Finance Committee Agenda and Packet 2009 11 16

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COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: NOVEMBER 16, 2009 SUBJECT: SALES TAX REPORT FOR THE MONTH ENDED SEPTEMBER 30, 2009 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 September 30, 2009. Also included are the quarter-end reports on sales tax revenue by area, by industry and the 7-year historical report. For the month of September 2009, sales tax revenue ended 10.5% below September 2008 and is 8.2% below 2008 revenue YTD. Sales tax revenues YTD are currently 9.9% below budget estimates. The top 50 vendors declined 2.27% for the month of September and are down 6.39% YTD. Hotels are down 15.5% and Telecom/Utilities are down 16.82% YTD. Home Improvements and General Merchandise have declined 4.93% and 7.85% respectively with a 2.84% gain for Grocery and flat revenue for Restaurants. The revenue by area report is a quarterly look at the retail health of various sections of the City and does not include audit revenue. Gains YTD include Pine Street, Centennial Valley, Residential, Louisville Plaza, Highway 42 South, CTC and McCaslin North areas; while YTD declines continue for Downtown, South Boulder Road, Highway 42 North, the Interchange, South Suburban, and Other areas. The revenue by industry report is a quarterly look at the retail health of various industry sectors in the City, and is generally consistent with the top 50 vendor report but includes all vendors remitting tax to the City. Again, these comparisons do not include audit revenue. Gains YTD have sustained for Agriculture, Manufacturing, Grocery, Apparel, Financial/Leasing, Food/Beverage and Services. Declines YTD continue for Construction, Telecom/Utilities, Wholesale, Building Materials, General Merchandise, SUBJECT AGENDA ITEM SEPTEMBER 2009 SALES TAX REPORT