The URL can be used to link to this page

Home My WebLink About4. MARCH FINANCIAL REPORTCITY OF PORT ARTHUR FINANCIAL REPORT MARCH, 2002 PREPARED BY: THE FINANCE DEPARTMENT APRIL 25, 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 City of Texas STEPHEN FITZGIBBONS CITY MANAGER JAN STRODER ACTING CITY SECRETARY MARK T. GOKOLOW CITY ATTORNEY April 26, 2002 Steve Fitzgibbons, City Manager Mayor and Councilmembers I am pleased to present the financial report for the month ended March 31, 2002. This report covers the first half of the 2002 fiscal year. RESULTS OF OPERATIONS Sales tax remains below the same period last year, but is recovering. March Sales Tax xvas 8.4% ahead of March 2001. (The March Sales Tax is based on January Sales.) The year to date Sales Tax is still slightly below last year. With the Super Wal-Mart opening in February, we look forward to Sales Tax revenue increases to begin 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. The Sewer revenue for the month is below last year due to the correction of a prior month billing error. INVESTMENT REPORT The monthly investment report reflects that the City complied with adopted investment policies and that the portfolio earned interest of $64,917 (including the EDC funds). TAX REPORT The tax report reflects collections from the Jefferson Tax Office of $166,974.20. DISBURSEMENT REGISTER The disbursement register is presented to Council as is required. I appreciate the oppurmn/ty to present tkis information to you and look forxvard to your comments and questions. Rebecca Underhill Finance Director RO. BOX 1089 · PORT ARTHUR, TEXAS 77641-1089 · 409/983-8115 · FAX 409/983-8291 0000000000 0000000000 O0 X o~ oO Investment Report City of Port Arthur 03/01/02 - 03/31/02 This report su~u~arizes the investment position of City of Port Arthur for the period 03/01/02 to 03/31/02. 02/28/02 03/31/02 Book Value Market Value Par Value Weighted Average Maturity (in Days) Weighted Average Yield-to-Maturity of Portfolio Yield-to-Maturity of Accrued Interest 26,127,064.20 26,168,848.04 26,128,317.49 38,680,679.62 362 173 2.7956% 2.3568% 0.0000% 0.0000% 23,284.43 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. Page: 1 ~ooooooo~ 0000 0 0000000000000 oo~oaoom~mq~q ~ooR~r,~qq~qqqqq~qqqq City of Port Arthur Taxes collected for March, 2002 Pursuant to Section 31.10 of Texas Property Tax Code, the attached report of taxes, penalty and interest collected through the month of March, 2002. Collected by Jefferson County Tax Assessor-Collector Collected by Orange County Tax Assessor-Collector Collected by Finance Department $ 166,974.20 $ 166,974.20 March Less YTD Amount Percentage 2002 Collections Refunds Collections Budgeted YTD Current $ 185,958.41 $ 59,850.46 $ 7,192,733.49 $ $8,677,450 82.89% Delinquent 21,912.64 2,015.07 127,926.54 200,000 63.96% P&I 21,210.64 241.96 86,442.55 220,000 39.29% Other 25,000 Total $ 229,081.69 $ 62,107.49 $ 7,407,102.58 $ 9,122,450 81.20% This report shows that $ 7,407,102.58 or 81.20% of the amount budgeted from property tax sources has been collected through March, 2002. Five Year Collection History -- Property. Taxes Tax March Less YTD Amount Percentage Year Collections Refund Collections Budgeted YTD 2001 $ 229,081.69 $ 62,107.49 $ 7,407,102.58 $ 9,122,450 81.20% 2000 193,836.46 1,297.04 7,286,808.16 8,929,780 81.60% 1999 218,651.10 787.54 8,018,008.80 8,510,744 94.21% 1998 157,351.75 602.42 8,127,081.42 8,818,000 92.16% 1997 181,698.58 2,855.50 6,712,195.39 7,328,530 91.59% Five Year Collection