HomeMy WebLinkAbout(4) FEBRUARY 05 FINANCE REPORTCITY OF PORT ARTHUR
FINANCIAL REPORT
FEBRUARY, 2005
PREPARED BY:
THE FINANCE DEPARTMENT
March 14, 2005
OSCAR G. 0RTIZ, MAYOR STEPHEN FITZGIBBONS
JOHN BEARD, JR., MAYOR PRO-TEM CITY MANAGER
COUNCrL MEMBERS; EVANGELINE "VAN" GREEN
CRAIG HANNAH C[~ of -- CITY SECRETARY
FELIX A. BARKER MARK T. SOKOLOW
THOMAS J. HENDERSON CITY ATTORNEY
MARTIN FLOOD
RONNIE H. THOMPSON
OELORIS PRINCE
MICHAEL "SHANE" SINEGAL Texas
March 21, 2005
Steve Fitzgibbons, City Manager
Mayor and Councilmembers
I am pleased to present the financial report for the month ended February 28, 2005.
RESULTS OF OPERATIONS
Sales Tax continues to perform well, at 6.3% ahead of last year, and on target to meet
budget projections of $5.65 million for the year. The f~rst of two Gas Utility franchise
payments was received in February. This payment of $167,507 was substaofi,Hy kigher than
last year. Total gas utility revenue was budgeted at $410,000. Mtmicipal Court revenue
increased in February and is 8% more than this time last year. Total water utility revenue is
slightly ahead of last year. All of the funds are performing as expected at this time.
INVESTMENT REPORT
The monthly investment report reflects that the City complied with adopted investment
policies and that the total $35.6 million portfolio, which includes EDC and bond funds,
earned interest of $71,704.83 for the month.
TAX REPORT
The tax report reflects collections from the Jefferson Tax Office of $1,493,272.48 and the
Orange Count)- Tax Office of $996,524.01.
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.
.~..~erel% ..
Rebecca Underhill, CPA
Finance Director
F~O. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/983-8115 " FAX 409/983-8291
oooo~oooo oooo~ o
~~ o ~o~oo~o~
_, o oooooo ooo o o o ~
~ ~ ~ ~oooooooooo8ooo .
~ooooooooooooooo1~ ~ ~ ~ ~ ~ ~ ~
City of Port Arthur
Taxes collected for February, 2005
Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and
interest collected through the month of February, 2005.
Collected by Jefferson County Tax Assessor-Collector $ 1,493,272.48
Collected by Orange County Tax Assessor-Collector 996,524.01
Collected by Finance Department
$ 2~489~796.49
February Less YTD Amount Percentage
2004 Collections Refunds Collections Budgeted YTD
Current $ 2,436,579.02 $ 2,870.52 $ 9,757,283.62 $ $10,390,000 93.91%
Delinquent 25,781.12 59.07 145,418.99 310,000 46.91%
P & I 30,380.11 14.17 73,589.92 240,000 30.66%
Other 20,000
Total $ 2,492,740.25 $ 2,943.76 $ 9,976,292.53 $ 10,960,000 91.02%
This report shows that $9,976,292.53 or 91.02 % of the amount budgeted from property tax sources has been
collected through Feburary, 2005.
Five Year Collection History -- Property Taxes
Tax February Less YTD Amount Percentage
Year Collections Refund Collections Budgeted YTD
2004 $ 2,492,740.25 $ 2,943.76 $ 9,976,292.53 $ 10,960,000 91.02%
2003 1,480,810.38 144.33 7,844,049.34 9,459,639 82.92%
2002 1,426,918.40 580.17 8,393,638.92 9,459,639 88.73%
2001 1,363,115.80 5,589.53 8,176,216.52 9,122,450 89.63%
2000 1,652,285.63 2,861.41 7,094,268.74 8,929,780 79.45%
Five Year Collection History -- Industrial District Payments
February Less YTD Amount Percentage
Industrial Collections Refund Collections Budgeted YTD
2004 $ - $ - $ 11,652,684.00 $ 14,179,684 82.18%
2003 11,050,800.00 13,325,800 82.93%
2002 11,050,800.00 13,318,973 82.97%
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
STATE OF TEXAS
COUNTY OF JEFFERSON
1, Miriam K. Johnson, the Tax Assessor-Collector of Jefferson County, Texas, and also, by contract or statute,
the Tax Assessor-Collector for C I~T Y_ _O_ _F PORT ARTHUR_ . .
affirm, under oath, that this amount $1,493,272.48 , represents all taxes collected for
CITY OF PORT ARTHUR during the month of
FebruarY, 2005.
