Memorandum
City of Lawrence
Finance Department
To: Dave Corliss, City Manager
From: Ed Mullins, Finance Director
Date: June 28, 2010
Subject: Sales Tax Distribution
The City of Lawrence has recently received its June sales tax distribution. The distribution is the result of retail sales from mid-April to mid-May. The distribution of $2,485,624.225 represents a significant increase from the prior year distribution for the same month because of the higher rate. It also includes $1436 from the Free State Transportation Development District and $7019 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 latest city sales/use tax distribution is shown in the table below.
|
Sales/Use Tax |
Budget |
Month |
Year to Date |
% of Budget |
|
City 1% |
14,307,061 |
1,129,325 |
6,661,719 |
46.6% |
|
Infrastructure .3% |
3,944,646 |
336,231 |
1,985,211 |
50.3% |
|
Transit .2% |
2,629,764 |
224,153 |
1,323,472 |
50.3% |
|
Transit Eq. .05% |
657,442 |
56,038 |
330,869 |
50.3% |
|
County 1% |
9,288,200 |
731,423 |
4,266,344 |
45.9% |
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 June 2010 Sales Tax by NAICS |
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June 2010 |
2006-2008 |
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|
NAICS |
Description |
Amount |
Percent |
Percent |
|
|
|
|
22 |
Utilities |
61,505.82 |
3.86% |
2.05% |
|
|
|
|
23 |
Construction |
25,075.21 |
1.57% |
2.31% |
|
|
|
|
31-33 |
Manufacturing |
24,494.75 |
1.54% |
1.59% |
|
|
|
|
42 |
Wholesale Trade |
65,693.82 |
4.12% |
3.26% |
|
|
|
|
44-49 |
Retail Trade and Transportation |
946,771.88 |
59.45% |
61.85% |
|
|
|
|
51-62 |
Information and Professional Services |
139,384.89 |
8.75% |
9.27% |
|
|
|
|
71-72 |
Accommodation and Food Services |
239,703.16 |
15.05% |
13.86% |
|
|
|
|
81-99 |
Services and Other |
90,041.03 |
5.65% |
5.81% |
|
|
|
|
1,592,670.56 |
100.00% |
100.00% |
|
|
|
|
City of Lawrence |
|||||||||
|
Monthly sales/use tax 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 |
1,129,325 |
1,226,751 |
(97,426) |
731,423 |
788,754 |
(57,331) |
616,422 |
620,091 |
(3,669) |
|
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 |
||||||
|
6,661,719 |
14,307,061 |
(456,874) |
4,266,344 |
9,288,200 |
(303,001) |
3,639,552 |
7,231,852 |
41,285 |
|
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. As of the June distribution, the sales/use tax amount was $48,124 below projection.
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City of Lawrence |
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|
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 |
1,129,325 |
1,205,089 |
(75,764) |
731,423 |
736,645 |
(5,222) |
616,422 |
636,378 |
(19,956) |
|
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 |
||||||
|
6,661,719 |
13,830,000 |
(106,746) |
4,266,344 |
8,619,000 |
54,449 |
3,639,552 |
7,364,400 |
4,173 |
|