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HomeMy WebLinkAbout13. June Revenue Updates TOWN OF VAIL REVENUE UPDATE June 5, 2018 Sales Tax Upon receipt of all sales tax returns, April collections are estimated to be $1,171,550 down 15.5% from last year and down 10.0% compared to budget. Year to date collections of $12,713,412 are up 2.1% from prior year and down 0.4% from budget. Inflation as measured by the consumer price index was up 2.5% for April. The annual budget totals $26.0 million. To eliminate the variances due to the impact of how the Easter holiday fell, staff has combined March and April results. March and April combined collections are estimated to be $5,320,236 up 5.8% from prior year and down 0.8% from budget. Real Estate Transfer Tax (RETT) RETT collections through May 30 total $3,073,625 up 65.1% from this time last year. The annual 2018 RETT budget totals $6.1 million. Construction Use Tax Use Tax collections through May 30 total $988,167 compared to $633,725 from this time last year. The annual budget totals $1,975,900. Summary Across all funds, year-to-date total revenue of $33.8 million is up 2.6 % from amended budget and up 3.7% from prior year. - 1 -