HomeMy WebLinkAbout151103 Revenue Highlights - 1 -
TOWN OF VAIL REVENUE HIGHLIGHTS November 3, 2015 Sales Tax Upon receipt of all sales tax returns, September collections are estimated to be $1,236,105, up 17.3% from last year and up 9.9% compared to budget. Year to date collections of $19,359,498 are up 5.7% from the prior year and up 2.7% from budget. For comparative purposes due to the timing of Labor Day weekend,
the sum of August and September sales tax collections are $1,890,362, up 5.9% from the same time period last year and 2.5% from budget. Inflation as measured by the consumer price index was up 0.0% for September. The annual budget totals $24.5 million.
Real Estate Transfer Tax (RETT) RETT collections through October 27 total $5,105,458 down 6.1% from this time last year. 2014 annual collections totaled $6,849,449, a record year since the
peak in 2008. The 2015 amended budget of $6,190,000 is a 9.6% reduction from prior year actuals. Construction Use Tax Use Tax collections through October 27 total $2,172,957 up 1% compared to $2,146,956 from this time last year. The annual budget totals $1.8 million.
Summary Across all funds, year-to-date total revenue of $50.2 million is up 14.5% from the amended budget and up 5.8% from prior year, mainly due to increases in sales tax and construction related fees. Total year-to-date revenue is 80% of annual
budgeted revenues of $62.8 million.