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Home My WebLink About2.DECEMBER FINANCIAL REPORTCITY OF PORT ARTHUR FINANCIAL REPORT DECEMBER, 2004 PREPARED BY: THE FINANCE DEPARTMENT February 8, 2005 OSCAR G. ORTIZ, MAYOR JOHN BEARD, JRr MAYOR PROoTEM COUNCIL MEMBERS: CRAIG HANNAH FELIX A BARKER THOMAS J. HENDERSON MARTIN FLOOD RONNIE H. THOMPSON DELORIS PRINCE MICHAEL "SHANE" SINEGAL City of STEPHEN FITZGIBBONS CITY MANAGER EVANGELINE "VAN" GREEN CITY SECRETARY MARK T. SOKOLOW CITY ATTORNEY Februa~ 9, 2005 Steve Fkzgibbons, City, Manager Mavor and Councilmembers I am pleased to present the financial report for the month ended December 31, 2004. This report includes final audited beginning balances for ail funds. RESULTS OF OPERA'lIONS Most of the Industrial Revenue, $11.47 million, has been received. The remaining payments will be received in September 2005. Property Tax revenue will increase m the months of December and January. All of the funds are performing as expected for the first month of the year. INVESTMENT REPORT The monthly investment report reflects that the Cid' complied with adopted investment policies and that the total $34.3 million portfolio, wbAch includes EDC and bond funds. earned interest of $64,909.33 for the month. TAX REPORT The tax report reflects collections from the Jefferson Tax Office of $1,863,715.80. DISBURSEMENT REGISTER The disbursement regtsrer ~s presented to Council as is required. I appreciate the oppormmry to present this information to you and look fom, ard to your comments and questions. .~rely, Rebecca Underhill. CPA Finance Director P.O BOX 1089 · PORT ARTHUR TEXAS 77641-1089 * 409/983-8115 · FAX 409 983-8291 ii. ~o o88oo8888ooo88 .... °°°°8°°°8° '''ddoddof o oo oooooo City of Port Arthur Taxes collected for December, 2004 Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and interest collected through the month of December, 2004. Collected by Jefferson County Tax Assessor-Collector Collected by Orange County Tax Assessor-Collector Collected by Finance Department $ 1,863,715.80 $ 11863~715.80 December Less YTD Amount Percentage 2004 Collections Refunds Collections Budgeted YTD Current $ 1,834,069.34 $ 3,567.15 $ 2,436,552.47 $ $10,390,000 23.45% Delinquent 29,143.30 5,674.78 77,451.65 310,000 24.98% P & I 9,954.06 208.97 29,020.93 240,000 12.09% Other 20,000 Total $ 1,873,166.70 $ 9,450.90 $ 2,543,025.05 $ 10,960,000 23.20% This report shows that $ 2,543.025.05 or 23.20 % o£the amount budgeted from property tax sources has been collected through December, 2004. Five Year Collection History -- Property Taxes Tax December Less YTD Amount Percentage Year Collections Refund Collections Budgeted YTD 2004 $ 1,873,166.70 $ 9,450.90 $ 2,543,025.05 $ 10,960,000 23.20% 2003 1,553,822.02 6,204.74 2,256,667.85 9,710,000 23.24% 2002 1,515,023.24 24,652.34 2,080,032.29 9,459,639 21.99% 2001 1,372,114.72 18,023.26 2,002,972.54 9,122,450 21.96% 2000 1,282,065.58 5,904.00 1,988,700.48 8,929,780 22.27% Five Year Collection History - Industrial District Payments December Less YTD Amount Percentage Industrial Collections Refi~nd Collections Budgeted YTD 2004 $ - $ - $ 11,652,684.00 $ 14,179,684 82.18% 2003 183,500.00 11,050,800.00 13,325,800 82.93% 2002 10,842,300.00 13,318,973 81.40% 2001 13,530,800.00 13,330,295 101.50% 2000 12,161,705.40 12,501,404 97.28% MIRIAM K. JOHNSON TAX ASSESSOR-COLLECTOR JEFFERSON COUNTY COURTHOUSE P. O. BOX 2112 BEAUMONT. TEXAS 77704 409-835-8516 FAX 409-$35-8589 STATE OF TEXAS COUNTY OF JEFFERSON I, Miriam K. Johnson, the Tax Assessor~Collector of Sefferson County, Texas, and also, by contract or statute, the Tax Assessor-Collector for CITY OF PORT ARTHUR affirm, under oath, that this amount $1,863,715.80 , represents all taxes collected for CITY OF PORT ARTHUR during the month of December. 