HomeMy WebLinkAboutIR 10319
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10319
September 17, 2019
To the Mayor and Members of the City Council
Page 1 of 3
SUBJECT: JULY 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 July 2019 (Fiscal Year 2019,
Period 10 collection results on September 11th, 2019. Actual receipts are dependent upon the
timeliness and accuracy of sales tax payers' returns. This report provides
collection compared to last year
J ULY N ET S ALES T AX C OLLECTIONS (10-YEAR H ISTORY)
$13.3
$12.5
$11.7
$10.8
$8.9
$10.6
$10.0
$9.3
$9.1
$8.3
FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019
The Citup $804,239 or 6.4%, compared to the same month last year. As
depicted in the table below, the City experienced $564,286 or a 4.5% increase in current period
collections when compared Current period collections
include transactions that were collected for the current period on schedule within the due date.
C OLLECTION D ETAIL FOR C ITY S ALES T AX
July 18July 19Variance ($)Variance (%)
Current Period Collections$12,657,174$13,221,460$564,2864.5%
Other Collections
84,517327,568243,051287.6%
Audit Adjustments
5,78529,49423,708409.8%
Service Fee
(254,950)(271,570)(16,621)(6.5%)
Retainage
44,37834,192(10,187)(23.0%)
Net Collections
$12,536,905$13,341,144$804,2396.4%
*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. 10319
September 17, 2019
To the Mayor and Members of the City Council
Page 2 of 3
SUBJECT: JULY 2019 SALES TAX UPDATE
C URRENT P ERIOD C OLLECTIONS
Change Compared to Same Month in Prior Year
9.6%
7.2%
4.5%
4.6%
5.2%
3.6%
4.5%
2.6%
2.8%
3.8%
3.6%
Aug-18Sep-18Oct-18Nov-18Dec-18Jan-19Feb-19Mar-19Apr-19May-19Jun-19Jul-19
(1.1)%
General Fund sales tax collections as of FY2019 M10 are 101.5% to budget, and at 105.5%
for the same period last year. ax
collections as of FY2019 M10 are 102.7% to budget, and 106.0% 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 10Through Period 10Through Period 10
CITY OF FORT WORTH
GENERAL FUND $134,724,093$136,691,057$129,523,240
CRIME CONTROL AND PREVENTION DISTRICT63,317,69265,036,57061,326,876
TOTAL $198,041,785$201,727,627$190,850,116
C ITY OF F ORT W ORTH B UDGET C OMPARISON FY2019
Projected
Variance to Amended
AdoptedAmendedFiscal Year
BudgetBudgetProjections($)(%)
CITY OF FORT WORTH
GENERAL FUND $163,151,802$163,303,162$165,599,079$2,295,9171.4%
CRIME CONTROL & PREVENTION DISTRICT$76,678,160$76,678,160$78,211,723$1,533,5632.0%
The City anticipates collecting $165,599,079 by fiscal year end, which is a 1.4% increase from the
FY2019 amended budget, or a 1.5% increase from the original adopted budget.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 10319
September 17, 2019
To the Mayor and Members of the City Council
Page 3 of 3
SUBJECT: JULY 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 QuarterJulyYTD
IRVING
113.0%122.2%100.6%116.6%112.1%
ARLINGTON
111.3%105.9%110.0%123.3%110.4%
AUSTIN
108.0%106.3%108.3%111.3%107.9%
GRAND PRAIRIE
104.1%103.8%112.2%111.1%107.3%
FORT WORTH
106.2%106.6%103.6%106.4%105.5%
SAN ANTONIO
106.6%103.3%104.2%112.0%105.4%
DALLAS
104.7%103.0%106.3%107.1%104.9%
MCKINNEY
105.8%104.7%103.3%107.0%104.8%
EL PASO
102.8%104.7%105.6%105.5%104.5%
GARLAND
103.1%100.4%103.0%109.0%102.9%
FRISCO
103.1%100.5%100.1%109.3%102.0%
HOUSTON
99.2%102.1%101.3%102.8%101.0%
PLANO
103.0%98.6%91.4%101.1%98.0%
STATE TOTAL
106.5%107.3%105.1%104.3%106.1%
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