HomeMy WebLinkAbout(0002) IR 10337 - September 2019 Sales Tax UpdateINFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 10337
To the Mayor and Members of the City Council November 12, 2019
Page 1 of 3
SUBJECT: SEPTEMBER 2019 —SALES TAX UPDATE
aVA
Y@73
Sales tax revenue represents approximately twenty-two percent (22.3%) of the City's General Fund
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 revenue source. The Texas Comptroller's Office posted September 2019 (Fiscal
Year 2019, Period 12 collection results on November 6th, 2019. Actual receipts are dependent upon
the timeliness and accuracy of sales tax payers' returns. This report provides Fort Worth's sales tax
collection compared to last year and the impact on the current year's budget.
SEPTEMBER NET SALES TAX COLLECTIONS (1 O-YEAR HISTORY)
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
The City's net sales tax collection is up $275,990 or 1.9%, compared to the same month last year. As
depicted in the table below, the City experienced $1,075,365 or a 7.5% increase in current period
collections when compared to last year's collections for the same month. Current period collections
include transactions that were collected for the current period on schedule within the due date.
Current Period Collections
Other Collections
Audit Adjustments
Service Fee
Retainage
Net Collections
COLLECTION DETAIL FOR CITY SALES TAX
September 18 September 19
$14,252,891 $15,328,255
Variance ($) Variance (%)
$1,075,365 7.5%
157,781
88,122
(69,660)
(44.1%)
357,720
(371,721)
(729,441)
(203.9%)
(295,368)
(300,893)
(5,525)
(1.9%)
(34,167) (28,915) 5,252 15.4%
$14,438,858 $14,714,848 $275,990 1.9%
*OTHER COLLECTIONS ARE PAYMENTS ATTRIBUTED TO NON -CURRENT COLLECTIONS INCLUDING PRIOR PERIOD, FUTURE PERIOD AND UNIDENTIFIED
COLLECTIONS. (AUDIT ADJUSTMENTS MAY FLUCTUATE BASED UPON RESULTS OF TAXPAYER SALES TAX AUDITS CONDUCTED BY THE STATE OF TEXAS.)
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 10337
To the Mayor and Members of the City Council November 12, 2019
0
Page 2 of 3
� SUBJECT: SEPTEMBER 2019 —SALES TAX UPDATE
r6rn
Y@7'3
CURRENT PERIOD COLLECTIONS
Change Compared to Same Month in Prior Year
9.6%
7.5%
0
4.6% 3.6% .5 0 3.8% 5.2% 2.8% 4.5% 3.1 %
2.6% 0
� =M simim =
Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19
(1.1)%
The City's General Fund sales tax collections as of FY2019 M12 are 100.9% to budget, and at 105.1 %
for the same period last year. The City's Crime Control and Prevention District Fund (CCPD) sales tax
collections as of FY2019 M12 are 101.9% to budget, and 105.7% for the same period last year.
CITY OF FORT WORTH YTD NET COLLECTIONS COMPARISON
Budget as of Current Receipts FY2018 Receipts
CITY OF FORT WORTH Period 12 Through Period 12 Through Period 12
GENERAL FUND $163,303,162 $164,704,100 $156,721,349
CRIME CONTROL AND PREVENTION DISTRICT
TOTAL
76,678,160 78,122,566 73,883,539
$239,981,322 $242,826,666 $230,604,888
CITY OF FORT WORTH BUDGET COMPARISON — FY2019
Actual
Adopted Amended Actual Fiscal Variance to Amended
Budget Budget Year Totals ($) (%)
CITY OF FORT WORTH
GENERAL FUND $163,151,802 $163,303,162 $164,704,100 $1,400,938 0.9%
CRIME CONTROL & PREVENTION DISTRI, $76,678,160 $76,678,160 $78,122,566 $1,444,406 1.9%
The City's General Fund actual collection exceeded the FY2019 amended budget by $1,400,938, or
0.9%. The City's Crime Control and Prevention District Fund (CCPD) actual collection exceeded the
FY2019 original adopted budget by $1,444,406, or 1.9%.
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 10337
To the Mayor and Members of the City Council November 12, 2019
Page 3 of 3
SUBJECT: SEPTEMBER 2019 -SALES TAX UPDATE
aVA
Y@73
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.
CITIES COMPARISON - NET COLLECTIONS
FY2019 vs. FY2018
City
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
YTD
IRVING
113.0%
122.2%
100.6%
112.3%
111.8%
ARLINGTON
111.3%
105.9%
110.0%
112.3%
109.9%
AUSTIN
108.0%
106.3%
108.3%
106.8%
107.3%
GRAND PRAIRIE
104.1 %
103.8%
112.2%
105.6%
106.5%
MCKINNEY
105.8%
104.7%
103.3%
109.5%
105.8%
SAN ANTONIO
106.6%
103.3%
104.2%
106.3%
105.1 %
FORT WORTH
106.2%
106.6%
103.6%
104.1 %
105.1 %
EL PASO
102.8%
104.7%
105.6%
106.0%
104.8%
GARLAND
103.1 %
100.4%
103.0%
106.4%
103.3%
FRISCO
103.1 %
100.5%
100.1 %
107.3%
102.8%
DALLAS
104.7%
103.0%
106.3%
96.2%
102.5%
HOUSTON
99.2%
102.1 %
101.3%
102.5%
101.2%
PLANO
103.0%
98.6%
91.4%
101.7%
98.6%
STATE TOTAL
106.5%
107.3%
105.1 %
103.2%
105.5%
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