HomeMy WebLinkAboutFS 2012-02-07 Item 2C - Discussion - Miscellaneous Revenue Report Presentation ScheduleCity of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
TO: Mayor Haggerton
Finance and Safety Committee
FROM: Peggy McCarthy, Interim Finance Director
DATE: February 1, 2012
SUBJECT: Miscellaneous Revenue Report Presentation Schedule
ISSUE
Consider quarterly instead of monthly presentation of the Miscellaneous Revenue Report.
BACKGROUND
The Miscellaneous Revenue Report provides data and commentary on sales tax revenue,
admissions tax revenue and gambling tax revenue. Sales and admissions tax is received on a
monthly basis; gambling tax is received quarterly.
DISCUSSION
Sales tax provides approximately 30% of general fund revenue and is a critical element in the
budget. Sales, admission and gambling taxes are monitored by staff to identify trends and to
adjust financial forecasts. Quarterly reporting instead of monthly reporting will facilitate more in-
depth analysis of these revenue streams without hindering monitoring activities.
RECOMMENDATION
Staff recommends the Miscellaneous Revenue Report be presented on a quarterly basis in 2012
with the first quarter report presented in April, the second quarter report presented in July, the
third quarter report presented in October and the fourth quarter report presented in January of
the following year.
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