2004. Miria~m K. Johnson CITY OF PORT ARTHUR RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS FOR DECEMBER 2004 VOUCHERS ISSUED Date Voucher # Current Delinquent Amount Amount 12/1/04 107085 $22 545.83 12/1/04 107088 $4.49628 1212/04 107140 $182 107.26 12/2/04 107141 $1.173.21 12/3/04 107164 $42 397.79 12/3/04 107165 $2.386.92 12/6/04 107184 $14.436.12 12/6/04 107185 $1.240.37 12/7/04 107229 $226 988.37 12/7/O4 107230 $1 885.73 12/8/04 107255 $65 127.62 12/8/04 107256 $1 241.79 12/10/04 107281 $31.790.60 12/10104 107282 $5.785.07 12/13/04 107298 $21.561.98 12/13/04 107299 $289.77 12/22]04 107361 $765404.32 12/27t04 107388 $58.888.13 12/27/04 107389 $2,554.88 12/28/04 107434 $89.916.64 12/28/04 107435 $1,269.04 12/29/04 107467 $97.577.86 12/29/04 107468 $1.008.57 12/30/04 107495 $68.038.86 12/30/04 107496 $6.618.39 PRIOR MONTH COLLECTIONS TO BE DISBURSED Current Disbursements Delinauent Disbursement LESS TOTAL DISBURSEMENTS Current Collection Delin(]uent Collection PLUS TOTAL COLLECTIONS SUBTOTAL $1.686.781.38 $1.830.502.19 $29.950.02 $33.213.61 $27.042.11 $1,716,731.40 $1,863.715.80 $174.626.51 ADJUSTMENTS Current Ad.ustments Delinouer~t Adjustments PLUS TOTAL DISBURSEMENT ADJUSTMENTS TOTAL FUNDS TO BE DISBURSED $0.00 $0.00 $0.00 $174.D26.51 Real Raw Tax Collections Persona Raw Tax Collections TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds Persona Raw Tax Refunds LESS TOTAL RAW TAX REFUNDS Real Supplemental Refunds Personal SuoDlemema~ Refunds LESS TOTAL SUPP REFUNDS ~IET RAW TAX COLLECTIONS F~eal P & I on Raw Tax Collections Personal P & on Raw Tax Collections TOTAL P & I ON COLLECTIONS ~teal P & I on Raw Tax Refunds 3ersonal P & I on Raw Tax Refunds LESS P & I ON RAW TAX REFUNDS CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR DECEMBER 2004 CURRENT COLLECTIONS FOR TAX YEAR 2004 $1.565,134 47 $268 934.87 $632.49 $0.00 $2.883.62 $51.04 $1 834,069.34 $632.49 $2.934.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 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 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 $0.00 $0.00 $0.00 TOTAL CURRENT COLLECTIONS $1.830.502.19 $0.00 $1.830 502.19 $0.00 $1.830.502.19 $0.00 $1,830.502.19 $0.00 $0.00 $1.830,502.19 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR DECEMBER 2004 DELINQUENT COLLECTIONS FOR TAX YEAR 2004 Real Raw Tax Collections $28.480.49 Personal Raw Tax Collections $662.81 TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds $200.63 Personal Raw Tax Refunds $0.00 LESS TOTAL RAW TAX REFUNDS Real Supl~lemental Refunds $5.474 15 Personal SuDDlementa Refunds $0.00 LESS TOTAL SUPP REFUNDS NET RAW TAX COLLECTIONS Real P & I on Raw Tax Collections $9.709.19 Personal P & I on Raw Tax Collections $244.87 TOTAL P & I ON COLLECTIONS Real P & I on Raw Tax Refunds $45.60 Personal P & I on Raw Tax Refunds $000 LESS P & I ON RAW TAX REFUNDS Real P & I on SuDalemental Refunds $163.37 Personal P & I on Supplemental Refunds $0.00 LESS P &l ON SUPP REFUNDS NET PENALTY & INTEREST NET COLLECTED Add Back Refunds Reimbursed Separately by Entity NET DOLLARS COLLECTED $29,143.30 $200.63 $5.474.15 $9.954.06 $45.60 $163.37 $23.468.52 $9.745.09 $33.213.6! $0.00 $33.213.61 MISCELLANEOUS $0.00 IN LEU OF TAX COLLECTIONS $0.00 OTHER TAX