HomeMy WebLinkAbout10239-06-2019 - 2019-06-18 - Informal ReportINFORMAL REPORT TO CITY COUNCIL MEMBERS
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To the Mayor and Members of the City Council
No. 10239
June 18, 2019
Page 1 of 3
SUBJECT: APRIL 2019 — SALES TAX UPDATE
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 April 2019 (Fiscal Year
2019, Period 7 collection results on June 12th, 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.
APRIL NET SALES TAX COLLECTIONS (1 O-YEAR HISTORY�
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The City's net sales tax collection is up $1,061,262 or 8.6%, compared to the same month last year. As
depicted in the table below, the City experienced $627,589 or a 5.2% increase when compared to last
year's collections for the same month. Current period collections include transactions that were
collected for the current period on schedule within the due date.
COLLECTION DETAIL FOR CITY SALES TAX
Collection Detail for City Sales Tax
Current Period Collections
Other Collections
Audit Adjustments
Service Fee
Retainage
Net Collections
April 18 April 19 Variance ($) Variance (%)
$12,147,075 $12,774,664 $627,589 5.2%
200,175
121,769
(249,380)
49,926
588,050
196,303
(271,180)
42.990
387,875
74, 534
(21, 800)
(6,936)
193.8%
61.2%
(8.7%)
(13.9%)
$12,269,565 $13,330,827 $1,061,262 8.6%
"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
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
INFORMAL REPORT TO CITY COUNCIL MEMBERS
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To the Mayor and Members of the City Council
SUBJECT: APRIL 2019 — SALES TAX UPDATE
CURRENT PERIOD COLLECTIONS
Change Compared to Same Month in Prior Year
8.3%
7_4%
8.8% 7.2%
9.6%
No. 10239
June 18, 2019
Page 2 of 3
The City's General Fund sales tax collections as of FY2019 M07 are 102% to budget, and at 107% for
the same period last year. The City's Crime Control and Prevention District Fund (CCPD) sales tax
collections as of FY2019 M07 are 104% to budget, and 107% for the same period last year.
CITY OF FORT WORTH YTD NET COL�ECTIONS COMPARISON
Budget as of Current Receipts FY2018 Receipts
CITY OF FORT WORTH Period 7 Through Period 7 Through Period 7
GENERAL FUND $93,094,387 $95,421,121 $89,413,031
CRIME CONTROL AND PREVENTION DISTRICT 43,752,544 45,359,196 42,317,174
TOTAL $136,846,931 $140,780,317 $131,730,205
CITY OF FORT WORTH BUDGET COMPARISON — FY2019
Adopted Amended Fiscal Year
Budget Budget Projections
CITY OF FORT WORTH
GENERAL FUND $163,151,802 $163,151,802 $163,151,802
CRIME CONTROL & PREVENTION DISTRICT $76,678,160 $76,678,160 $76,678,160
Projected
Variance to Amended
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$0 0.0%
$0 0.0%
The City anticipates collecting $163,151,802 by fiscal year end, which matches original estimates in the
FY2019 adopted budget.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19
INFORMAL REPORT TO CITY COUNCIL MEMBERS
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To the Mayor and Members of the City Council
No. 10239
June 18, 2019
Page 3 of 3
SUBJECT: APRIL 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 ity
ARLINGTON
MCKINNEY
AUSTIN
SAN ANTONIO
GRAND PRAIRIE
DALLAS
EL PASO
GARLAND
FORT WORTH
IRVING
HOUSTON
PLANO
FRISCO
STATE TOTAL
106.5% 107.3% 103.0%
YTD
109.7%
106.7%
108.2%
105.9%
104.8%
104.6%
104.5%
102.7%
106.7%
115.7%
101.0%
101.1%
101.7%
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
CITIES COMPARISON - NET COLLECTIONS
FY2019 vs. FY2018
1st Quarter 2nd Quarter April
111.3% 105.9% 116.3%
105.8% 104.7% 116.1 %
108.0% 106.3% 114.6%
106.6% 103.3% 111.8%
104.1 % 103.8% 110.3%
104.7% 103.0% 109.7%
102.8% 104.7% 109.1 %
103.1 % 100.4% 108.7%
106.2% 106.6% 108.6%
113.0% 122.2% 103.9%
99.2% 102.1 % 103.7%
103.0% 98.6% 101.9%
103.1 % 100.5% 101.1 %
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS