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To the Mayor and Members of the City Council
SUBJECT: January 2010 — Sales Tax Update
No. 9172
January 12, 2010
Page 1 of 2
In response to the volatile nature of Sales Tax revenue, the Staff committed to providing you a brief update
of the sales tax collections. The Texas Comptrolier's Office posted results January 6th. You may recall,
sales tax reporting experiences a two month lag and this January report reflects taxes that were collected in
November.
Below you will find the November recap for the City of Fort Worth. You will see our collections compared
to (1) last year, (2) the adopted budget, and (3) neighboring cities. Hopefully this information will provide
you immediate perspective on our results as well as equip you for questions you may have to entertain.
Sales Tax
Revenue
City of Fort Worth
Monthly Collections
FY10 vs. FY09
November November Unfavorable
2010 2009 $ Variance % Variance
$7,215,285 $7,541,740 $ (559,705) -7.2%
Note: For the month of November, the City's sales tax collections were down $559,705 compared to last
year. This downward trend demonstrates a continued reduction in consumer spending.
Sales Tax
Revenue
City of Fort Worth
Actual vs. Budget
Year to Date — FY2010
Actual
$14,304,798
Unfavorable
Budget $ Variance % Variance
$15,858,795 $ (1,554,000) -4.3%
Note: Through the second month of this fiscal year, we have collected $1,554,000 less than budget.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS
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To the Mayor and Members of the City Council
SUBJECT: January 2010 — Sales Tax Update
City of Fort Worth
City Comparisons — YTD
FY 10 vs. FY09
C�
BURLESON
ARLINGTON
BEDFORD
NORTH RICHLAND HILLS
WATAUGA
GRAPEVINE
KELLER
HL7RST
GRAND PRAIRIE
SOUTHLAKE
FORT WORTH
DALLAS
EULESS
AVERAGE % CHANGE
%
Chan e
-0.8%
-1.7%
-3.0%
-3.3%
-5.0%
-8.3%
-8.8%
-9.6%
-9.9%
-12.3%
-12.5%
-13.6%
-18.4%
-8.2%
No. 9172
January 12, 2010
Page 2 of 2
Note: The average percentage change froin the previous year among the comparison cities is -8.2%. The
City of Fort Woi�th has seen a decline year to date collections of -12.5% from FY09.
This month's sales tax revenue represents a slight improvement over last month's collections.
Consequently staff is not recommending any action to modify the current year appropriations.
However, we have only collected 96% of our budgeted revenues therefore staff will continue to
provide an update of this volatile revenue source to the City Council on a monthly basis. If collections
deteriorate, staff will implement a mid-year budget adjustment.
Again, hopefully you fmd this inforination helpfuL If you have any questions, please call Horatio Porter,
Budget Officer, at 817.392.2379.
�Da e A. Fisseler, P.E.
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS