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Home My WebLink AboutA.SEPTEMBER FINANCIAL REPORTCITY OF PORT ARTHUR FINANCIAL REPORT SEPTEMBER, 2002 PREPARED BY: THE FINANCE DEPARTMENT October 30, 2002 OSCAR G. ORTIZ, MAYOR THOMAS J. HENDERSON, MAYOR PRO-TEM COUNCIL MEMBERS: CRAIG HANNAH FELIX A. BARKER TOM GILLAM, III REV. RONNIE LINDEN BOB BOWERS ROSE MITCHELL CH~,[SSOI~ ,,, ..... MICHAEL "SHANE" ~41~--~,1~Der ,31, -"UU/ Steve Fitzgibbons, City Mayor and Councilmembers City of STEPHEN FITZGIBBONS CITY MANAGER EVANGELINE "VAN" GREEN CITY SECRETARY MARK T. SOKOLOW CITY ATTORNEY I am pleased to present the fmancial report for fire month ended September 30, 2002. Tkis is the preliminary report for the 2002 year end. There are additional year end accruals and audit adjustments to be made. The estimated column reflects the estimates that were used during the 2003 budget preparation process. RESULTS OF OPERATIONS The General Fund had a budgeted deficit, including fiscal 2001 encumbrances carried over, of $668,000. Despite abysmal interest earnings, sluggish sales tax revenue less than budgeted, and a dramatic reduction in the electric gross receipts payment, I expect the General Fund to basically break even for the year, with an ending fund balance of $9.9 million. Tlic preliminary figures for the Water and Sewer Fund reflect revenue 2.5% under budget. Expenses have remained under budget, so the fund has a slight surplus for the year, and an ending fund deficit of $2.5 million. The Solid Waste Fund has performed near budget estimates and will end the year with a slight deficit. INVESTMENT REPORT The monthly investment report reflects that the City complied with adopted investment policies and that the total $48.7 million portfolio, which includes EDC and bond funds, earned interest of $81,851.69 for the month. TAX REPORT The tax report reflects collections from the Jefferson Tax Office of $56,138 and industrial collections by the Finance Department of $2,275,000, for total collections of $2,331,138. DISBURSEMENT REGISTER The disbursement register is presented to Council as is required. I appreciate the opportunity to present this information to you and look forxvard to your comments and questions. Finance Director P.O. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/983-8115 · FAX 409/983-8291 o o °; °; °; cio- o~§ o 0 0 W .~m ,,, 0 m 0 0 o CD 0 0 0 D~o ts. 0 0 ~- · m 0 0 ~0 ou~ 0 0 ~ ~ ~ 0 City of Port Arthur Taxes collected for September, 2002 Pursuant to Section 31. I 0 of Texas Property Tax Code, the attached report of taxes, penalty and interest collected through the month of September, 2002. Collected by Jefferson County Tax Assessor-Collector Collected by Orange County Tax Assessor-Collector Collected by Finance Department $ 56,137.51 2,275,000.00 $ . 2,331,137.51 September Less YTD Amount Percentage 2002 Collections Refunds Collections Budgeted YTD Current $ 23,181.21 $ 3,454.48 $ 8,518,231.45 $ $8,677,450 98.17% Delinquent 9,922.89 16.79 220,485.95 200,000 110.24% P & I 9,178.01 173.40 191,669.30 220,000 87.12% Other 17,500.07 39,052.04 25,000 156.21% Total $ 59,782.18 $ 3,644.67 $ 8,969,438.74 $ 9,122,450 98.32% This report shows that $ 8,969,438.74 or 98.32% of the amount budgeted from property tax sources has been collected through September, 2002. Five Year Collection History -- Property Taxes Tax September Less YTD Amount Percentage Year Collections Refund Collections Budgeted YTD 2001 $ 59,782.18 $ 3,644.67 $ 8,969,438.74 $ 9,122,450 98.32% 2000 46,923. l 6 290.15 8,883,928.74 8,929,780 99.49% 1999 56,894.29 237.33 8,643,183.61 8,510,744 101.56% 1998 45,630.69 840.59 8,694,509.46 8,818,000 98.60% 1997 61,000.13 8,320.55 7,193,6 ! 