Financial Services Sales Tax Division 215 N. Mason Street 2 nd Floor PO Box 580Fort Collins, CO 80522-0580 970.221.6780 970.221.6782 - fax fcgov.com Sales and Use Tax Collection Report April 2013 Issued May 10, 2013 This report reflects Sales and Use Tax collected in April for economic activity that occurred in March. Please note the sales and use tax collected in April is predominately from March sales but also includes delinquent collections from prior periods. APRIL SUMMARY OVER PRIOR YEAR April Year to Date Sales Tax Collected: 2.5% 3.8% Use Tax Collected Excluding Rebates: -14.8% 6.4% Sales and Use Tax Collected Excluding Rebates: -0.6% 4.2% Year to date, sales and use tax collections excluding rebates are up 4.2% and total $35.8 million. Figure 1. Budget to - Sales and Use Tax Collected Excluding Rebates April Sales Tax Budget to. In April 2013, sales tax collected in Fort Collins was $26K under the amount budgeted. Year to date, the City has collected 1.0% more sales tax revenue than budgeted, for a net gain of $294K. April Use Tax Budget to Excluding Rebates. In April 2013, use tax collected in Fort Collins was $115K over the amount budgeted. Year to date, the City has collected 8.2% more use tax revenue than budgeted for a net gain of $400K. 1
Figure 2. Budget to - Sales Tax Collected % Year to Date % Over/(Under) Over/(Under) Year to Date Annual Over/(Under) Month Budget Budget Budget Budget Annual Budget January $ 9,484,242 $ 9,370,615 $ 113,627 1.2% $ 9,484,242 $ 9,370,615 1.2% February 6,903,797 6,784,681 119,116 1.8% 16,388,039 16,155,296 1.4% March 6,665,229 6,578,163 87,066 1.3% 23,053,268 22,733,459 1.4% April 7,539,909 7,565,849 (25,940) -0.3% 30,593,177 30,299,308 1.0% May - - - 0.0% - 37,335,401 0.0% June - - - 0.0% - 44,739,629 0.0% July - - - 0.0% - 52,772,382 0.0% August - - - 0.0% - 60,086,818 0.0% September - - - 0.0% - 68,146,508 0.0% October - - - 0.0% - 75,757,252 0.0% November - - - 0.0% - 82,766,409 0.0% December - - - 0.0% - 89,856,400 0.0% $ 30,593,177 $ 30,299,308 $ 293,869 Figure 3. Budget to Use Tax Collected % Year to Date % Over/(Under) Over/(Under) Year to Date Annual Over/(Under) Month Budget Budget Budget Budget Annual Budget January $ 1,364,944 $ 1,217,181 $ 147,763 12.1% $ 1,364,944 $ 1,217,181 12.1% February 1,187,080 1,217,181 (30,101) -2.5% 2,552,024 2,434,362 4.8% March 1,385,687 1,217,181 168,506 13.8% 3,937,711 3,651,543 7.8% April 1,331,430 1,217,181 114,249 9.4% 5,269,141 4,868,724 8.2% May - - - 0.0% - 6,085,905 0.0% June - - - 0.0% - 7,303,086 0.0% July - - - 0.0% - 8,520,267 0.0% August - - - 0.0% - 9,737,448 0.0% September - - - 0.0% - 10,954,629 0.0% October - - - 0.0% - 12,171,810 0.0% November - - - 0.0% - 13,388,991 0.0% December - - - 0.0% - 14,612,000 0.0% Net Collections 5,269,141 4,868,724 400,417 8.2% YTD Rebates 474,091 1,174,532 (700,441) 3,525,000 Total Collections $ 5,743,232 $ 6,043,256 $ (300,024) -5.0% $ 18,137,000-1.7% Figure 4. Budget to Sales and Use Tax Distribution Fund Streets and Transportation (.25%) Building on Basics Projects (.25%) Natural Areas and Parks (.25%) Keep Fort Collins Great (.85%) * General Fund (2.25%) (net of rebates) General Fund Economic Rebates Total Collections Over/(Under) % Budget Budget Over/(Under) Apr YTD Apr YTD Apr YTD Budget 2,166,316 2,136,449 29,867 1.4% 2,166,316 2,136,449 29,867 1.4% 2,166,316 2,136,449 29,867 1.4% 7,365,476 7,084,557 280,919 4.0% 21,997,894 21,674,127 323,767 1.5% 474,091 1,174,532 (700,441) -59.6% $ 36,336,409 $ 36,342,564 $ (6,155) 2
