HomeMy WebLinkAboutIR 10299
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10299
August 13, 2019
To the Mayor and Members of the City Council
Page 1 of 3
SUBJECT: JUNE 2019 SALES TAX UPDATE
Sales tax revenue represents approximately twenty-two 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 June 2019 (Fiscal Year
2019, Period 9) collection results on August 7th, 2019. Actual receipts are dependent upon the
timeliness and accuracy of sales tax payers' returns. This report provides
collection compared to last year
J UNE N ET S ALES T AX C OLLECTIONS (10-YEAR H ISTORY)
$15.0
$14.7
$13.5 $13.6
$12.4
$9.1 $11.1 $11.1
$10.1
$9.6
FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019
The Citup $299,699 or 2.0%, compared to the same month last year. As
depicted in the table below, the City experienced $412,702 or a 2.8% increase in current period
collections when compared Current period collections
include transactions that were collected for the current period on schedule within the due date.
C OLLECTION D ETAIL FOR C ITY S ALES T AX
June 18June 19Variance ($)Variance (%)
Current Period Collections$14,692,589$15,105,291$412,7022.8%
Other Collections
180,89689,731(91,165)(50.4%)
Audit Adjustments
138,193127,981(10,212)(7.4%)
Service Fee
(300,234)(306,460)(6,227)(2.1%)
Retainage
(35,995)(41,394)(5,399)(15.0%)
Net Collections
$14,675,449$14,975,149$299,6992.0%
*O THER C OLLECTIONS ARE PAYMENTS ATTRIBUTED TO NON-CURRENT COLLECTIONS INCLUDING PRIOR PERIOD, FUTURE PERIOD AND UNIDENTIFIED
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. 10299
August 13, 2019
To the Mayor and Members of the City Council
Page 2 of 3
SUBJECT: JUNE 2019 SALES TAX UPDATE
C URRENT P ERIOD C OLLECTIONS
Change Compared to Same Month in Prior Year
8.8%
9.6%
7.2%
4.6%
5.2%
4.5%
3.6%
2.6%
2.8%
3.8%
3.6%
Jul-18Aug-18Sep-18Oct-18Nov-18Dec-18Jan-19Feb-19Mar-19Apr-19May-19Jun-19
(1.1)%
General Fund sales tax collections as of FY2019 M09 are 101.3% to budget, and at 105.4%
for the same period last year. ax
collections as of FY2019 M09 are 102.3% to budget, and 105.8% 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 9Through Period 9Through Period 9
CITY OF FORT WORTH
GENERAL FUND $121,790,764$123,349,914$116,986,335
CRIME CONTROL AND PREVENTION DISTRICT57,239,28058,582,49255,361,893
TOTAL $179,030,043$181,932,406$172,348,228
C ITY OF F ORT W ORTH B UDGET C OMPARISON FY2019
Projected
Variance to Amended
AdoptedAmendedFiscal Year
BudgetBudgetProjections($)(%)
CITY OF FORT WORTH
GENERAL FUND $163,151,802$163,151,802$166,414,838$3,263,0362.0%
CRIME CONTROL & PREVENTION DISTRICT$76,678,160$76,678,160$78,211,723$1,533,5632.0%
The City anticipates collecting $166,414,838 by fiscal year end, which is a 2% increase from the FY2019
adopted budget.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10299
August 13, 2019
To the Mayor and Members of the City Council
Page 3 of 3
SUBJECT: JUNE 2019 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
City1st Quarter2nd Quarter3rd QuarterJuneYTD
IRVING113.0%122.2%100.6%98.0%111.6%
ARLINGTON
111.3%105.9%110.0%103.9%109.1%
AUSTIN
108.0%106.3%108.3%106.8%107.5%
GRAND PRAIRIE
104.1%103.8%112.2%124.6%106.8%
FORT WORTH
106.2%106.6%103.6%102.0%105.4%
SAN ANTONIO
106.6%103.3%104.2%102.7%104.7%
DALLAS
104.7%103.0%106.3%103.7%104.6%
MCKINNEY
105.8%104.7%103.3%100.4%104.6%
EL PASO
102.8%104.7%105.6%106.0%104.4%
GARLAND
103.1%100.4%103.0%101.4%102.2%
FRISCO
103.1%100.5%100.1%98.9%101.3%
HOUSTON
99.2%102.1%101.3%100.2%100.8%
PLANO
103.0%98.6%91.4%97.6%97.6%
STATE TOTAL
106.5%107.3%105.1%103.3%106.3%
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