Finance Committee Agenda and Packet 2022 11 28

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LL city°f FINANCE COMMITTEE Louisville COMMUNICATION COLORADO • SINCE 1878 SUBJECT: SALES TAX REPORTS FOR THE MONTH AND QUARTER ENDED SEPTEMBER 30, 2022 DATE: NOVEMBER 7, 2022 PRESENTED BY: VIK RUNKLE, FINANCE DIRECTOR JEANETTE LONGORIA, TAX MANAGER Item 6 SUMMARY: Attached are the monthly and quarterly revenue reports for sales tax, lodging tax, auto use tax, -consumer use tax, and building use tax for the periods ending September 30, 2022. Included are the monthly and year-to-date sales tax revenue reports by area, by industry (in total, and for inside and outside City), and the revenue by area graphs for restaurants. Total revenue through September 2022 for the specific taxes contained on the Revenue History report has increased 19.6% YTD as compared to the same period in 2021. Excluding audit revenue, sales tax is trending 14.7% above YTD 2021, and consumer use tax is trending 44.5% above YTD 2021. Please note, the budget comparisons provided are to the 2022 budget. Sales tax revenue for the month of September 2022 increased 7.2% from September 2021, but YTD sales tax revenue is 14.7% above YTD 2021. Sales tax revenue is currently 7.3% above budget. Lodging tax revenue for September 2022 decreased 30.4% from September 2021, and YTD revenue is up 23.6% as compared to YTD 2021. Lodging tax revenue is currently 2.3% below budget. Auto use tax revenue for September 2022 decreased 5.2% from September 2021, and YTD revenue increased 3.3% as compared to YTD 2021. Auto use tax revenue is currently 0.6% above budget. Building use tax revenue for September 2022 increased 2640.3% from September 2021, and YTD revenue increased 47.2% as compared to YTD 2021. Building use tax revenue is 133.3% above budget. Consumer use tax revenue for September 2022 increased 54.4% from September 2021, and YTD revenue is 42.7% above YTD 2021. Consumer use tax is 64.9% above budget. FINANCE COMMITTEE COMMUNICATION 0