3.38 7,328,530 98.16% Five Year Collection History -- Industrial District Payments September Less YTD Amount Percentage Industrial Collections Refund Collections Budgeted YTD 2001 $ 2,275,000.00 $ - $ 15,848,972.00 15,580,295 101.72% 2000 12,503,377.90 12,501,404 100.02% 1999 216,672.50 12,518,019.05 12,547,569 99.76% 1998 341,672.50 11,897,845.37 11,632,142 102.28% 1997 - [2,362,765.98 13,385,850 92.36% 1~ ~m WILLIAM~ TRUSS MIRIAM K. JOHNSON TAX ASSESSOR-COLLECTOR ~EFFER~qON COUNTY COURTHOUSE P. O. BOX 2112 BEAUMONT, ~ 77704 409-835-8516 FAX 40~-835-$589 CHI'El{ OPERAT{ON{ MGR. STATE OF TEXAS COUNTY OF JEFFERSON I, Miriam K. Johnson, the Tax Assessor-Collector of Jefferson County, Texas, and also, by contract or statute, the Tax Assessor-Collector for affirm, under oath, that this amount CITY OF PORT ARTHUR September, 2002. CITY OF PORT ARTHUR $56,137.51 , represents all taxes collected for during the month of Miri/am K. JohnsOn / CITY OF PORT ARTHUR RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS FOR SEPTEMBER 2002 VOUCHERS ISSUED Date Voucher # 9/3/02 095965 9/3/02 095966 9/5/02 096006 9/5/02 096007 9/9/02 096027 9/9/02 096028 9/16/02 096077 9/16/02 096078 9/20/02 096115 9/20/02 096116 9/23/02 096130 9/23/02 096131 9/24/02 096158 9/26/02 096164 9/26/02 096165 9/30/02 096203 9/30/02 096204 Current Delinquent Amount Amount $4,119.42 $3,169.67 $3,302.05 $2,486.17 $1,944.04 $3,326.84 $3,783.17 $1,571.01 $4,232.10 $939.13 $350.83 $791.52 $17,500.07 $4,863.56 $1,816.00 $1,298.95 $833.62 PRIOR MONTH COLLECTIONS TO BE DISBURSED Current Disbursements $23,894.12 Delinquent Disbursement LESS TOTAL DISBURSEMENTS Current Collections $24,017.85 Delinquent Collection PLUS TOTAL COLLECTIONS SUBTOTAL ADJUSTMENTS Current Adjustments $0.00 Delinquent Adjustments PLUS TOTAL DISBURSEMENT ADJUSTMENTS TOTAL FUNDS TO BE DISBURSED $32,434.03 $32,119.66 $7,289.09 $56,328.15 $56,137.51 $7,098.45 $0.00 $0.00 $7,098.45 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR SEPTEMBER 2002 CURRENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections Personal Raw Tax Collections TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds Personal Raw Tax Refunds LESS TOTAL RAW TAX REFUNDS Real Supplemental Refunds Personal Supplemental Refunds LESS TOTAL SUPP REFUNDS NET RAW TAX COLLECTIONS Real P & I on Raw Tax Collections Personal P & I on Raw Tax Collections TOTAL P & I ON COLLECTIONS Real P & I on Raw Tax Refunds Personal P & I on Raw Tax Refunds LESS P & I ON RAW TAX REFUNDS $21,938.01 $1,243,20 $23,181.21 $283.35 $38.75 $322.10 $3,128.50 $3.88 $3,132.38 $4,215.37 $238.08 $4,453.45 $52.12 $6.98 $59.10 $19,726,73 Real P & I on Supplemental Refunds Pemonal P & I on Supplemental Refunds LESS P & I ON SUPP REFUNDS $102.49 $0.74 $103.23 NET PENALTY & INTEREST NET COLLECTED Add Back Refunds Reimbursed Separately by Entity NET DOLLARS COLLECTED MISCELLANEOUS IN LIEU OF TAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS TOTAL CURRENT COLLECTIONS $0.00 $0.00 $o.oo $4,291.12 $24,017.85 $0.00 $24,017.85 $0.00 $24,017.85 $o.oo $24,017.85 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR SEPTEMBER 2002 DELINQUENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections $9,557.09 Personal Raw Tax Collections $365.80 TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds $16.79 Personal Raw Tax Refunds $3.00 LESS TOTAL RAW TAX REFUNDS Real Supplemental Refunds $0.00 Personal Supplemental Refunds $0.00 LESS TOTAL SUPP REFUNDS NET RAW TAX COLLECTIONS Real P & I on Raw Tax Collections $4,511.13 Personal P & I on Raw Tax Collections $213.43 TOTAL P & I ON COLLECTIONS