REVENUE $0.00 TOTAL OTHER TAX COLLECTED $0.00 TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS $33 213.61 LESS TIF COLLECTIONS $0.00 MANUAL ADJUSTMENTS $0.00 TOTAL DELINQUENT COLLECTIONS $33 213.61 TOTAL CURRENT AND DELINQUENT COLLECTIONS $1.863 715,80 CITY OF PORT ARTHUR CURRENT TAX RECEIVABLE UPDATE FOR DECEMBER 2004 - TAX YEAR 2004 BEGINNING RECEIVABLE SUDD Levy Increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $6.922.301.05 $2.475.038.34 $9.397.339.36 1528~822 85) ~$91.20938) ~$118.032.23 $6.895 478.20 $2.383.828,93 $9.279.307.13 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 $6.895 478.20 $2 383.828.93 $9.279.307.13 $1.565 134.47 $268 934.87 $1.834.069.34 $632.49 $0.00 $632.49 $2 883.62 $51.04 $2.934.66 $1,561.618.36 $268.883.83 $1.830.502.19 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE $0,00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.333.859.84 $2.114945.t0 $7.448.804.94 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF DECEMBER 2004 FOR CURRENT TAX YEAR 2004 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $7.422.954.26 $2.580.435.38 $10003 389.64 $26 822.85) {$91.209.381 $118.032.23) $7.396 131.41 $2.489 226.00 $9885 357.41 Levy [LOst)Gait Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Suoolemental Refunds NET CURRENT COLLECTIONS $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.396 131.41 $2.489.226.00 $9.885 357.41 $2.065,807.27 $374 331.94 $2.440.139,21 $652.08 $0.00 $652.08 $2.883.62 $51.04 $2 934.66 $2 062.271.57 $374 28090 $2.436 552.47 Plus Overpaymen[a .ess Double Pay-Refunds -=NDING CURRENT TAX RECEIVABLE PERCENTAGE OF RECEIVABLE TO DATE $0.00 $000 $0.00 $0.00 $0.00 $0.00 $5 333.859.84 $2,114.945.10 $7.448 804.94 27.88% 15~04% 24.65% CITY OF PORT ARTHUR DELINQUENT TAX RECEIVABLE UPDATE FOR DECEMBER 2004 - TAX YEAR 2004 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECE VABLE Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Delinouent Collections Less Regular Refunds Less SuDDlemen[al Refunds NET DELINQUENT COLLECTIONS REAL PERSONAL TOTAL $1 750,482.21 $677 413.93 $2.427 896.14 ~$5,280.88~ ;$10.23~ $5291.11~ $1 745201.33 $677 403.70 $2,422,605.03 $85.80 $0.00 $85.80 $0.00 $0.00 $0.00 $1 745.287.13 $677.403.70 $2,422 690.83 $28.480.49 $662.81 $29 143.30 $200.63 $g.00 $200.63 $5.474.15 $0.00 $5.474.15 $22.805,71 $662.81 $23 468.52 Plus Overpayments Less Double pa,r-Refunds ENDING DELINQUENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.722.481.42 $676,740.89 $2,399 222.31 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF DECEMBER 2004 FOR DELINQUENT TAX YEARS - TAX YEAR 2004 REAL PERSONAL TOTAL BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE Levy (Lost)Gain Levy Legally Uncollectable ADJUSTED TAX RECEIVABLE Delinouent Collections Less Regular Refunds Less Suoolemental Refunds NET DELINQUENT COLLECTIONS Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE PERCENTAGE OF RECEIVABLE TO DATE $1.827.555.44 $682.612.61 $2.510.168.05 ($33,516.15) ($63.74) ~$33.579.89) $1,794039.29 $682 548.87 $2.476.588.16 $85.80 $0.00 $85.80 $0.00 $0.00 $0.00 $1.794 125.09 $682 548.87 $2.476,673.96 $87 256.05 $5 836.59 $93.092.64 $285.36 $20.30 $305.66 $15 327.02 $8.31 $15.335.33 $71643.67 $5 807.98 $77.451.65 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.722.481,42 $678.740.89 $2,399,222.31 3.99% 0.85% 3.13% ooooooooooooooooooooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooooo oo0ooooo ..... oooooooooooooooogggg~ooooo ..... o ~5d~5 0 ooooooooooooooooooooooooooooooooooooooooooooooooooo