HomeMy WebLinkAbout(2) FEBRUARY FINANCIAL REPORTCITY OF PORT ARTHUR
FINANCIAL REPORT
FEBRUARY, 2002
PREPARED BY:
- THE FINANCE DEPARTMENT
APRIL 3, 2002
OSCAR G. ORTIZ, MAYOR
FELIX A. BARKER, MAYOR PRO-TEM
COUNCIL MEMBERS:
CRAIG HANNAH
THOMAS J. HENDERSON
TOM GILLAM, III
REV. RONNIE LINDEN
BOB BOWERS
ROSE MITCHELL CHAISSON
ROBERT E. ALLEN
April 9, 2002
Steve Fitzgibbons, City Manager
Mayor and Councilmembers
C~t~ o/
STEPHEN FITZGIBBONS
CiTY MANAGER
JAN STRODER
ACTING CITY SECRETARY
MARK T. SOKOLOW
CITY ATTORNEY
I am pleased to present the financial report for the month ended February 28, 2002. This
report covers the.first five months of the 2002 fiscal year.
RESULTS OF OPERATIONS
Sales tax remains below the same period last year, but is recovering. February Sales Tax was
1.75% ahead of February 2001. The February Sales Tax is based on December Sales. With
the Super Wal-Mart opening in February; ~ve look forward to Sales Tax revenue increases to
begin ~vith the April collection (for the last week and ½ of February) and in full with 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 xvith adopted investment
policies and that the portfolio earned interest of $46,136 (including the EDC funds).
TAx REPORT
The tax report reflects collections from the Jefferson Tax Office of $1,357,526.
DISBURSEMENT REGISTER
The disbursement register is presented to Council as is reqinred.
I appreciate the opportunity to present this information to you and look forward to your
cormments and questions.
ecc~a~UnQde~rrely' ~
Finance Director
P.O. SOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/983-8115 · FAX 409/983-8291
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Investment Report
City of Port Arthur
02/01/02 - 02/28/02
This report summarizes the investment position of City of Port Arthur for the period 02/01/02 to 02/28/02.
01/31/02 02/28/02
Book Value
Market Value
Par Value
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
25,201,666.31
26,127,064.20
26,168,848.04
26,128,317.49
I 362
2.6293% 2.7956%
3.1400% 3.0500%
18,794.89
This report is presented in accordance with the Texas 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.
Investment Report
City of Port Arthur
02/01/02 - 02/28/02
Portfolio Composition - 01/31102
Portfolio Composition - 02/28/02
Maturity Aging - 01131102 vs 02~28~02
· Previous Period · Cui'rent Period
Portfolio Performance - 02/01/02 to 02/28/02
Page: 2
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City of Port Arthur
Taxes collected for February, 2002
Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and
interest collected through the month of February, 2002.
Collected by Jefferson County Tax Assessor-Collector
Collected by Orange County Tax Assessor-Collector
Collected by Finance Depm'tment
$ 1,357,526.27
$ 1,357,526.27
February Less YTD Amount Percentage
2002 Collections Refunds Collections Budgeted YTD
Current $ 1,320,340.14 $ 5,223.86 $ 7,066,625.54 $ $8,677,450 81.44%
Delinquent 23,036.81 108,028.97 200,000 54.01%
P & I 19,738.85 365.67 65,473.87 220,000 29.76%
Other 25,000
Total $ 1,363,115.80 $ 5,589.53 $ 7,240,128.38 $ 9,122,450 79.37%
This report shows that $1,357,526.27or 81.44% of the amount budgeted from property tax sources has been
collected in February, 2002.
Five Year Collection History ~- Property Taxes
Tax February Less YTD Amount Percentage
Year Collections Refund Collections Budgeted YTD
2001 $ 1,363,115.80 $ 5,589.53 $ 7,240,128.38 $ 9,122,450 79.37%
2000 1,652,285.63 2,861.41 7,094,268.74 8,929,780 79.45%
1999 2,457,108.76 1,980.72 7,800,145.24 8,510,744 91.65%
1998 3,032,559.69 729.23 7,970,332.09 8,212,200 97.05%
1997 1,354,986.38 1,523.79 6,533,352.31 7,328,530 89.15%
Five Year Collection History -- Industrial District Payments
February Less YTD Amount Percentage
Industrial Collections Refund Collections Budgeted YTD
2001 $ - $ - $ 13,573,972.51 13,330,295 101.83%
2000 12,503,377.90 12,501,404 100.02%
1999 216,672.50 12,518,019.05 12,547,569 99.76%
1998 341,672.50 11,897,845.37 11,632,142 102.28%
1997 12,362,765.98 13,385,850 92.36%
MIRIAM K. JOHNSON
TAX A$$F_~SOR-COLLECTOR
JEFFERSON COUNTY COURTHOUSE
P. O. BOX 2112 BEAUMONT, TEXAS 77704
409-835-8516 FAX 409-835-8589
STATE OF TEXAS
COUNTY OF JEFFERSON
I, Miriam K. Johnson, the Tax Assessor-Collector of Jefferson County, Texas, and also, by contract or statute,
tile Tax Assessor-Collector for
affirm, under oath, that this amount
CITY OF PORT ARTHUR
February, 2002.
