HomeMy WebLinkAbout(01) FINANCIAL REPORTCITY OF PORT ARTHUR
FINANCIAL REPORT
APRIL, 2005
PREPARED BY:
THE FINANCE DEPARTMENT
May 17, 2005
STEPHEN FITZGIBBONS
OSCAR G. ORTIZ, MAYOR C1~¥ MANAGEP~
JOHN BEARD, JR., MAYOR PRO-TEM
EVANGELINE "VAN" GREEN
COUNCIL MEMBERS: CITY SECRETARY
CRAIG HANNAH Cio' of
FELIX A. BARKER MARK T. SOKOLOW
THOMAS J. HENDERSON CITY ATi-ORNEY
MARTIN FLOOD
RONNIE H. THOMPSON
DELORIS PRINCE
MICHAEL "SHANE" SINEGAL Texax
May 19, 2005
Steve Fitzgibbons, City Manager
Mayor and Councilmernbers
I am pleased to present the financial report for the month ended April 30, 2005. This report
reflects the results of City operations for seven months of the fiscal year.
RESULTS OF OPEIL, kTIONS
Sales Tax continues to perform well, at 6.8% aliead of last year, and on target to meet
budget projections of $5.65 million for the year. Municipal Court revenue continues to run
ahead of last year and is $56,000 more than this time last year. Water Utility revenue is
slightly ahead of last year. Health Insurance costs are $400,000 ahead of last year. We
continue to monitor this cost weekly. At this rate, we may not make budget. All of the
other funds are performing as expected at this ~ne.
INVESTMENT REPORT
The monthly investment report reflects that the City complied with adopted investment
policies and that the total $36.12 million portfolio, which includes EDC and bond funds,
earned interest of $86,664.60 for the month.
TAX REPORT
The tax report reflects collections from the Jefferson Tax Office of $120,948.6I.
DISBURSEMENT REGISTER
The disb~sernent 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.
Sincerely, ~
Rebecca Underhill, CPA
Finance Director
P.O. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 ° 409/983-8115 ° FAX 409/983-8291
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City of Port Arthur
Taxes collected for April, 2005
Pursuant to Section 31. I0 of Texas Property Tax Code, the attached report of taxes, penalty and
interest collected through the month of April, 2005.
Collected by Jefferson County Tax Assessor-Collector $ 120,948.61
Collected by Orange County Tax Assessor-Collector
Collected by Finance Department
$ 120,948.61
April Less YTD Amount Percentage
2004 Collections Refunds Collections Budgeted YTD
Current $ 70,323.93 $ 252.01 $ 9,950,540.55 $ $10,390,000 95.77%
Delinquent 23,397.87 153.76 187,940.39 310,000 60.63%
P & I 27,693.57 60.99 131,875.19 240,000 54.95%
Other 20,000
Total $ 121,415.37 $ 466.76 $ 10,270,356.13 $ 10,960,000 93.71%
This report shows that $10,270,356.13 or 93.71% of the amount budgeted from property tax sources has been
collected through April, 2005.
Five Year Collection Itistorv -- Property Taxes
Tax April Less YTD Amount Percentage
Year Collections Refund Collections Budgeted YTD
2004 $ 121,415.37 $ 466.76 $ 10,270,356.13 $ 10,960,000 93.71%
2003 205,249.69 2,487.90 9,242,252.89 9,710,000 95.18%
2002 144,087.84 420.03 8,707,638.49 9,459,639 92.05%
2001 151,969.89 1,403.35 8,493,757.26 9,122,450 93.11%
2000 190,023.47 7,196.21 8,447,536.36 8,929,780 94.60%
Five Year Collection History -- Industrial District Payments
April 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 13,3 ! 8,973 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
I, Miriam K. Johnson, the Tax Assessor-Collector of Jefferson Count', Texas, and also, by contract or statute,
the Tax Assessor-Collector for ................ CIT~Y~OF PORT ARTH~UR ..... ,
