Finance Committee Agenda and Packet 2011 02 14

Home Browse Search

COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: FEBRUARY 14, 2011 SUBJECT: SALES TAX REPORT FOR THE MONTH ENDED DECEMBER 31, 2010 ORIGINATING DEPARTMENT: CITY MANAGER’S OFFICE SUMMARY: Attached are the monthly revenue reports for sales tax, lodging tax, auto use tax, and building use tax for the month ending December 31, 2010. Also included are the quarter- end and year-end reports on sales tax revenue by area, by industry, restaurant revenue by area, and the historical revenue report. For the month of December 2010, sales tax revenue ended 4% below December 2009 and 2.9% below 2009 for the year. Sales tax revenues for 2010 ended 8.5% above budget. The top 50 vendors increased only slightly for the month of December 2010 ending up 1.33% for the month, however, for the year the top 50 vendors finished 5.3% above 2009 revenue. Gains were seen in all sectors; General Merchandise (4.27%), Grocery (9.48%), Home Improvement (3.09%), Hotels (7.66%), Restaurants (5.45%) and Telecom/Utilities (2.39%). Most sectors in 2010 regained the losses experienced in 2009 with the exception of Hotels (which dropped 17% in 2009) and Telecom/Utilities (which dropped almost 13% in 2009). Lodging revenue increased 5.6% for December 2010 with YTD revenues ending 2.3% above 2009 revenue. Lodging tax revenues exceeded budget by 5.9%. Auto use tax revenue for December 2010 increased 1.6% from December 2009 and ended 2010 3.8% above 2009 revenue. Auto use tax revenue exceeded budget estimates by 18.8% for the year. Building use tax revenue for December 2010 was up 124.8% from December 2009, and ended the year 24.8% above 2009 revenues. Building use tax revenue exceeded budget by 18.8%. SUBJECT AGENDA ITEM December 2010 Sales Tax Report ê