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INFORMATIONAL MEMO
<br />Page 6
<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
<br />Quarter 2016 2017 Allocated
<br />Earned Actual Actual Budget
<br />INCREASE (DECREASE)
<br />YEAR OVER YEAR BUDGET VARIANCE
<br />Amount % Amount
<br />Q1 $ 950,379 $ 977,003 $ 989,745
<br />Q2 867,047 983,322 902,961
<br />Q3 927,316 965,727
<br />Q4 934,269 972,968
<br />$ 26,624
<br />116,276
<br />3% $ (12,742)
<br />13% 80,361
<br />-1%
<br />9%
<br />Totals $ 3,679,011 $1,960,325 $ 3,831,400
<br />$ 142,899
<br />67,619 -
<br />Gambling tax revenue for second quarter 2017 came in above the previous year by $80K, or up
<br />by 13%. As a result, overall year-to-date gambling tax revenue is up by a total of $143K, or has
<br />increased nearly 8% when compared with 2016 and has exceeded year-to-date allocated budget
<br />by nearly $70K, or up by approximately 4%. 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
<br />Quarter 2016 2017 Allocated
<br />Earned Actual Actual Budget
<br />INCREASE (DECREASE)
<br />YEAR OVER YEAR BUDGET VARIANCE
<br />Amount % Amount
<br />Q1 $ 161,269 $ 166,003 $ 178,187
<br />02 156,588 157,574 173,014
<br />Q3 157,862 174,422
<br />Q4 157,821 174,377
<br />Totals $ 633,540 $ 323,577 $ 700,000
<br />$ 4,734 3% $ (12,183) -7%
<br />986 1% (15,441) -9%
<br />$ 5,720 - $ (27, 624)
<br />While second quarter 2017 admissions tax revenue received was $15K, or 9% less than budgeted
<br />projections, year-to-date revenue is up by nearly $6K, or approximately 2% 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
<br />Quarter 2016 2017 Allocated
<br />Earned Actual Actual Budget
<br />INCREASE (DECREASE)
<br />YEAR OVER YEAR BUDGET VARIANCE
<br />Amount % Amount cyo
<br />Q1 $ 348,156 $ 323,708 $ 339,620
<br />Q2 321,852 312,456 313,961
<br />Q3 317,156 - 309,380
<br />Q4 343,515 - 335,093
<br />$ (24,448)
<br />(9,397)
<br />-7% $ (15,912)
<br />-3% (1,505)
<br />-5%
<br />0%
<br />Totals $1,330,679 $ 636,164 $1,298,053
<br />$ (33,845)
<br />$ (17,417) -
<br />Current second quarter 2017 telecommunications utility tax remained stable as compared to
<br />allocated budget and is $9K, or just 3% below 2016 actual for the same period.
<br />(a)
<br />(b)
<br />(c)
<br />(d)
<br />Gambling tax currently includes card games, punch boards, pull tabs, and amusement games.
<br />Excludes golf course admissions tax.
<br />Telecommunications Utility tax currently includes cellular, pager and telephone usage.
<br />Actuals reflected in Schedules IV, V and VI are amounts earned for the quarter.
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