affirm, under oath, that this amount $120,948.61 represents all taxes collected for
CITY OF PORT ARTHUR during the month of
April,~2005. _
CITY OF PORT ARTHUR
RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS
FOR APRIL 2005
VOUCHERS ISSUED
Date Voucher it Current Delinquent
Amount Amount
4/1/05 108941 $18,152.89
4/1/05 108942 $1,971.50
4/4/05 108977 $4,400.02
4/4/05 108978 $934.81
4/5/05 109007 $11,176.20
4/5105 109008 $635.18
4/6/05 109028 $3,281.44
4/6/05 109029 $3,859.40
4/8/05 109044 $4,732.20
4/8/05 109045 $593.36
4/11/05 109059 $2,595.95
4/11/05 109060 $593.23
4/13/05 109078 $9,352.25
4/13/05 109079 $4,205.34
4/14/05 109091 $1,783.50
4/14/05 109092 $6,801.88
4/15/05 109113 $2,546.20
4/15/05 109114 $14,410.01
4/18/05 109124 $632.94
4/18/05 109125 $1,469.35
4/20/05 109150 $4,641.68
4/20/05 109151 $1,835.16
4/25/05 109171 $2,568.96
4/25/05 109172 $1,500.16
4/26/05 109203 $6.832.53
4/26/05 109204 $846.23
4/28/05 109227 $5,622.02
4/28/05 109228 $1,877.09
4/29/05 109238 $6,290.75
4/29/05 109239 $479,84
PRIOR MONTH COLLECTIONS TO BE DISBURSED $20,124.39
Current Disbursements $84,609.53
Delinquent Disbursement $42.012.54
LESS TOTAL DISBURSEMENTS $126,622.07
Current Collection $77,496.72
Delinquent Collection $43,451.89
PLUS TOTAL COLLECTIONS $120,948.61
SUBTOTAL $14,450.93
ADJUSTMENTS
Current Adjustments $0.00
Delinquent Adjustments $0.00
PLUS TOTAL DISBURSEMENT ADJUSTMENTS $0.00
TOTAL FUNDS TO BE DISBURSED $14,450.93
CITY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR APRIL 2005
CURRENT COLLECTIONS FOR TAX YEAR 2004
Real Raw Tax Collections $66,473.75
Personal Raw Tax Collections $3,850.18
TOTAL RAW TAX COLLECTIONS $70,323.93
Real Raw Tax Refunds $113,51
Personal Raw Tax Refunds $138.50
LESS TOTAL RAW TAX REFUNDS $252.01
Real Supplemental Refunds $0.00
Personal Supplemental Refunds $0.00
LESS TOTAL SUPP REFUNDS $0.00
NET RAW TAX COLLECTIONS $70,071.92
Real P & I on Raw Tax Collections $7,052.09
Personal P & I on Raw Tax Collections $395.26
TOTAL P & I ON COLLECTIONS $7,447.35
Real P & I on Raw Tax Refunds $10.08
Personal P & I on Raw Tax Refunds $12.47
LESS P & I ON RAW TAX REFUNDS $22,55
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 $7,424.80
NET COLLECTED $77,496.72
Add Back Refunds Reimbursed Separately by Entit7 $0.00
NET DOLLARS COLLECTED $77,496.72
MISCELLANEOUS $0.00
IN LIEU OF TAX COLLECTIONS $0.00
OTHER TAX REVENUE $0.00
TOTAL OTHER TAX COLLECTED $0.(30
TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER COLLECTIONS $77,496.72
LESS TIF COLLECTIONS $0.00
MANUAL ADJUSTMENTS $0.00
TOTAL CURRENT COLLECTIONS $77,496,72
CiTY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR APRIL 2005
DELINQUENT COLLECTIONS FOR TAX YEAR 2004
Real Raw Tax Collections $20,083.38
Personal Raw Tax Collections $3,314.49
TOTAL RAW TAX COLLECTIONS $23,397.87
Real Raw Tax Refunds $153.76
Personal Raw Tax Refunds $0.00
LESS TOTAL RAW TAX REFUNDS $153.76
Real Supplemental Refunds $0.00
Personal Supplemental Refunds $0.00
LESS TOTAL SUPP REFUNDS $0.00
NET RAW TAX COLLECTIONS $23,244.11
Real P & I on Raw Tax Collections $15,608.32
Persc~al P & I on Raw Tax Collections $4.637.90
TOTAL P & I ON COLLECTIONS $20.246.22
Real P & I on Raw Tax Refunds $38.44
Personal P & I on Raw Tax Refunds $0.00
LESS P & I ON RAW TAX REFUNDS $38.44
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 $20,207.78
NET COLLECTED $43,451.89
Add Back Refunds Reimbursed Separately by Enti[y $0.00
