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HomeMy WebLinkAbout(2) JANUARY FINANCIAL REPORTCITY OF PORT ARTHUR FINANCIAL REPORT JANUARY, 2002 PREPARED BY: THE FINANCE DEPARTMENT FEBRUARY 26, 2002 OSCAR G. ORTIZ, MAYOR FELIX A. BARKER, MAYOR PRO-TEM COUNCIL MEMBERS: CRAIG HANNAH City of THOMAS J. HENDERSON TOM GILLAM, III REV. RONNIE LINDEN BOB BOWERS ROSE MITCHELL CHAISSON ROBERT E. AkkENFebruary 25, 2002 Steve Fitzgibbons, City Manager Mayor and Councilmembers Texas STEPHEN FITZGIBBONS CITY MANAGER CAROLYN DIXON CITY SECRETARY MARK T. SOKOLOW CITY A]7ORNEY I am pleased to present the financial report for dxe month ended January 31, 2002. This report covers the ,first four months of the 2002 fiscal year. RESULTS OF OPERATIONS All of the fiscal 2002 industrial revenue has noxv been collected. The industrial revenue is over budget $243,677. This is due to the agreement with Equistar that was reaclied after the budget had been adopted. Under the agreement, Equistar made a final payment of $340,000. The budget had been based upon the previous contract, with anticipated payment of $96,000. Sales tax remains below the same period last year. (January Sales Tax revenue is based on November sales.) With the Super Wal-Mart opening in Februat3; we look forxvard to Sales Tax revenue increases to begin with the April collection (for the last xveek and 1/2 of February) and in full xvith the May receipt. The rate increases for Water, Sewer, and Solid Waste collection were implemented effective October 1. The revenue in these funds reflects the increases. INVESTMENT REPORT The monthly investment report reflects that the City complied with adopted investment policies and that the portfolio earned interest of $48,731 (including the EDC funds). TAX REPORT The tax report reflects collections from the Jefferson Tax Office of $3,879,629, the Orange Count3, Tax Office of $936,088, and the Finance Department of $43,173. Total collections for the month xvere $4,858,890. DISBURSEMENT REGISTER The disbursement regxster 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. ~erely, Finance Dixector RO. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/983-8115 · FAX 409/983-8291 0 , ~ ~ o~o oo~ ~oo~o~oooo ~ o E ol o~ ~ ~ .... hi 0 ~x '- .9 ~ ~ ~o~ ~ ~ e~ 8~o~o ~m.~ ~oo~mo~o~ g g~<oo~o~ o co Investment Report City of Port Arthur 01/01/02 - 01/31/02 This report summarizes the investment position of City of Port Arthur for the period 01/01/02 to 01/31/02. 12/31/01 01/31/02 Book Value 21,670,214.88 Market Value 21,687,963.13 Par Value 21.670,509.31 Weighted Average Maturity (in Days) Weighted Average Yield-to-Maturity of Portfolio Yield-to-Maturity of 2 Yr. Treasury Note 25,201,381.92 25,225,705.43 2.6293% 2.6293% 3.0500% 3.1400% 17,563.89 This report is presented in accordance with the TeRas Government Code Title 10 Section 2256.023. The below signed hereby certify that, to the best of their knowledge on the date this report was created, City of Port Arthur is in compliance with the provisions of Government Code 2256 and with the stated policies and strategies of City of Port Arthur. Page: 1 Investment Report City of Port Arthur 01/01/01 - 01/31/01 Portfolio Composition - 12/31/00 Portfolio Composition - 01/31/01 Maturity Aging - 12131100 vs 01131101 · Previous Period · Current Period Portfolio Performance - 01101101 to 01/31/01 m Portfolio m 2 Yr. Treasury Note Page: 2 0000000000 0 City of Port Arthur Taxes collected for January, 2002 Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and interest collected through the month of January, 2002. Collected by Jefferson County Tax Assessor-Collector Collected by Orange County Tax