CITY OF PORT ARTHUR
$l,357,526.27
, represents all taxes collected for
during the month of
Mifmm K. johnsOn
CiTY OF PORT ARTHUR
RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS
EOR FEBRUARY 2002
VOUCHERS ISSUED
Date Voucher #
2/1/02 093325
2/1/02 093326
2/4/02 093402
2/4/02 093403
2/5/02 093458
2/5/02 093459
2/5/02 093511
2/5/02 093512
2/7/02 093521
2/7/02 093522
2/11/02 093567
2/11/02 093568
2/12/02 093602
2/12/02 093603
2/13/02 093614
2/13/02 093615
2/15/02 093632
2/15/02 093633
2/19/02 093651
2/19/02 093652
2/20/02 093697
2/20/02 093698
2/21/02 093721
2/21/02 093722
2/22/02 093727
W2W02 093728
2/25/02 093748
2/25/02 093749
2/26/02 093785
2/26/02 093786
2/27/02 093800
2/27/02 093801
2/28/02 093821
2/26/02 093822
Current Delinquent
Amount Amount
$832,235.29
$1,737.74
$204,084.53
$1,438.40
$782,835.45
$3,913.92
$83,646.94
$1,249.31
$7,434.48
$2,687.13
$4,308.56
$1,403.32
$11,104.08
$1,664.32
$5,037.53
$1,957.56
$71,056.70
$924.65
$11,461.05
$3,420.93
$30,640.28
$2,101.74
$31,990.16
$1,033.15
$7,887.46
$558.31
$15,064.14
$2,253.73
$11,537.47
$2,521.63
$10,430.26
$532.88
$9,878.38
$1,695.35
PRIOR MONTH COLLECTIONS TO BE DISBURSED
Currant Disbumements $2,130,632.76
Delinquent Disbursement
LESS TOTAL DISBURSEMENTS
Current Collections $1,325,781.17
Delinquent Collection
PLUS TOTAL COLLECTIONS
SUBTOTAL
ADJUSTMENTS
Current Adjustments $0.00
Delinquent Adjustments
PLUS TOTAL DISBURSEMENT ADJUSTMENTS
TOTAL FUNDS TO BE DISBURSED
$31,094.07
$0.00
$833,973.03
$2,161,726.83
$1,357,526.27
$29,772.47
$0.00
$29,772.47
CITY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR FEBRUARY 2002
CURRENT COLLECTIONS FOR TAX YEAR 2001
Real Raw Tax Collections
Persona] Raw Tax Collections
TOTAL RAW TAX COLLECTIONS
Real Raw Tsx 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
$910,911,74
$409,428,40
$1,320,340.14
$4,145.24
$1,078.62
$5,223.86
$0.00
$0.00
$0.00
$10,505.64
$524.92
$11,030.56
$290.17
$75.50
$365.67
$0.00
$0.00
$1,315,116.28
Real P & I on Supplemental Refunds
Personal P & I on Supplemental Refunds
LESS P & I ON SUPP REFUNDS
$0.00
NET PENALTY & INTEREST
NET COLLECTED
Add Back Refunds Reimbursed Separately by Edtity
NET DOLLARS COLLECTED
MISCELLANEOUS
IN LIEU OF TAX COLLECTIONS
OTHER TAX REVENUE
TOTAL OTHER TAX COLLECTED
$0.00
$0.00
$0.00
$10,664.89
$1,325,781.17
$o.oo
TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER COLLECTIONS
LESS TIF COLLECTIONS
MANUAL ADJUSTMENTS
$1,325,781.17
$0.00
$1,325,781.17
$0.00
$0.00
TOTAL CURRENT COLLECTIONS $1,325,781.17
CITY OF PORT ARTHUR
REPORT OF COLLECTIONS FOR FEBRUARY 2002
DELINQUENT COLLECTIONS FOR TAX YEAR 2001
Rea[ Raw Tax Collections $21,162.43
Personal Raw Tax Collections $1,874.38
TOTAL RAW TAX COLLECTIONS
Real Raw Tax Refunds $0.00
Personal Raw Tax Refunds $0.o0
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 $8,217.54
Personal P & I on Raw Tax Collections $490.75
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 & 1 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
$23.036.81
$0.00
$0.00
$8,708.29
$0.00
$0.00
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
$23,036.81
$8,708.29
$31,745.10
$0.00
$31,745.10
$0.00
$31,745.10
$0.00
$0.00
$31,745.10
$1,357,526.27
ClTY OFPORTARTHUR
CURRENTTAX RECEIVABLE UPDATE
FOR FEBRUARY2002-TAX YEAR2001
BEGINNING RECEIVABLE
Supp Levy Increase(Decrease)
REVISED TAX RECEIVABLE
REAL PERSONAL
TOTAL
$1,701,425.64 $600,696.70 $2,302,122.34
$0.00 $0.00 $0.00
$1,701,425.64 $600,696.70 $2,302,122.34
Levy (Lost)Gain
Levy Legally Uncollectable
ADJUSTED TAX RECEIVABLE
Current Collections
Less Regular Refunds
Less Supplemental Refunds
NET CURRENT COLLECTIONS
$0.00 ($388.41) ($388.41)
$o.oo $o.oo $o.oo
$1,701,425.64 $600,308.29 $2,301,733.93
$910,911.74 $409,428.40 $1,320,340.14
$4,145.24 $1,078.62 $5,223.86
$0.00 $0.00 $0.00
$906,766.50 $408,349.78 $1,315,116.28
Plus Overpayments
Less Double Pay-Refunds
ENDING CURRENT TAX RECEIVABLE
$0,00 $0.00 $0.00
$0.00 $0.00 $0.00
$794,659.14 $191,958.51 $986,617.65
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF FEBRUARY 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 ($388.41) ($388.41 )
$0.00 $0.00 $0.00
$5,677,017,59 $2,376,225.60 $8,053,243.19
$4,887,281.71 $2,185,345.71 $7,072,627.42
$4,327.63 $1,078.62 $5,406.25
$595.63 $0.00 $595.63
$4,882,358.45 $2,184,267.09 $7,066,625.54
Plus Overpayments
Less Double Pay-Refunds
ENDING CURRENT TAX RECEIVABLE
PERCENTAGE OF RECEIVABLETO DATE
$0,00 $0.00 $0.00
$0.00 $0.00 $0.00
$794,659.14 $191,958.51 $986,617.65
86.00% 91.92% 87.75%
CITY OF PORT ARTHUR
DELINQUENT TAX RECEIVABLE UPDATE
FOR FEBRUARY 2002 - TAX YEAR 2001
REAL PERSONAL
TOTAL
BEGINNING RECEIVABLE
Supp Levy Increase(Decrease)
REVISED TAX RECEIVABLE
$1,617,363.21 $683,369.21 $2,300,732.42
$0.00 $0.00 $0.00
$1,617,363.21 $683,369.21 $2,300,732.42
Levy (Lost)Gain
Levy Legally Uncollectable
ADJUSTED TAX RECEIVABLE
($54,964.59) $0.00 ($54,964.59)
$0.00 $0.00 $0.00
$1,562,398.62 $683,369.21 $2,245,767.83
Delinquent Collections
Less Regular Refunds
Less Supplemental Refunds
NET DELINQUENT COLLECTIONS
$21,162.43 $1,874.38 $23,036.81
$0.00 $0.00 $0.00
$0.00 $0.00 $0.00
$21,162.43 $1,874.38 $23,036.81
Plus Overpayments
Less Double Pay-Refunds
ENDING DELINQUENT TAX RECEIVABLE
$0.00 $0.00 $0.00
$0.00 $0.00 $0.00
$1,541,236.19 $681,494.83 $2,222,731.02
CITY OF PORT ARTHUR
YEAR-TO-DATE TAX RECEIVABLE AS OF FEBRUARY 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 Colleclions
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
($55,909.44) $0.00 ($55,909.44)
$0.00 $0.00 $0.00
$1,634,344.98 $696,415.01 $2,330,759.99
$108,364.75 $15,358.84 $123,723.59
$106.58 $0.00 $106.58
$15,149.38 $438.66 $15,588.04
$93,108.79 $14,920.18 $108,028.97
$0.00 $0.00 $0.00
$0.00 $0.00 $0.00
$1,541,236.19 $681,494.83 $2,222,731.02
5.70% 2.14% 4.63%
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