Real P & I on Raw Tax Refunds $11.07 Personal P & I on Raw Tax Refunds $0.00 LESS P & I ON RAW TAX REFUNDS Real P & I on Supplemental Refunds $0.00 Personal P & I on Supplemental Refunds $0.00 LESS P & I ON SUPP REFUNDS NET PENALTY & INTEREST NET COLLECTED Add Back Refunds Reimbumed Separately by Entity NET DOLLARS COLLECTED $9,922.89 $16.79 $0.00 $4,724.56 $11.07 $9,906.10 $4,713.49 $14,619.59 $0.00 MISCELLANEOUS IN LIEU OFTAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED $17,500.07 $0.00 TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUALADJUSTMENTS $14,619.59 $17,500.07 $32,119.66 $0.00 $3,00 TOTAL DELINQUENT COLLECTIONS $32,119.66 TOTAL CURRENT AND DELINQUENT COLLECTIONS $56,137.51 CITY OFPORTARTHUR CURRENT TAX RECEIVABLE UPDATE FOR SEPTEMBER2002-TAX YEAR2001 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Supplemental Refunds NET CURRENT COLLECTIONS REAL PERSONAL TOTAL $394,197.75 $91,898.48 $486,096.23 ($3,660.95) ($4,951.79) ($8,612.74) $390,536.80 $86,946.69 $477,483.49 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $390,536.80 $86,946.69 $477,483.49 $21,938.01 $1,243.20 $23,181.21 $283.35 $38.75 $322.10 $3,128.50 $3.88 $3,132.38 $18,526.16 $1,200.57 $19,726.73 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $372,010.64 $85,746.12 $457,756.76 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF SEPTEMBER 2002 FOR CURRENT TAX YEAR 2001 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Supplemental Refunds NET CURRENT COLLECTIONS REAL PERSONAL TOTAL $5,683,947.83 $2,372,913.94 $8,056,861.77 ($25,722.22} $9,155.60 ($16,566.62) $5,658,225.61 $2,382,069.54 $8,040,295.15 ($6.67) ($388.41) ($395.08) $0.00 $0.00 $0.00 $5,658,218.94 $2,381,681.13 $8,039,900.07 $5,356,872.17 $2,301,324.38 $7,658,196.55 $55,146.30 $5,385.49 $60,531.79 $15,517.57 $3.88 $15,521.45 $5,286,208.30 $2,295,935.01 $7,582,143.31 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE PERCENTAGE OF RECEIVABLE TO DATE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $372,010.64 $85,746.12 $457,756.76 93.43% 96.40% 94.31% CITY OF PORT ARTHUR DELINQUENT TAX RECEIVABLE UPDATE FOR SEPTEMBER 2002 - TAX YEAR 2001 BEGINNING RECEIVABLE Supp Lew Increase(Decrease) REVISED TAX RECEIVABLE Levy(Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Delinquent Collections Less Regular Refunds Less Supplemental Refunds NET DELINQUENT COLLECTIONS REAL PERSONAL TOTAL $1,419,915.85 $582,897.16 $2,002,813.01 $555.29 ($387.50) $167.79 $1,420,471.14 $582,509.66 $2,002,980.80 $0.00 $0.00 $0,00 $0.00 $0.00 $0.00 $1,420,471.14 $582,509.66 $2,002,980.80 $9,557.09 $365.80 $9,922.89 $16.79 $0.00 $16.79 $0.00 $0.00 $0.00 $9,540.30 $365.80 $9,906.10 Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,410,930.84 $582,143.86 $1,993,074.70 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF SEPTEMBER 2002 FOR DELINQUENT TAX YEARS - TAX YEAR 2001 REAL PERSONAL TOTAL BEGINNING RECEIVABLE Supp Lew Increase(Decrease) REVISED TAX RECEIVABLE Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Delinquent Collections Less Regular Refunds Less Supplemental Refunds NET DELINQUENT COLLECTIONS Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE PERCENTAGE OF RECEIVABLE TO DATE $1,707,669.78 $701,775.24 $2,409,445.02 ($19,989.62) ($5,747.73) ($25,737.35) $1,687,680.16 $696,027.51 $2,383,707.67 ($58,448.31) $0.00 ($58,448.31) ($19,222.90) ($92,475.81) ($111,698.71 ) $1,610,008.95 $603,551.70 $2,213,560.65 $218,161.37 $21,846.50 $240,007.87 $856.34 $0.00 $856.34 $18,226.92 $438.66 $18,665.58 $199,078.11 $21,407.84 $220,485.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,410,930.84 $582,143.86 $1,993,074.70 12.37% 3.55% 9.96% m