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INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10218
January 15, 2019
To the Mayor and Members of the City Council
Page 1 of 3
SUBJECT: OCTOBER 2018 SALES TAX UPDATE
Sales tax revenue represents approximately twenty-three percent (22.3%)
anticipated revenue in Fiscal Year 2019. It is the second largest revenue source, with property tax being
the largest. In addition, sales tax revenue represents the largest revenue source in the Crime Control
and Prevention District Fund. Staff is committed to providing regular updates on this important and
sometimes volatile October 2018 (Fiscal Year
2019, Period 1) collection results on December 12th, 2018. Actual receipts are dependent upon the
timeliness and accuracy of sales tax payers' returns. This report provides
collection compared to last year
O CTOBER N ET S ALES T AX C OLLECTIONS (10-YEAR H ISTORY)
$13.0
$12.0
$11.4
$10.3 $10.2
$9.6
$9.3
$7.7 $7.6
$7.1
12345678910
The Citup $978,462 or 8.2%, compared to the same month last year. As
depicted in the table below, the City experienced $547,273 or a 4.6% increase when compared to last
Current period collections include only transactions that occurred
within the month, so this number reflects pure economic activity.
C OLLECTION D ETAIL FOR C ITY S ALES T AX
October 17October 18Variance ($)Variance (%)
Current Period Collections$11,941,617$12,488,890$547,2734.6%
Other Collections
177,924448,130270,205151.9%
Audit Adjustments
73,797265,303191,507259.5%
Service Fee
(243,867)(264,046)(20,180)(8.3%)
Retainage
41,03830,695(10,343)(25.2%)
Net Collections
$11,990,509$12,968,971$978,4628.2%
In the table above, a variance of $270,205 or 151.9% can be seen in Other Collections for October 18
and is the result of above average collections for future periods.
*N ON-C URRENT C OLLECTIONS ARE PAYMENTS ATTRIBUTED TO NON-CURRENT COLLECTIONS INCLUDING PRIOR PERIOD, F UTURE PERIOD AND U NIDENTIFIED
C OLLECTIONS. (A UDIT ADJUSTMENTS MAY FLUCTUATE BASED UPON RESULTS OF TAXPAYER SALES TAX AUDITS CONDUCTED BY THE S TATE OF T EXAS.)
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10218
January 15, 2019
To the Mayor and Members of the City Council
Page 2 of 3
SUBJECT: OCTOBER 2018 SALES TAX UPDATE
C URRENT P ERIOD C OLLECTIONS
Change Compared to Same Month in Prior Year
9.9%
8.9%
8.4%
8.8%
8.3%
7.4%
7.2%
6.1%4.5%
4.6%
3.6%
1.4%
Nov-17Dec-17Jan-18Feb-18Mar-18Apr-18May-18Jun-18Jul-18Aug-18Sep-18Oct-18
General Fund sales tax collections as of FY2019 M01 are 105% to budget, and at 108% for
the same period last year. ax
collections as of FY2019 M01 are 106% to budget, and 107% for the same period last year.
C ITY O F F ORT W ORTH YTD N ET C OLLECTIONS C OMPARISON
Budget as of Current Receipts FY2018 Receipts
Period 1Through Period 1Through Period 1
CITY OF FORT WORTH
GENERAL FUND $12,400,544$12,968,971$11,990,509
CRIME CONTROL AND PREVENTION DISTRICT5,828,0136,178,1975,767,415
TOTAL $18,228,557$19,147,169$17,757,925
C ITY OF F ORT W ORTH B UDGET C OMPARISON FY2019
Projected
Variance to Amended
AdoptedAmendedFiscal Year
BudgetBudgetProjections($)(%)
CITY OF FORT WORTH
GENERAL FUND $163,151,802$163,151,802$163,151,802$00.0%
CRIME CONTROL & PREVENTION DISTRICT$76,678,160$76,678,160$76,678,160$00.0%
The City anticipates collecting $163,151,802 by fiscal year end, which matches original estimates in the
FY2019 adopted budget.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10218
January 15, 2019
To the Mayor and Members of the City Council
Page 3 of 3
SUBJECT: OCTOBER 2018 SALES TAX UPDATE
The chart below indicates how current year sales tax net collections in Fort Worth and other select cities
in the state compare to FY2018 collections for the same period.
C ITIES C OMPARISON N ET COLLECTIONS
FY2019 vs. FY2018
CityOctober
AUSTIN
117.3%
SAN ANTONIO
114.6%
ARLINGTON
113.0%
MCKINNEY
109.8%
GARLAND
109.5%
IRVING
109.0%
FORT WORTH
108.2%
GRAND PRAIRIE
107.2%
FRISCO
106.6%
PLANO
102.6%
DALLAS
101.6%
EL PASO
100.6%
HOUSTON
100.5%
STATE TOTAL
107.3%
Source: Allocation Payment Detail and Monthly All Fund Revenue Report, Texas Comptroller of Public Accounts
If you have any questions, please call Terry Hanson, Assistant Director of Budget and Analysis, at
817-392-7934.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS