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HomeMy WebLinkAbout(4) 2002 OCT. FINANCIAL REPORTOSCAR 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 CHAISSON MICHAEL "SHANE" SlNEGAL C~ty of Texas STEPHEN FITZGIBBONS CITY MANAGER EVANGELINE "VAN" GREEN CITY SECRETARY MARK T. SOKOLOW CITY ATTORNEY December 19, 2002 Steve Fitzgibbons, City Manager Mayor and Councilmembers I am pleased to present the financial report for the month ended October 31, 2002. This is the first month of the new fiscal year, and the report includes preliminary est/mates for the beginning fund balances for all funds. RESULTS OF OPERATIONS Most of the Industrial Revenue was received in October in the General Fund. The remaining payments will be received in September. Property Tax revenue will increase in the months of December and January. Ail of the funds are performing as expected for the first month of the year. INVESTMENT REPORT The monthly investment report reflects that the City complied with adopted investment policies and that the total $53.8 million portfolio, which includes EDC and bond funds, earned interest of $85,781.04 for the month. TAX REPORT The tax report reflects collections from the Jefferson Tax Office of $140,252, Orange County Tax Office of $223.05, and industrial collections by the Finance Department of $10,982,775, for total collections of $10,982,775. DISBURSEMENT REGISTER The disbursement register is presented to Council as is required. I appreciate the opportunity to present this information to you and look forward to your comments and questions. Rebecca Underkill Finance Director RO. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/9834115 · FAX 409/983-8291 m o ooo o ~ m 0 0 o ~,~o ~ City of Port Arthur Taxes collected for October, 2002 Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and interest collected through the month of October, 2002. Collected by Jefferson County Tax Assessor-Collector Collected by Orange County Tax Assessor-Collector Collected by Finance Department $ 140,252.44 223.05 10,842,300.00 $ 10,982,775.49 October Less YTD Amount Percentage 2003 Collections Refunds Collections Budgeted YTD Current $ 93,924.84 $ 11.24 $ 93,913.60 $ $9,019,639 1.04% Delinquent 35,227.30 302.22 34,925.08 195,000 17.91% P & I 11,694.22 57.41 11,636.81 220,000 5.29% Other 25,000 Total $ 140,846.36 $ 370.87 $ 140,475.49 $ 9,459,639 1.48% This report shows that $140,475.49 or 1.48% of the amount budgeted from property tax sources and $10,842,300.00 of budgeted industrial revenue has been collected through October, 2002. Five Year Collection History. -- Property. Taxes Tax October Less YTD Amount Year Collections Refund Collections Budgeted 2002 $ 140,846.36 $ 370.87 $ 140,475.49 $ 9,459,639 2001 226,965.94 195.64 226,770.30 9,122,450 2000 232,747.06 83.16 232,663.90 8,929,780 1999 166,496.25 166,496.25 8,510,744 1998 211,909.12 77.56 211,831.56 8,212,200 Percentage YTD 1.48% 2.49% 2.61% 1.96% 2.58% Five Year Collection History -- Industrial District Payments October Less YTD Amount Industrial Collections Refund Collections Budgeted 2002 $ 10,842,300.00 $ - $ 10,842,300.00 13,318,973 2001 13,530,800.00 13,530,800.00 13,330,295 2000 12,161,705.40 12,161,705.40 12,501,404 1999 12,301,346.55 12,301,346.55 12,547,569 1998 11,556,172.87 77.56 11,897,845.37 11,632,142 Percentage YTD 81.40% 101.50% 97.28% 98.04% 102.28% MIRIAM K. JOHNSON TAX ASSESSOR-COLLECTOR /EFFERSON COUNT~ COURTHOUSE P. O. BOX 2112 BEAUMONT, TI/XAS 77704 STATE OF TEXAS COUNTY OF JEFFERSON I, Miff.am K. Johnson, the Tax Assessor-Collector of Jefferson County, Texas, and also, by contract or statute, the Tax Assessor-Collector for CITY OF PORT ARTHUR affirm, under oath, that this amount $140,252.44 CITY OF PORT ARTHUR October, 2002. , represeuts ail taxes collected for during the lnonth of CITY OF PORT ARTHUR RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS FOR OCTOBER 2002 VOUCHERS ISSUED Date Voucher # Current Delinquent Amount Amount 10/1/02 096247 $4,243.15 10/1/02 096248 $2,855.30 10/7/02 096293 $1,930.40 10/10/02 096314 $6,455.80 10/14/02 096327 $4,331.49 10/16/02 096343 $160.51 10/16/02 096344 $6,761.53 10/21/02 096367 $1,614.38 10/21/02 096368 $5,443.56 10/23/02 096419 $2,067.09 10/23/02 096420 $4,313.15 10/24/02 096428 $6,744.52 10/24/02 096429 $2,852.36 10/25/02 096455 $19,928.06 10/25/02 096456 $2,108.46 10/29/02 096496 $13,207.30 10/29/02 096497 $1,450.75 10/30/02 096544 $30,660.97 10/30/02 096545 $4,728.59 10/31/02 096560 $11,155.45 10/31/02 096561 $2,155.47 PRIOR MONTH COLLECTIONS TO BE DISBURSED Current Disbursements $89,781.43 Delinquent Disbursement LESS TOTAL DISBURSEMENTS Current Collections $93,690.55 Delinquent Collection PLUS TOTAL COLLECTIONS