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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 Comptroller's Office posted results on April
6th. 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
February and in prior months. In this report, you will see our sales tax collection compared to last
year and the impact on the current years budget.
Note: The City's February sales tax collections were up $268,700 compared to last year. This is
one of the highest on record as illustrated in the ten year graph above. Super Bowl activities
bolstered our sales tax results; however the record snow and ice events likely tempered some
retail spending.
CITY OF FORT WORTH BUDGET COMPARISON - FY2011
YTD BUDGET $
38,260,361
YTD VARIANCE
YTD ACTUAL $
41,986,615
9.74%
ADOPTED BUDGET $
96,351,438
YEAR END VARIANCE
BUDGET RE-ESTIMATE $
100,077,692
3.87%
Note: Through February, the City has collected a total of $3,726,254 more than budget. While
the YTD results are favorable, staff recommends maintaining a conservative forecast for the next
several months.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9373
To the Mayor and Members of the City Council April 12, 2011
Page 2 of 2
SUBJECT: April 2011 - Sales Tax Update
The following chart demonstrates how our trend compares to the state and other cities:
CITY OF FORT WORTH
CITY COMPARISONS - FY 2011 v. FY 2010
CITY QTR 1 JAN FEB YTD
GRAPEVINE 13.59% 4.90% 7.01% 10.90%
BURLESON 14.02% 2.38% 0.47% 9.56%
EULESS 7.28% 12.57% 12.15% 9.08%
FORT WORTH 9,29010 8.73010 4.02% 828%
HURST 6.62010 5.73% 4.73010 6.18%
WATAUGA 6.13% 5.97% 5.32% 5.96%
ARLINGTON 8.10% - 4.88% 4.52% 5.02%
DALLAS 3.59% 0.45% 6.19% 3.44%
NORTH RICHLAND HILLS 5.27% -2.31% 1.82% 3.32%
SOUTHLAKE 2.15% 15.36% - 5.23% 3.08%
KELLER 2.81% 9.500/0 3.96% 2.68%
BEDFORD -0.61% 6.81% - 0.91% - 1.88%
GRAND PRAIRIE - 6.73% 6.66% 3.00% -2.53%
STATE TOTAL 7.92% 10.43010 9.67% 8.98%
Note: YTD collections for Fort Worth are also up 8.28% compared to last year as the city has
experienced continued growth since December. The Comptroller's office is projecting statewide
economic growth through 2013 therefore we believe this trend may continue.
Staff will continue to monitor this volatile revenue source throughout the year and provide
an update to the City Council on a monthly basis.
Again, hopefully you find this additional information helpful. If you have any questions, please call
Horatio Porter, Budget Officer, at 817.392.2379.
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m Higgins
Interim City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS