Finance Committee Agenda and Packet 2016 02 15

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Cityot Louisville COLORADO • SINCE 1878 FINANCE COMMITTEE COMMUNICATION SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED DECEMBER 31, 2015 DATE: FEBRURY 15, 2016 PRESENTED BY: PENNEY BOLTE, FINANCE DEPARTMENT SUMMARY: Attached are the monthly revenue reports for sales tax, lodging tax, auto use tax, consumer use tax, and building use tax for the month ending December 31, 2015. Also included are the monthly and quarterly reports on sales tax revenue by area, and by industry, the year -end revenue by area graphs for restaurants, and historical revenue report. Total revenues for the taxes contained in these reports through December 2015 ended up 7.3% YTD over 2014. The month of December 2015 ended with sales tax revenue up 5.4% from December 2014. YTD revenue for 2015 ended 6.1% above 2014 and 1.1% above projections. Sales tax revenue for the top 50 vendors increased 2.9% for the month of December 2015, and ended 4.7% above 2014 YTD. Gains through December 2015 include the sectors: Grocery (14 %), Hotels (9.1%), Restaurants (3 %), General Merchandise (3.6 %), and Home Improvement (0.6 %). The only declining sector for 2015 was Telecommunications /Utilities (- 7.8 %). Lodging tax revenue for December 2015 increased 2.7% from December 2014. YTD revenues ended up 9.7% as compared to 2014 but 0.2% below projections. Auto use tax revenue for December 2015 increased 14.8% from December 2014. YTD revenues ended up 11% to 2014 and finished the year 8.3% above projections. Building use tax revenue for December 2015 increased 80.8% from December 2014. YTD revenues ended up 30% from 2014 revenues, but ended 15.8% below projections for the year. Consumer use tax revenue for December 2015 decreased 0.2% from December 2014 and YTD revenues ended 0.9% below 2014 revenue. Consumer use tax collections through December 2015 were $1,455,649 which is 2.2% below projections. FINANCE COMMITTEE COMMUNICATION 15