Figure 5. Sales and Use Tax Collected 2012 April 2013 % Change 2012 Year to Date 2013 % Change SALES TAX COLLECTIONS Grocery, Convenience, Liquor $937,859 $998,760 6.5% $4,124,064 $4,450,716 7.9% Restaurants, Caterers and Bars 1,108,119 1,148,032 3.6% 4,128,688 4,256,652 3.1% General Merchandise 855,632 849,498-0.7% 3,597,360 3,633,568 1.0% Vehicle Sales, Parts and Repairs 619,794 579,308-6.5% 2,217,553 2,248,523 1.4% Building Materials, Garden Equipment & Supplies 488,884 521,902 6.8% 1,678,792 1,932,038 15.1% Sporting, Hobby, Book, Music 371,169 374,322 0.8% 1,841,792 1,900,152 3.2% Broadcasting and Telecommunications 396,452 347,147-12.4% 1,614,461 1,403,433-13.1% Electronics and Appliances 400,054 478,675 19.7% 1,650,422 1,726,057 4.6% Miscellaneous Retailers 386,354 439,220 13.7% 1,623,195 1,784,235 9.9% Utilities 414,518 413,646-0.2% 1,771,605 1,736,787-2.0% Clothing and Accessories 306,883 274,596-10.5% 1,187,761 1,203,407 1.3% Pharmacy, Salon and Laundry 183,980 179,185-2.6% 773,827 734,422-5.1% Other 214,576 210,638-1.8% 786,448 821,925 4.5% Rental and Leasing Services 148,487 145,860-1.8% 510,542 525,884 3.0% Furniture and Home Furnishings 133,214 173,488 30.2% 548,074 713,116 30.1% Wholesale Trade 128,604 146,977 14.3% 497,587 507,203 1.9% Lodging 109,986 127,699 16.1% 382,418 409,216 7.0% Manufacturing 153,900 130,956-14.9% 545,894 605,843 11.0% TOTAL SALES TAX 7,358,465 7,539,909 2.5% 29,480,483 30,593,177 3.8% USE TAX COLLECTIONS Building Permits 240,531 325,495 35.3% 867,925 1,418,954 63.5% Car Tax 347,793 348,457 0.2% 1,144,609 1,307,437 14.2% Return Tax 1,079,064 699,599-35.2% 3,393,820 3,016,841-11.1% TOTAL USE TAX 1,667,388 1,373,551-17.6% 5,406,354 5,743,232 6.2% Less Economic Rebates (104,216) (42,121) -59.6% (455,558) (474,091) 4.1% NET USE TAX 1,563,172 1,331,430-14.8% 4,950,796 5,269,141 6.4% SALES & USE TAX COLLECTIONS Total Sales & Use Tax 9,025,853 8,913,460-1.2% 34,886,837 36,336,409 4.2% Less Economic Rebates (104,216) (42,121) -59.6% (455,558) (474,091) 4.1% NET SALES & USE TAX 8,921,637 8,871,339-0.6% 34,431,279 35,862,318 4.2% SALES & USE TAX DISTRIBUTION Streets and Transportation (.25%) 543,719 534,519-1.7% 2,078,226 2,166,316 4.2% Building on Basics Projects (.25%) 543,719 534,519-1.7% 2,078,226 2,166,316 4.2% Natural Areas (.25%) 543,719 534,519-1.7% 2,078,226 2,166,316 4.2% Keep Fort Collins Great (.85%) 1,848,645 1,817,363-1.7% 7,065,968 7,365,476 4.2% General Fund (2.25%) 5,546,051 5,492,540-1.0% 21,586,191 22,471,985 4.1% Less General Fund Economic Rebates (104,216) (42,121) -59.6% (455,558) (474,091) 4.1% NET SALES & USE TAX $8,921,637 $8,871,339-0.6% $34,431,279 $35,862,318 4.2% April Sales Tax Collected. In April 2013, sales tax collected in Fort Collins increased 2.5% over April 2012. Sales tax collected totaled $7.5 million compared to $7.4 million in 2012. April Use Tax Collected. The total use tax collected in April was $1.4 million, a decrease of 17.6% compared to last April. The estimated use tax collected in April related to economic incentive agreements was $42,121 as illustrated on Figure 5. This amount will be rebated in the succeeding calendar year. The net use tax collections for April totaled $1.3 million for a net 14.8% decrease. Total Sales and Use Tax Collected. Total tax collected of $8.9 million was 1.2% lower than last April. 3