Miriam K. Johnson
CITY OF PORT ARTHUR
RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS
FOR FEBRUARY 2005
VOUCHERS ISSUED
Date Voucher # Current Delinquent
Amount Amount
2/1/05 108100 $889,655.82
2/1105 108101 $16,930.05
2/2/05 108164 $659,212.10
2/2/05 108165 $5,340.90
2/3/05 108199 $269,653.62
2/3/05 108200 $2,369.33
2/4/05 108236 $223,163.03
2/4/05 108237 $2,265.34
2/7/05 108260 $11,011.03
2/7/05 108261 $2,479.63
2/8/05 108287 $13,033.20
2/8/05 108288 $1,062.42
2/9/05 108300 $10,226.63
2/9/05 108301 $421.69
2/10/05 108321 $17,366.17
2/10/05 108322 $824.47
2/14/05 108350 $97,424.91
2/14/05 108351 $1,363.83
2/15/05 108381 $10,052.39
2/15/05 108382 $1,829.99
?_/16/05 108394 $7,209.12
2/16/05 108395 $595.37
2/17/05 108412 $7,072.50
2/17/05 108413 $1,778.15
2/18/05 108423 $4,869.16
2/18/05 108424 $1,709.57
2/22/05 108443 $13,242.97
2/22/05 108444 $1,238.42
2/23/05 108470 $11,524.27
2/23/05 108471 $2,506.18
2/25/05 108507 $27,088.04
2/25/05 108508 $5,509.09
2/28/05 108526 $15,813.55
2/28/05 108527 $1,866.01
PRIOR MONTH COLLECTIONS TO BE DISBURSED $906,585.87
Current Disbursements $2,287,618.51
Delinquent Oisbursement $50,090.44
LESS TOTAL DISBURSEMENTS $2,337,708.95
Current Collection $1,457,578.90
Delinquent Collection $35,693.58
PLUS TOTAL COLLECTIONS $1,493,272.48
SUBTOTAL $62,149.40
ADJUS~ENTS
Current Adjustments $0.00
Delinquent Adjustments $0.00
PLUS TOTAL DISBURSEMENT ADJUSTMENTS $0.00
TOTAL FUNDS TO BE DISBURSED $62,149.40
CITY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR FEBRUARY 2005
CURRENT COLLECTIONS FOR TAX YEAR 2004
Real Raw Tax Collections $945,316.91
Personal Raw Tax Collections $494,738.10
TOTAL RAW TAX COLLECTIONS $1,440,055.01
Real Raw Tax Refunds $2.870.52
Personal Raw Tax Refunds $0.00
LESS TOTAL RAW TAX REFUNDS $2,870.52
Real Supplemental Refunds $0.00
Personal Supplemental Refunds $0.00
LESS TOTAL SUPP REFUNDS $0~00
NET RAW TAX COLLECTIONS $1,437,184.49
Real P & I on Raw Tax Collections $12,560.99
Personal P & I on Raw Tax Collections $7,833.42
TOTAL P & I ON COLLECTIONS $20,394.41
Real P & I on Raw Tax Refunds $0.00
Personal P & I on Raw Tax Refunds $0.00
LESS P & I ON RAW TAX REFUNDS $0.00
Real P & I on Supplemental Refunds $0.00
Personal P & I on Supplemental Refunds $0.00
LESS P & I ON SUPP REFUNDS $0.00
NET PENALTY & INTEREST $20,394.41
NET COLLECTED $1,457,578.90
Add Back Refunds Reimbursed Separately by Entity $0.00
NET DOLLARS COLLECTED $1,457,578.90
MISCELLANEOUS $0.00
IN LIEU OF TAX COLLECTIONS $0.00
OTHER TAX REVENUE $0.00
TOTAL OTHER TAX COLLECTED $0.00
TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER COLLECTIONS $1,457,578.90
LESS TrF COLLECTIONS $0.00
MANUAL ADJUSTMENTS $0.00
TOTAL CURRENT COLLECTIONS ~i1457,578.90
CITY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR FEBRUARY 200S
DELINQUENT COLLECTIONS FOR TAX YEAR 2004
Real Raw Tax Collections $23,601.97
Personal Raw Tax Collections $2,179.15
TOTAL RAW TAX COLLECTIONS $25,781.12
Real Raw Tax Refunds $0.00
Personal Raw Tax Refunds .~59'07
LESS TOTAL RAW TAX REFUNDS $59.07
Real Supplemental Refunds $0.00
Personal Supplemental Refunds $0.00
LESS TOTAL SUPP REFUNDS $0.00
NET RAW TAX COLLECTIONS $25,722.05
Real P & I on Raw Tax Collections $9,531.02
Personal P & I on Raw Tax Collections $454.68
TOTAL P & I ON COLLECTIONS $9,985.70
Real P & ~ on Raw Tax Refunds $0.00
Personal P & I on Raw Tax Refunds $14.17
LESS P & I ON RAW TAX REFUNDS $14.17
Real P & I on Supplemental Refunds $0.00
Personal P & I on Supplemental Refunds $0.00
LESS P & I ON SUPP REFUNDS $0.00
NET PENALTY & INTEREST $9,971.53
NET COLLECTED $35,693.58
Add Back Refunds Reimbursed Separately by Entity $0.00