NET DOLLARS COLLECTED $43,451.89
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 $43,451.89
LESS TIF COLLECTIONS $0.00
MANUAL ADJUSTMENTS $0.00
TOTAL DELINQUENT COLLECTIONS $43,451.89
TOTAL CURRENT AND DELINQUENT COLLECTIONS $120,948.61
CITY OF PORT ARTHUR
CURRENT TAX RECEIVABLE UPDATE
FOR APRIL 2005 - TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $869,518.97 $87,340.62 $956,859.59
Supp Levy Increase(Decrease) $0.00 $0.00 $0.00
REVISED TAX RECEIVABLE $869,518.97 $87,340.62 $956,859.59
Levy (Lost)Gain $0.00 $0.00 $0.00
Levy Legally Uncollectable $0.00 $6.00 $0.00
ADJUSTED TAX RECEIVABLE $869,518.97 $87,340.62 $956,859.59
Current Collections $66,473.75 $3,850.18 $70.323.93
Less Regular Refunds $113.51 $138.50 $252.01
Less Supplemental Refunds $0.00 $0.00 $0.00
NET CURRENT COLLECTIONS $66,360.24 $3,711.68 $70,071.92
Plus Overpaymenls $0.00 $0.00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING CURRENT TAX RECEIVABLE $803,158.73 $83,628.94 $88~.787.67
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF APRIL 2005
FOR CURRENT TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECErVABLE $7,422,954.26 $2,580,435.38 $10,003,389.64
Supp Levy Increase(Decrease) ($54,273.31) ($108,312.12) ($162,585.43)
REVISED TAX RECEIVABLE $7,368,680.95 $2,472,123.26 $9~840,804.21
Levy (Lost)Gain $0.00 $0.00 $0.00
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $7,368,680.95 $2,472,123.26 $9,840,804.21
Current Collections $6,591,491.87 $2,388,725.82 $8,980,217.69
Less Regular Refu r~ds $3,673.16 $138.50 $3,811.66
Less Supplemental Refunds $22,296.49 $93.00 $22,389.49
NET CURRENT COLLECTIONS $6,565,522.22 $2,388,494.32 $8,954,016.54
Plus Overpayments $0.00 $0.00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING CURRENT TAX RECEIVABLE $803,158.73 $83,628.94 $886,787.67
PERCENTAGE OF RECEIVABLE TO DATE 89.10% 96.62% 90.99%
CITY OF PORT ARTHUR
DELINQUENT TAX RECEIVABLE UPDATE
FOR APRIL 2005 - TAX YEAR 2004
REAL PERSONAL TOTAL
BEGINNING RECEIVABLE $1,641,198.98 $654,169.59 $2,295,368.57
Supp Levy In.ease(Decrease) $0.00 $O.00 $0.00
REVISED TAX RECEIVABLE $1,641,198.98 $654,169,59 $2,295,368.57
Levy (Lost)Gain ($92.38) $0.00 ($92.38)
Levy Legally Uncollectable $0.00 $0.O0 $0.00
ADJUSTED TAX RECEIVABLE $1,641,106.60 $654,169.59 $2,295,276.19
Delinquent Collections $20,083.38 $3,314.49 $23,397.87
Less Regular Refunds $153.76 $0.00 $153.76
Less Supplemental Refunds $0.O0 $0.00 $0.00
NET DELINQUENT COLLECTIONS $19,929.62 $3,314.49 $23,244,11
Plus Overpayments $0.00 $0.00 $0.00
Less Double Pay-Refunds $0.00 $0.00 $0.00
ENDING DELINQUENT TAX RECEIVABLE $1,621,176.98 $650,855.10 $2,272,032.08
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF APRIL 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) ($43,309.12) ($6,879,88) ($50,189.O0)
REVISED TAX RECEIVABLE $1,784,246,32 $675,732.73 $2,459,979.05
Levy (Lost)Gain ($6.58) $0.OO ($6,58)
Levy Legally Uncollectable $0.00 $0.00 $0.00
ADJUSTED TAX RECEIVABLE $1,784,239.74 $675,732.73 $2,459,972.47
Delinquent Collections $187,747.76 $24,965.31 $212,713.07
Less Regular Refunds $702.16 $79.37 $781.53
Less Supplemental Refunds $23,982.84 $8.31 $23,991.15
NET DELINQUENT COLLECTIONS $163,062.76 $24,877.63 $187,940.39
Plus Overpayments $0.00 $0.00 $0.00
Less Oouble Pay-Refunds $0.00 $0.00 $0.00
ENDING DELINQUENT TAX RECEIVABLE $1,621,176.98 $650,855.10 $2,272,032.08
PERCENTAGE OF RECEIVABLE TO DATE 9.14% 3.68% 7.64%