Finance Committee Agenda and Packet 2016 02 15

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SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED DECEMBER 31, 2015 DATE: FEBRUARY 15, 2016 PAGE2OF3 The monthly and quarterly sales tax revenue by area reports represent the YTD retail health of various quadrants of the City. These reports include all vendors remitting tax to the City. The Monthly Revenue by Area report for December 2015 indicates gains in areas; Interchange, Louisville Plaza, McCaslin North, Downtown, Highway 42 South, CTC, South Boulder Road, Highway 42 North, and South Suburban; the declining areas for the month included; Outside City, Pine Street Plaza, Centennial Valley, and Residential. The Quarterly Revenue by Area sales tax report through 4th quarter 2015 is a one -page snapshot for major areas in the City. The original sectors are combined into Western, Eastern, Northern, Central and Outside City areas. All major areas of the City recognized gains YTD 2015. The monthly and quarterly sales tax revenue by industry reports represent the retail health of individual industry sectors of the City. These reports include all vendors remitting tax to the City. The Monthly Revenue by Industry report for December 2015 indicates gains in the sectors; Grocery, Food /Beverage, Building Materials, Services, General Merchandise, Finance /Leasing, Furniture, and Wholesale; the declining sectors for the month include, Communications /Utilities, Other Retail, Manufacturing, Automotive, Apparel, Construction, and Agriculture. As with the Quarterly Revenue by Area report, the Quarterly Revenue by Industry sales tax report through 4th quarter 2015 represents industry sectors that have been grouped together and are color- coded. All major industry sectors ended up for the quarter and year, except the Communications /Utilities and Other Retail. The annual consumer use tax reports by area and by industry are produced annually and are included for your reference. The strongest areas of the City for remittance of consumer use tax are CTC, Interchange, and Centennial Valley. The strongest industry sectors for remittance of consumer use tax are Manufacturing and Services. Included in the tax reports is a summary of the Consumer Use Tax collections from 2011 to present and a breakdown of the 2015 audit and enforcement revenue collected in 2015. The Restaurant Revenue graphs indicate Eating and Drinking establishment revenue continues to climb. The 4th quarter, year -end reports indicate Downtown, Louisville FINANCE COMMITTEE COMMUNICATION 16