Figure 6. April Collections* *Total collections prior to rebates. Figure 7. Year to Date Collections * *Total collections prior to rebates. 4
Figure 8. Net Taxable % % $ in millions 2012 2013 Change 2012 2013 Change SALES TAX Grocery, Convenience, Liquor $32.8 $35.3 7.4% $145.8 $157.9 8.3% Restaurants, Caterers and Bars 28.7 30.1 4.9% 107.6 111.0 3.2% General Merchandise 25.2 24.6-2.4% 105.3 104.2-1.1% Vehicle Sales, Parts and Repairs 16.1 15.0-6.7% 57.5 58.3 1.4% Building Materials, Garden Equipment & Supplies 12.8 13.5 5.3% 43.6 50.2 15.2% Sporting, Hobby, Book, Music 9.6 9.7 1.0% 48.2 49.4 2.6% Broadcasting and Telecommunications 10.3 9.0-12.5% 40.3 36.4-9.6% Electronics and Appliances 10.4 12.4 19.5% 42.8 44.8 4.7% Miscellaneous Retailers 10.1 11.5 14.7% 41.9 46.8 11.6% Utilities 10.8 10.7-0.2% 46.0 45.1-2.0% Clothing and Accessories 7.9 7.1-10.3% 30.8 31.2 1.3% Pharmacy, Salon and Laundry 4.9 4.8-1.5% 20.7 19.7-4.8% Other 5.5 5.4-1.4% 20.2 21.2 5.0% Rental and Leasing Services 3.9 3.8-2.0% 13.3 13.5 1.6% Furniture and Home Furnishings 3.5 4.5 29.9% 14.3 18.6 29.9% Wholesale Trade 3.4 3.9 13.9% 13.4 13.5 0.9% Lodging 2.9 3.3 15.9% 9.9 10.6 7.0% Manufacturing 4.1 3.3-20.6% 14.8 15.9 7.9% NET TAXABLE SUBJECT TO SALES TAX 202.8 208.0 2.6% 816.4 848.5 3.9% USE TAX Building Permits 6.2 8.5 35.3% 22.5 36.9 63.5% Car Tax 9.0 9.1 0.2% 29.7 34.0 14.2% Return Tax 28.0 18.2-35.2% 88.2 78.4-11.1% NET TAXABLE SUBJECT TO USE TAX 43.3 35.7-17.6% 140.4 149.2 6.2% TOTAL NET TAXABLE SUBJECT TO SALES & USE TAX $246.1 $243.7-1.0% $956.8 $997.7 4.3% April Year to Date Figure 9. Local Retail Compared to National Retail Retail Sales Category % Change from March 2012 United States % Change from March 2012 Fort Collins Grocery, Convenience, Liquor 3.0 7.4 Restaurants, Caterers & Bars 4.3 4.9 General Merchandise -4.9-2.4 Vehicle Sales, Parts & Repairs 6.5-6.7 Building Materials, Garden Equipment & Supplies 0.8 5.3 Clothing & Accessories 2.1-10.3 Furniture & Home Furnishings 2.8 29.9 Total 2.8 2.6 At the national level, March retail sales (as reported on April 12th) increased 2.8% compared to the increase in Fort Collins sales of 2.6%. March sales are the basis for the City s April sales tax collections and net taxable amounts (which are included in this report). 5
Figure 10. April 2013 - Net Taxable Sales Subject to Sales Tax Figure 11. Year to Date - Net Taxable Sales Subject to Sales Tax Figure 12. Supplementary Information Sales and Use Tax in the City s Downtown Area. The sales and use tax collected in April for the downtown area increased 0.8 % from the same period in 2012. Lodging Tax Collections. The City collected $77,268 in lodging taxes in April. This was an increase of 7.2% from April 2012. Sales Tax Licenses. The City received 117 applications for sales tax licenses for new businesses and 52 businesses terminated their license in April. There were 10,939 active sales tax licenses at the end of April. 6