Memorandum
City of Lawrence
Finance Department
To: Dave Corliss, City Manager
From: Ed Mullins, Finance Director
Date: June 1, 2010
Subject: Sales Tax Distribution
The City of Lawrence has recently received its May sales tax distribution. The distribution is the result of retail sales from mid-March to mid-April. The distribution of $2,471,368.65 represents a significant increase from the prior year distribution for the same month because of the higher rate. It also includes $1037 from the Free State Transportation Development District and $4876 from the Oread District.
Based upon the first quarter distribution, total 2010 sales/use tax is projected to be $29,500,000 or approximately 96% of budget.
A summary of the recent city sales/use tax receipts is shown in the table below.
|
Sales/Use Tax |
Budget |
Month |
Year to Date |
% of Budget |
|
City 1% |
14,307,061 |
1,128,411 |
5,532,394 |
38.7% |
|
Infrastructure .3% |
3,944,646 |
337,083 |
1,648,980 |
41.8% |
|
Transit .2% |
2,629,764 |
224,722 |
1,099,319 |
41.8% |
|
Transit Eq. .05% |
657,442 |
56,181 |
274,831 |
41.8% |
|
County 1% |
9,288,200 |
719,059 |
3,534,921 |
38.1% |
A spreadsheet showing total monthly sales tax distributions since 2001 is attached.
Additional sales tax information is provided in the tables and graphs below.
|
City of Lawrence May 2010 Sales Tax by NAICS |
|
|
|
|
|||
|
May 2010 |
2006-2008 |
|
|
|
|||
|
NAICS |
Description |
Amount |
Percent |
Percent |
|
|
|
|
22 |
Utilities |
132,100.13 |
8.34% |
2.05% |
|
|
|
|
23 |
Construction |
26,594.87 |
1.68% |
2.31% |
|
|
|
|
31-33 |
Manufacturing |
26,248.01 |
1.66% |
1.59% |
|
|
|
|
42 |
Wholesale Trade |
68,803.39 |
4.34% |
3.26% |
|
|
|
|
44-49 |
Retail Trade and Transportation |
895,344.83 |
56.51% |
61.85% |
|
|
|
|
51-62 |
Information and Professional Services |
140,362.41 |
8.86% |
9.27% |
|
|
|
|
71-72 |
Accommodation and Food Services |
212,545.46 |
13.41% |
13.86% |
|
|
|
|
81-99 |
Services and Other |
82,418.52 |
5.20% |
5.81% |
|
|
|
|
1,584,417.62 |
100.00% |
100.00% |
|
|
|
|
City of Lawrence |
|||||||||
|
Monthly sales/use tax distribution budget variance |
|||||||||
|
1% City |
Over |
County |
Over |
.55% City |
Over |
||||
|
Month |
Sales/Use |
Budget |
(Under) |
Sales/Use |
Budget |
(Under) |
Sales/Use |
Budget |
(Under) |
|
January |
1,063,830 |
1,227,552 |
(163,722) |
684,662 |
806,248 |
(121,586) |
581,473 |
620,496 |
(39,023) |
|
February |
1,163,290 |
1,224,992 |
(61,702) |
746,780 |
787,487 |
(40,707) |
634,104 |
619,203 |
14,901 |
|
March |
1,133,158 |
1,196,600 |
(63,442) |
720,586 |
770,030 |
(49,444) |
620,024 |
604,851 |
15,173 |
|
April |
1,043,705 |
1,045,009 |
(1,304) |
663,834 |
662,421 |
1,413 |
569,543 |
528,225 |
41,318 |
|
May |
1,128,411 |
1,197,689 |
(69,278) |
719,059 |
754,405 |
(35,346) |
617,986 |
605,401 |
12,585 |
|
June |
|
1,226,751 |
|
788,754 |
|
620,091 |
|
||
|
July |
1,240,781 |
824,232 |
627,183 |
||||||
|
August |
1,210,197 |
773,015 |
611,723 |
||||||
|
September |
1,115,490 |
745,489 |
563,851 |
||||||
|
October |
1,271,114 |
821,566 |
642,515 |
||||||
|
November |
1,114,535 |
751,110 |
563,369 |
||||||
|
December |
1,236,351 |
803,443 |
624,944 |
||||||
|
5,532,394 |
14,307,061 |
(359,448) |
3,534,921 |
9,288,200 |
(245,670) |
3,023,130 |
7,231,852 |
44,954 |
|
After the end of the first quarter, the Finance Department prepared a projection of sales/use tax for remainder of 2010. The following table compares the monthly sales/use tax distribution to this projection.
|
City of Lawrence |
|||||||||
|
Monthly sales/use tax projection variance |
|||||||||
|
1% City |
Over |
County |
Over |
.55% City |
Over |
||||
|
Month |
Sales/Use |
Projection |
(Under) |
Sales/Use |
Projection |
(Under) |
Sales/Use |
Projection |
(Under) |
|
January |
1,063,830 |
1,063,830 |
0 |
684,662 |
684,662 |
0 |
581,473 |
581,473 |
0 |
|
February |
1,163,290 |
1,163,290 |
0 |
746,780 |
746,780 |
0 |
634,104 |
634,104 |
0 |
|
March |
1,133,158 |
1,133,158 |
0 |
720,586 |
720,586 |
0 |
620,024 |
620,024 |
0 |
|
April |
1,043,705 |
1,026,557 |
17,148 |
663,834 |
618,658 |
45,176 |
569,543 |
542,099 |
27,444 |
|
May |
1,128,411 |
1,176,541 |
(48,130) |
719,059 |
704,564 |
14,495 |
617,986 |
621,301 |
(3,315) |
|
June |
|
1,205,089 |
|
736,645 |
|
636,378 |
|
||
|
July |
1,218,872 |
769,781 |
643,655 |
||||||
|
August |
1,188,827 |
721,946 |
627,790 |
||||||
|
September |
1,095,792 |
696,238 |
578,661 |
||||||
|
October |
1,248,669 |
767,289 |
659,391 |
||||||
|
November |
1,094,855 |
701,488 |
578,166 |
||||||
|
December |
1,214,520 |
750,363 |
641,358 |
||||||
|
5,532,394 |
13,830,000 |
(30,982) |
3,534,921 |
8,619,000 |
59,671 |
3,023,130 |
7,364,400 |
24,129 |
|