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INFORMATIONAL MEMO
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<br />Below is Schedule IV which shows quarterly gambling tax earned in 2017 compared to 2016.
<br />Schedule IV - Gambling Tax (a)
<br />(d) 2017 INCREASE (DECREASE)
<br />Quarter 2016 2017 Allocated YEAR OVER YEAR BUDGET VARIANCE
<br />Earned Actual Actual Budget Amount % Amount %
<br />Q1 $ 950,379 $ 977,003 $ 989,745 $ 26,624 3% $ (12, 742) -1%
<br />Q2 867,047 - 902,961 - - - -
<br />Q3 927,316 - 965,727 - - - -
<br />Q4 934,269 - 972,968 - - - -
<br />Totals $ 3,679,011 $ 977,003 $ 3,831,400 $ 26,624 - $ (12,742) -
<br />Gambling tax revenue during first quarter 2017 came in below the allocated budget estimate by
<br />$12.7K, or down 1 %. However, gambling tax revenue was also nearly $27K, or 3% higher than
<br />2016. Casinos within the City continue to do well.
<br />Schedule V shows monthly admissions tax receipts for the prior year and current year to date.
<br />Schedule V - Admissions Tax (b)
<br />(d) 2017 INCREASE (DECREASE)
<br />Quarter 2016 2017 Allocated YEAR OVER YEAR BUDGET VARIANCE
<br />Earned Actual Actual Budget Amount % Amount %
<br />Q1 $ 161,269 $ 166,003 $ 178,187 $ 4,734 3% $ (12,183) -7%
<br />Q2 156,588 - 173,014 - - - -
<br />Q3 157,862 - 174,422 - - - -
<br />Q4 157,821 - 174,377 - - - -
<br />Totals $ 633,640 $ 166,003 $ 700,000 $ 4,734 - $ (12,183) -
<br />While first quarter 2017 admissions tax revenue received was $12K, or 7% less than budgeted
<br />projections, revenue was nearly $5K, or 3% higher than 2016.
<br />Schedule VI shows monthly telecommunications utility tax receipts for 2017 compared to 2016.
<br />Schedule VI - Telecommunications Utility Tax (°)
<br />(d) 2017 INCREASE (DECREASE)
<br />Quarter 2016 2017 Allocated YEAR OVER YEAR BUDGET VARIANCE
<br />Earned Actual Actual Budget Amount % Amount
<br />Q1 $ 348,156 $ 323,708 $ 339,620 $ (24,448) -7% $ (15, 912) -5%
<br />Q2 321,852 - 313,961 - - - -
<br />Q3 317,156 - 309,380 - - - -
<br />Q4 343,515 - 335,093 - - - -
<br />Totals $ 1,330,679 $ 323,708 $1,298,063 $ (24,448) - $ (16,912) -
<br />Current first quarter 2017 telecommunications utility tax is down by $15K, or 5% under budget
<br />and is $24K, or 7% less than 2016 actual for the same period last year.
<br />(a) Gambling tax currently includes card games, punch boards, pull tabs, and amusement games.
<br />(b) Excludes golf course admissions tax.
<br />(0) Telecommunications Utility tax currently includes cellular, pager and telephone usage.
<br />(d) Actuals reflected in Schedules IV, V and VI are amounts earned for the quarter.
<br />C:\ Users\ Vicky- C\AppData \Local \Microsoft \Windows \Temporary Internet Files \Content.0utlook \QM7lZ624 \Info Memo Sales Tax - 2017 -Q1 2017MEMO (June
<br />2017).docx
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