Each of the images below represents the first portion of a three-part spreadsheet devoted to tax revenues and budget estimates for each of four tax revenue sources. The city’s new central purchasing director says this is the data she used to determine sales tax revenue projections for the draft FY2012 budget.
Click on any image to access the rest of the spreadsheet material and larger page sizes.
Note: Spreadsheet revenue totals do not in every case match “Actual” revenue figures in the budgets.
Home Rule Tax
The Home Rule Tax is the city-imposed portion of “regular” sales tax revenues (e.g., not including Restaurant & Bar, which brings in $1.5 – 1.6 million per year).
Municipal Retail Occupation Tax
This is the city’s share of the state sales tax.
FY2011 Budget: $3,407,122
FY2011 Estimate: $3,926,323
FY2012 Budget: $4,021,933
MROT hit an annual revenue high of $4.2 million in FY2008 but has not reached $4 million since then. As you can see below, the city kept budgeting at that mark, which threw off projections by -$400,000 and more for the next two years. FY2011 estimates have shown a recovery, and with budgeted FY2012 MROT back up at $4 million, it’s obviously been interpreted by the budget people as a trend.
Local Use Tax
FY2011 Budget: $503,239
FY2011 Estimate: $602,749
FY2012 Budget: $606,796
FY2011 Budget: $3,771,429
FY2011 Estimate: $3,730,593
FY2012 Budget: $3,787,343
The FY2008 budget projected $4 million in utility tax revenues, but they came in at $3.8 mil that year, and dropped to a low of $3.6 in FY2010 according to the spreadsheet ($3.3 according to the draft FY2012 budget). Rates were hiked as of 7/1/2010 (the beginning of FY2011) but, as you can see, it has not quite made up for the decline.