NET DOLLARS COLLECTED $35,693.58
MISCELLANEOUS $0.00
IN LIEU OF TAX COLLECTIONS $0.00
OTHER TAX REVENUE $0.00
TOTAL OTHER TAX COLLECTED $0.00
TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS $35,693.58
LESS TIF COLLECTIONS $0.00
MANUAL ADJUSTMENTS $0.00
TOTAL DELINQUENT COLLECTIONS $35,693.58
TOTAL CURRENT AND DELINQUENT COLLECTIONS $1,493,272.48
CITY OF PORT ARTHUR
CURRENT TAX RECEIVABLE UPDATE
FOR FEBRUARY 2005 - TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $1,948,076.53 $613,705.76 $2,561,782.29
Supp Levy Increase(Decrease) $0.00 $0.00 $0.00
REVISED TAX RECEIVABLE $1,948,076.53 $613,705.76 $2,561,782.29
Levy (Lost)Gain $0.00 $0.00 $0.00
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $1,948,076.53 $613,705.76 $2,561,782.29
Current Collections $945,316.91 $494,738.10 $1,440,055.01
Less Regular Refunds $2,870.52 $0.00 $2,870.52
Less Supplemental Refunds $0.00 $0.00 $0.00
NET CURRENT COLLECTIONS $942,446.39 $494,738.10 $1,437,184.49
Plus Overpayments $0.00 $0,00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING CURRENT TAX RECEIVABLE $1,005,63014 $118,967.66 $1,124,597,80
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF FEBRUARY 2005
FOR CURRENT TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $7,422,954.26 $2,580,435.38 $10,003,389.64
Supp Levy Increase(Decrease) ($26,622.85) ($91,209.38) ($118,032.23)
REVISED TAX RECEIVABLE $7,396,131.41 $2,489,226.00 $9,885,357.41
Levy (Lost)Gain $0.00 $0.00 $0.00
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $7,396,131.41 $2,489,226.00 $9,885,357.41
Current Collections $6,396,944.54 $2,370,309.38 $8,767,253.92
Less Regular Refunds $3,559.65 $0.00 $3,559.65
Less Supplemental Refunds $2,883.62 $51.04 $2,934.66
NET CURRENT COLLECTIONS $6,390,501.27 $2,370,258.34 $8,760,759.61
Plus Overpayments $0.00 $0.00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING CURRENT TAX RECEIVABLE $1,005,630.14 $118,967.66 $1,124,597.80
PERCENTAGE OF RECEIVABLE TO DATE 86.40% 95.22% 88.62%
CITY OF PORT ARTHUR
DELINQUENT TAX RECEIVABLE UPDATE
FOR FEBRUARY 2005 - TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $1,691,640.44 $665,336.58 $2,356,977.02
Supp Levy Increase(Decrease) $0.00 $0.00 $0.00
REVISED TAX RECEIVABLE $1,691,640.44 $665,336.58 $2,356,977.02
Levy (Lost)Gain $0.00 $0.00 $0.00
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $1,691,640.44 $665,336.58 $2,356,977.02
Deli nq uent Collections $23,601.97 $2,179.15 $25,781.12
Less Regular Refunds $0.00 $59.07 $59.07
Less Supplemental Refunds $0.00 $0.00 $0.00
NET DELINQUENT COLLECTIONS $23,601.97 $2,120.08 $25,722.05
Plus Overpayments $0.00 $0.00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING DELINQUENT TAX RECEIVABLE $1,668,038.47 $663,216.50 $2,331,254.97
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF FEBRUARY 2005
FOR DELINQUENT TAX YEARS - TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $1,827,555.44 $682,612.61 $2,510,168.05
Supp Levy Increase(Decrease) ($33,516.15 ($63.74) ($33,579.89)
REVISED TAX RECEIVABLE $1,794,039.29 $682,548.87 $2,476,588.16
Levy (Lost)Gain $85.80 $6.00 $85.80
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $1,794,125.09 $682,548.87 $2,476,673.96
Delinquent Collection s $141,781.79 $19,420.05 $161,201.84
Less Regular Refunds $368.15 $79.37 $447.52
Less Supplemen{al Refunds $15,327.02 $8.31 $15,335.33
NET DELINQUENT COLLECTIONS $126,086.62 $19,332.37 $145,418.99
Plus Overpayments $6.00 $6.00 $6.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING DELINQUENT TAX RECEIVABLE $1,668,038.47 $663,216.50 $2,331,254.97
PERCENTAGE OF RECEIVABLE TO DATE 7.03% 2.83% 5.87%