Assessor-Collector Collected by Finance Department $ 3,879,629.57 936,088.14 43,172.50 $ 4,858,890.21 January Less YTD Amount Percentage 2002 Collections Refunds Collections Budgeted YTD Current $ 3,839,730.71 $ 130.28 $ 5,751,509.26 $ $8,677,450 66.28% Delinquent 19,649.34 84,992.16 200,000 42.50% P & I 20,379.80 46,100.69 220,000 20.95% Other 25,000 Total $ 3,879,759.85 $ 130.28 $ 5,882,602.11 $ 9,122,450 64.48% This report shows that $ 5,882,602.11 or 64.48% of the amount budgeted from property tax sources has been collected in January, 2002. Five Year Collection History. -- Property Taxes Tax January Less YTD Amount Percentage Year Collections Refund Collections Budgeted YTD 2001 $ 3,879,759.85 $ 130.28 $ 5,882,602.11 $ 9,122,450 64.48% 2000 3,457,629.35 1,485.31 5,444,844.52 8,929,780 60.97% 1999 3,611,712.91 6,581.34 5,345,017.20 8,510,744 62.80% 1998 2,784,621.20 5,205.44 4,938,501.63 8,212,200 60.14% 1997 3,304,872.32 354.63 5,179,889.72 7,328,530 70.68% Five Year Collection History -- Industrial District Payments January Less YTD Amount Percentage Industrial Collections Refund Collections Budgeted YTD 2001 $ 43,172.50 $ $ 13,573,972.51 13,330,295 101.83% 2000 12,161,705.40 12,501,404 97.28% 1999 12,301,346.55 12,547,569 98.04% 1998 11,897,845.37 11,632,142 102.28% 1997 12,052,533.17 13,385,850 90.04% MIRIAM K. JOHNSON TAX ASSESSOR-COLLECTOR JEFFI]RSON COUNTY COUR'DIOUSE P. O. BOX 2112 BEAUMONT, TEXAS 77704 409-835-8516 FAX 409-~35-8589 SYLVIA E, MYEI~ CHIEF OPERATIONS 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 CITY OF PORT ARTHUR affirm, under oath, that this amount $3,879,629.57 CITY OF PORT ARTHUR January, 2002. , represents all taxes collected for during the month of Min'i'a-m K. Johnson CITY OF PORT ARTHUR RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS .FOR JANUARY 2002 VOUCHERS ISSUED Date Voucher # 1/2/02 092612 1/3/02 092660 1/4/02 092690 1/7/02 092716 1/8/02 092763 1/8/02 092764 1/9/02 092808 1/9/02 092809 1/10/02 092828 1/10/02 092829 1/11/02 092854 1/11/02 092855 1/14/02 092882 1/14/02 092883 1/15/02 092942 1/15/02 092943 1/16/02 092967 1/15/02 092968 1/17/02 092995 1/17/02 092996 1/18/02 093016 1/18/02 093017 1/22/02 O93O37 1/22/02 O93O38 1/23/02 093089 1/23/02 093090 1/24/02 093113 1/24/02 093114 1/25/02 093138 1/25/02 O93139 1/28/02 093166 1/28/02 093167 1/29/02 093221 1/29/02 093222 1/30/02 093235 1/30/02 093253 Current Delinquent Amount Amount $299,518.70 $123,102.38 $58,621.29 $86,411.95 $106,239.40 $1,799.96 $44,613.76 $1,211.03 $30,630.45 $1,965.87 $40,652.79 $462.20 $35,113.34 $427.70 $123,156.69 $261.60 $45,383.85 $9,089.61 $27,450.37 $1,512.90 $38,528.48 $143.85 $50,241.01 $733.37 $389,303.98 $930.75 $177,209.44 $605.41 $56,584.28 $252.68 $212,732.71 $587.70 $642,059.33 $1,797.68 $452,074.93 $1,359.92 1/31/02 093291 $274,802.93 1/31/02 093292 $1,483.65 PRIOR MONTH COLLECTIONS TO BE DISBURSED Current Disbursements $3,314,432.06 Delinquent Disbursement LESS TOTAL DISBURSEMENTS Current Collections $3,847,148.65 Delinquent Collection PLUS TOTAL COLLECTIONS SUBTOTAL ADJUSTMENTS Current Adjustments $0.00 Delinquent Adjustments PLUS TOTAL DISBURSEMENT ADJUSTMENTS TOTAL FUNDS TO BE DISBURSED $24,625.88 $32,480.92 $293,401.40 $3,339,057.94 $3,879,629.57 $8~3,973,03 $0.00 $0.00 $833,973.03 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR JANUARY 2002 CURRENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections $2,327,978.28 Personal Raw Tax Collections $1,511,752.43 TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds $130.28 Personal Raw Tax Relunds $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 $0.00 Personal P & I on Raw Tax Collections $7,548.22 TOTAL P & I ON COLLECTIONS 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 $3,839,730.71 $130.28 $0.00 $7,548.22 $0.00 $3,839,600.43 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 Relunds 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 $7,548.22 $3,847,148.65 $0.00 TOTAL CURRENT COLLECTIONS $3,847,148.65 $0,00 $3,847,148.65 $o.oo $0.00 $3,847,148.65 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR JANUARY 2002 DELINQUENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections $18,328.54 Personal Raw Tax Collections $1,320.80 TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds $0.00 Personel Raw Tax Relunds $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 & l on Raw Tax Collections . $12,066.48 Personal P & I on Raw Tax Collections $765.10 TOTAL P & I ON COLLECTIONS 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 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 $19,649.34 $0.00 $0.00 $12,831.58 $0.00 $0.00 MISCELLANEOUS IN LIEU OFTAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHERTAXCOLLECTED $0.00 $0.00 $0.00 TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS TOTAL DELINQUENT COLLECTIONS $19,649.34 $12,831.58 $32,480.92 $0.00 TOTAL CURRENT AND DELINQUENT COLLECTIONS $32,480.92 $0.00 $32,480.92 $o.oo $0.00 $32,480.92 $3,879,629.57 CITY OF PORT ARTHUR CURRENT TAX RECEIVABLE UPDATE FOR JANUARY 2002 - TAX YEAR 2001 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $4,029,273.64 $2,112,449.13 $6,141,722.77 $0.00 $0.00 $0.00 $4,029,273.64 $2,112,449.13 $6,141,722.77 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 $o.oo $o.oo so~o $4,029,273,64 $2,112,449.13 $6,141,722.77 $2,327,978.28 $1,511,752.43 $3,839,730.71 $130.28 $0.00 $130.28 $0.00 $0.00 $0.00 $2,327,848.00 $1,511,752.43 $3,839,600.43 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,701,425.64 $600,696.70 $2,302,122.34 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF JANUARY 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 ($6,930.24) $3,700.07 ($3,230,17) $5,677,017.59 $2,376,614.01 $8,053,631.60 $0.00 $0,00 $(~.00 $0.00 $0.00 $0.00 $5,677,017.59 $2,376,614.01 $8,053,631.60 $3,976,369.97 $1,775,917.31 $5,752,287.28 $182.39 $0.00 $182.39 $595.63 $0.00 $595.63 $3,975,591.95 $1,775,917.31 $5,751,509.26 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 $1,701,425.64 $600,696.70 $2,302,122.34 70.03% 74.72% 71.42% CITY OF PORT ARTHUR DELINQUENT TAX RECEIVABLE UPDATE FOR JANUARY 2002 - TAX YEAR 2001 BEGINNING RECEIVABLE Supp Levy 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 $1,635,691.75 $684,690.01 $2,320,381.76 $0.00 $0.00 $0.00 $1,635,691.75 $684,690.01 $2,320,381.76 $0.00 $0.00 ~0.00 $0.00 $0.00 $0.00 $1,635,691.75 ' $684,690.01 $2,320,381.76 $18,328.54 $1,320.80 $19,649.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18,328.54 $1,320.80 $19,649.34 Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,617,383.21 $683,369.21 $2,300,732.42 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF JANUARY 2002 FOR DELINQUENT TAX YEARS - TAX YEAR 2001 REAL PERSONAL TOTAL BEGINNING RECEIVABLE Supp Levy 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 ($17,415.36) ($5,360.23) ($22,775.59) $1,690,254.42 $696,415.01 $2,386,669,43 ($944.85) $0.00 ($944.85) $0.00 $0.00 $0.00 $1,689,309.57 $696,415.01 $2,385,724.58 $87,202.32 $13,484.46 $100,686.78 $106.58 $0.00 $106.58 $15,149.38 $438.66 $15,588.04 $71,946.36 $13,045.80 $84,992.16 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,617,363.21 $683,369.21 $2,300,732.42 4.26% 1,87% 3.56% 121 © ~=ooooooooooo~====~~ooog~g~~>~=°~ooo ooooooooooooooo~ooooooooooooooooooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooooo