TO: Mayor Bien-Willner and Town Council Members
FROM: Jill Keimach, Town Manager
Douglas Allen, CFO
DATE: June 25, 2020
DEPARTMENT: Finance
Staff Contact Douglas Allen
End
AGENDA TITLE:
Title
Information and Possible Discussion on the Town’s Actual Revenue Collections to-date
Body
SUMMARY STATEMENT:
On June 11th, 2020, the Mayor and Town Council approved the Town’s budget for 2020/21. Part of the FY2020/21 budget expectations is for the Mayor and Council to receive regular (at least monthly) updates regarding the Town’s actual revenue collections.
This is the first such monthly update and focuses on the actual Town’s local Transaction Privilege Taxes (TPT) and Occupancy Taxes that were collected and received through April 2020. These actual collections will be compared to the forecasted revenues presented in the FY2020/21 adopted budget.
The Town receives revenues collected by Arizona Department of Revenue (ADOR) two months in arrears. Taxable activities in April are remitted to ADOR in May; which are available and reported to the Town mid-to-late-June.
At the time of printing this item, the Town’s April Transaction Privilege Tax (TPT) and Occupancy Tax amounts were not available.
By Wednesday June 24th, staff will update this agenda item, including revenue analysis, based on April’s revenue subsequently received from ADOR.
ATTACHMENT(S):
Available by Wednesday June 24th: Analysis of April’s revenue based on data provided by ADOR subsequent to time of printing this agenda item.