SUBTOTAL ADJUSTMENTS Current Adjustments $0.00 Delinquent Adjustments $45,386.86 $46,561.89 $7,098.45 $135,168.29 $140,252.44 $12,182.60 $0.00 PLUS TOTAL DISBURSEMENT ADJUSTMENTS $0.00 TOTAL FUNDS TO BE DISBURSED $12,182.60 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR OCTOBER 2002 CURRENT COLLECTIONS FOR TAX YEAR 2002 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 $90,542.34 $3,159.45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $93,701.79 $11.24 $0.00 $0.00 $0.00 $93,690.55 Real P & I on Supplemental Refunds Personal P & I on Supplemental Refunds LESS P & I ON SUPP REFUNDS $0.00 $0.00 $0.00 NET PENALTY&INTEREST NET COLLECTED Add BackRefunds ReimbumedSepamtelybyEntity NET DOLLARS COLLECTED MISCELLANEOUS IN LIEU OFTAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED $0.00 $0.00 $0.00 $0.00 $93,690.55 $0.00 TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER ;OLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS $93,690.55 $0.00 $93,690.55 $o.oo $o,oo TOTAL CURRENT COLLECTIONS $93,690.55 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR OCTOBER 2002 DELINQUENT COLLECTIONS FOR TAX YEAR 2002 Real Raw Tax Collections $33,323.07 Pemonal Raw Tax Collections $1,904.23 TOTAL RAW TAX COLLECTIONS Reai Raw Tax Refunds $302.22 Personal Raw Tax Refunds $0.00 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 $11,193.60 Personal P & [ on Raw Tax Collections $500.62 TOTAL P & I ON COLLECTIONS Resl P & I on Raw Tax Refunds $57.41 Personsl 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 Reimbursed Separately by Entity NET DOLLARS COLLECTED $35,227,30 $302,22 $0.00 $11,694.22 $57.41 $0.00 $34,925.08 $11,636.81 $46,561.89 $o.oo MISCELLANEOUS IN LIEU OF TAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED $0.00 $0.00 $0.00 TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS TOTAL DELINQUENT COLLECTIONS TOTAL CURRENT AND DELINQUENT COLLECTIONS $46,561.89 $0.00 $46,561.89 $0.00 $0.00 $46,561.89 $140,252.44 CITY OF PORT ARTHUR CURRENT TAX RECEIVABLE UPDATE FOR OCTOBER 2002 - TAX YEAR 2002 BEGINNING RECEIVABLE Supp Levy increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $5,891,019.80 $2,332,291.37 $8,~'.23,311.17 $0.00 $0.00 $0.00 $5,891,019.80 $2,332,291.37 $8,7!23,311.17 Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Supplemental Refunds NET CURRENT COLLECTIONS $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5,891,019.80 $2,332,291.37 $8,223,311.17 $90,542,34 $3,159.45 S93,701,79 $11.24 $0.00 $11.24 $0.00 $0.00 $0.00 $90,531.10 $3,159.45 $93,690.55 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5,800,488.70 $2,329,131.92 $8,129,620.62 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF OCTOBER 2002 FOR CURRENT TAX YEAR 2002 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $5,891,019.80 $2,332,291.37 $8,223,311.17 $0.00 $0.00 $0.00 $5,891,019.80 $2,332,291.37 $8,223,311.17 Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Supplemental Refunds NET CURRENT COLLECTIONS $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5,891,019.80 $2,332,291.37 $8,223,311.17 $90,542.34 $3,159.45 $93,701.79 $11.24 $0.00 $11.24 $0.00 $0.00 $0.00 $90,531.10 $3,159,45 $93,690,55 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 $5,800,488.70 $2,329,131.92 $8,129,620.62 1.54% 0.14% 1.14% CITY OF PORT ARTHUR DELINQUENT TAX RECEIVABLE UPDATE FOR OCTOBER 2002 - TAX YEAR 2002 BEGINNING RECEIVABLE Supp Levy increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $1,782,941.48 $667,889.98 $2,450,831.46 $0.00 $0.00 $0.00 $1,782,941.48 $667,889.98 $2,450,831.46 Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Delinquent Collections Less Regular Refunds Less Supplemental Refunds NET DELINQUENT COLLECTIONS $0.00 $0.00 $0,00 $0.00 $0.00 $0,00 $1,782,941.48 $667,889.98 $2,450,831.46 $33,323.07 $1,904.23 $35,227.30 $302.22 $0.00 $302.22 $0.00 $0.00 $0.00 $33,020.85 $1,904.23 $34,925.08 Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,749,920.63 $665,985.75 $2,415,906.38 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF OCTOBER 2002 FOR DELINQUENT TAX YEARS - TAX YEAR 2002 REAL PERSONAL TOTAL BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE $1,782,941.48 $667,889.98 $2,450,831.46 $0.00 $0,00 $0.00 $1,782,941.48 $667,889.98 $2,450,831.46 Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE $0.00 $0.00 $0,00 $0.00 $0.00 $0.00 $1,782,941.48 $667,889.98 $2,450,861.46 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 $33,323.07 $1,904.23 $35,227.30 $302.22 $0.00 $302.22 $0.00 $0.00 $o.oo $33,0~0.85 $1,904.23 $34,925.08 $o.oo $0.00 $o.oo $0.o0 $0.00 $0.oo $1,749,920,63 $665,985.75 $2,415,906.38 1.85% 0.29% 1.43% ooooooooooooooooooooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooooo