HomeMy WebLinkAboutIR 9421INFORMAL REPORT COUNCIL i • 1
To the Mayor and Members of the City Council August 16, 2011
NAT
ATIr
Page 1 of 2
SUBJECT: August 2011 -- Sales Tax Update
In response to the volatile nature of sales tax revenue, the Staff is committed to providing you a brief
update of the sales tax collections. The Texas Comptroller's Office posted results on August 10th.
The results are dependent upon the timeliness and accuracy of sales tax payers' returns. This
payment from the State represents taxes collected on sales that occurred primarily in the month of
June. In this report, you will see our sales tax collection compared to last year and the impact on the
current year's budget.
CITY OF FORT WORTH
JUNE FY2011 $ 13,763,588 DOLLAR VARIANCE %VARIANCE
JUNE FY2010 $ 9,112,377 $4,651,212 JW 51.04%
COLLECTION DETAIL FOR CITY SALES TAX
JUNE 2010 JUNE 2011 CHANGE
Current Period Collections
Other Collections:
Audit Colle tiI
Service Fee:
Retainage:
Net Payment
$ 10,087,557
392,906
(1,144,517)
(186,719)
(36,851)
$ 9,112,377
$ 10,332,048
2.42%
163,480
- 58.39%
3,690,341
422.44%%
(283,717)
51.95%
(138,563)
276.01%
$ 13,763,588
51.04%
2.73% 3.43 % 3.86% 2.421% -�—Nw-=, Current Period Collections: s d _0 =- 0
October November December January February March April May June
City Sates Tax Trend: Variance for the most recent months vs. same period last year.
Note: As you can see, "Current Period" collections have a positive trend signaling continued sales
tax improvement.
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9421
Y0
YTD
YTD
QTR 3
BUDGET
ACTUAL
VARIANCE
14.02%
CITY OF FORT WORTH $ 71.884.450 $
78.567.774
9.30Y6
10]0»6
CRIME CONTROL AND PREVENTION D|ST. $ 31.511.008 8
35.439.849
12A896
�N�~
MASS TRANSIT AUTHORITY - THE ^r $ 33.984.760 $
30.017.220
8.63%
~�N�
ADOPTED
BUDGET
YREND
QTR 3
BUDGET
RE-ESTIMATE
VARIANCE
14.02%
CITY 0F FORT WORTH $ 98.351/438
$ 103.034.762
6.94%
10]0»6
CRIME CONTROL AND PREVENTION D|ST. $ 42.237.472
$ 48.165.415
8.30%
~��^
MASS TRANSIT AUTHORITY - THE ''T" $ 45.552.000
8 48.484.480
6.44%
~�N�
Note: The City CO//eCtioD8 total $6.603,324 more than budget. Staff rSCDnlm8DdS maintaining @
conservative forecast, until the City and Comptroller can finalize pBYD1eOt plans for the total 8DloUOt
due 8S well GS monitoring changes iO the national economy.
CITY OF FORT WORTH
CITY COMPARISONS - FY 2011 v. FY 2010
CITY
QTR 1
QTR 2
QTR 3
JUNE
YTD
8URLESON
14.02%
-1]0%
18.85%
10.85Y4
10]0»6
GRAPEVINE
13.59%
300%
1210%
15.06%
�8396
�3%,-
S()UTHLAKE
215%
8.08%
7.80Y4
074%
5�81"4
EULESS
7.28%
0.60%
3�58%
8.35%
5.74%
HUR3T
6�82%
2.00%
3.44%
113%
445%
DALLAS
3.58Y6
4.70%
3.71%
3.90%
3,99m
ARLINGTON
8]0%
0.50%
0�00%
-1.85%
180%
VYATAUGA
0]3%
0.40%
V]8%
4.47%
2.17%
KELLER
2.81%
-2.40%
2.83%
8.93%
1.08%
NORTH R|CHLAND HILLS
527"u
-3.00%
'145%
-339%
0.33%
GRAND PRAIRIE
-6J3%
-270%
1.49%
-0.81Y4
-2.58%
BEDFORD
-0.01%
-7.90%
-712Y4
-6.01%
-5.27"u
STATE TOTAL 8.20% 10.00% 8.55% 7]3% 9�27r4
Note: YTD collections for Fort Worth are up 7.63% compared to last year.
Again, hopefully you find this additional information helpful. If you have any questions, please call
Horatio Porter, Budget Officer, at 817.392.2379.
Tom Higgins
Interim City Manager
FORT WORTH TEXAS