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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 June 10. You may recall, sales
tax reporting experiences a two month lag and this June report reflects taxes that were collected in April.
Below you will find the April recap for the City of Fort Worth. You will see our collections compared to
(1) last year, (2) the adopted budget, and (3) neighboring cities. Hopefully this information will provide you
immediate perspective on our results as well as equip you for questions you may have to entertain.
Note: For the month of April, the City's sales tax collections were down $641,977 compared to last year.
This downward trend demonstrates a continued reduction in consumer spending.
City of Fort Worth
Actual vs. Budget
Year to Date — FY2009
Unfavorable
Budge $ Variance % Variance
S59,893,5/36 S(844,988) -L4%
Note- For the first 7 months of this fiscal year, we collected $844,988 less than budget.
ISSUED BY THE CITY MANAGER FORT WORTH. TEXAS
• the Mayor and Members of the City Council
SUBJECT: June 2009 — Sales Tax Update
City of Fort Worth
City Comparisons — YTD
FY09 vs. FY08
citv
% Chang
BURLESON
8.3%
WATAUGA
1.7%
KELLER
0.4%
ARLINGTON
-1.9%
FORT WORTH
-2.2%
SOUTHLAKE
-4.2%
GRAND PRAIRIE
-4.4%
NORTH RICHLAND HILLS
-5.9%
DALLAS
-6.4%
HURST
-6.8%
AVERAGE % CHANGE %
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Note: The average percentage change from the previous year among the comparison cities is -2.1 %. The
City of Fort Worth has seen a decline year to date collections of -2.2% from FY08. While our collections
are relatively neutral compared to others, we are concerned about the continued trend.
In light of these lower collections, staff will revise downward our current year re-estimates.
Additionalty, we are evaluating the impact these results will have on the FYIO budget gap. During
the budget development sessions over the coming months, staff will present to Council an overall
update of all the revenue budget assumptions.
Again, hopefully you find this information helpflit. If you ha av-- any questions, please call Horatio Porter,
Budget Officer, at 817.3392.2.3
A
Dale A. Msssieler, 4.
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS