Finance Committee Agenda and Packet 2010 11 15

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PAGE TWO SUBJECT: SALES TAX REPORT FOR THE MONTH ENDED SEPTEMBER 30, 2010 DATE: NOVEMBER 15, 2010 Healthy gains were seen in most sectors including Construction, Manufacturing, Telecom /Util., Wholesale, Furniture, Food /Beverage, Miscellaneous Retail and Services. A few one -time transactions occurred in the Manufacturing sector accounting for the sharp increase in revenue however, without these transactions, the sector would have decreased around 10 %. Also, additional revenue is being recognized in the Furniture sector due to voluntary collection and remittance of sales tax by several vendors on their deliveries. Declines occurred for Agriculture, General Merchandise, Apparel and Finance /Leasing. Building Materials ended the quarter flat to 2009 along with Grocery. The Agriculture decline reflects decreased revenue from Farmer's Market/Street Faire events. The 45% decline in General Merchandise indicates the revenue leakage since the closure of Sam's Club. Keep in mind that Grocery is keeping pace with last year levels in which 2009 revenue included four full months of Safeway revenue. Updates of the new restaurant revenue charts indicating YTD revenue comparisons to 2008 and 2009 are also included. Ongoing, these charts will be presented on a quarterly basis. In February when the year -end reports are presented, the additional full -year restaurant revenue comparison charts will be included. Lodging revenue increased 14.8% for September 2010 with YTD revenues just barely above 2009 revenue by .2% to 2009. Lodging tax is now 5.1% above budget estimates. Auto use tax revenue for September 2010 dropped nearly 30% from September 2009 (the last month for "Cash for Clunkers "), is 1% above 2009 YTD and ahead of budget estimates by 16% for the year. Building use tax revenue for September 2010 ended down 11% from September 2009, and is 26% above 2009 YTD, and 36.5% above budget estimates YTD. 34