History -- Industrial District Payments March 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 ASSESSOR-COLLECTOR JEFFERSON COUNTY COURTHOUSE P. O. BOX 2112 BEALrMONT. TEXA~ 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, the Tax Assessor-Collector for affirm, under oath, that this amount CITY OF PORT ARTHUR March, 2002. CITY OF PORT ARTHUR $166,974.20 , represents all taxes collected for during the month of Miriam K. Johnson CITY OF PORT ARTHUR RECONCILIATION OF DISBURSEMENTS TO COLLECTIONS ' FOR MARCH 2002 VOUCHERS ISSUED Date Voucher # Current Delinquent Amount Amount 3/1/02 093842 $27,383.70 3/1/02 093843 $2,388.77 3/4/02 093903 $10,722.88 3/4/02 093904 $514.33 3/5/02 093935 $10,543.93 3/5/02 093936 $1,339.28 3/7/02 093956 $4,608.68 3/7/02 093957 $890.55 3/8/02 093964 $3,582.81 3/8/02 093965 $2,564.18 3/11/02 093987 $2,959.07 3/11/02 093988 $1,438.14 3/14/02 094036 $13,815.20 3/14/02 094037 $8,971.19 3/15/02 094051 $6,479.59 3/13/02 094052 $2,283.05 3/18/02 094070 $8,266.86 3/18/02 094071 $1,157.86 3/19/02 094104 $11,783.24 3/19/02 094105 $865.81 3/20/02 094114 $5,894.86 3/20/02 094115 $1,268.55 3/21/02 094126 $5,840.28 3/21/02 094127 $2,047.90 3/25/02 094154 $9,339.40 3/25/02 094155 $1,046.57 3/26/02 094185 $5,022.82 3/26/02 094186 $1,048.90 PRIOR MONTH COLLECTIONS TO BE DISBURSED Current Disbursements $126,243.32 Delinquent Disbursement LESS TOTAL DISBURSEMENTS Current Coilections $136,944,71 Delinquent Collection $27,825.08 $30,029.49 $29,772.47 $154,068.40 PLUS TOTAL COLLECTIONS SUBTOTAL ADJUSTMENTS Current Adjustments Delinquent Adjustments PLUS TOTAL DISBURSEMENT ADJUSTMENTS TOTAL FUNDS TO BE DISBURSED $0.00 $0.00 $166,974.20 $42,678.27 $0.00 $42,678.27 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR MARCH 2002 CURRENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections Personal Raw Tax Collections TOTAL RAW TAX COLLECTIONS Real Raw Tax 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 Rea[ P & I on Raw Tax Refunds Personal P & I on Raw Tax Refunds LESS P & I ON RAW TAX REFUNDS $169,894.49 $16,063.92 $46,971.47 $4,268.12 $8,610.87 $0.00 $9,974.77 $895.09 $5.83 $0.00 $27.27 $0.00 $185,958.41 $51,239.59 $8,610.87 $10,869.86 $5.83 $126,107.95 Real P & I on Supplemental Refunds Personal P & I on Supplemental Refunds LESS P & I ON SUPP REFUNDS $27.27 NET PENALTY & INTEREST NET COLLECTED Add Back Refunds Reimbursed Separately by E~tity NET DOLLARS COLLECTED MISCELLANEOUS IN LIEU OF TAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED $0.00 $0.00 $0.00 $10,836.76 $136,944.71 $0.00 TOTAL DOLLARS COLLECTED FOR CURRENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS $136,944.71 $0.00 $136,944.71 $0.00 $0.00 TOTAL CURRENT COLLECTIONS $136,944.71 CITY OF PORT ARTHUR REPORT OF COLLECTIONS FOR MARCH 2002 DELINQUENT COLLECTIONS FOR TAX YEAR 2001 Real Raw Tax Collections $20,746.43 Personal Raw Tax Collections $1,166.2 t TOTAL RAW TAX COLLECTIONS Real Raw Tax Refunds $101.50 Personal Raw Tax Refunds $0.00 LESS TOTAL RAW TAX REFUNDS Real Supplemental Refunds $1,913.57 Personal Supplemental Refunds $0.00 LESS TOTAL SUPP REFUNDS NET RAW TAX COLLECTIONS Real P & I on Raw Tax Collections $10,025.49 Pemonal P & I on Raw Tax Collections $315.29 TOTAL P & I ON COLLECTIONS Real P & I on Raw Tax Refunds $171.54 Personal P & I on Raw Tax Refunds $0.00 LESS P & 1 ON RAW TAX REFUNDS Real P & [ on Supplemental Refunds $37.32 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 $21,912.64 $101.50 $1,913.57 $19,897~57 $10,340.78 $171.54 $37.32 $10,131.92 $30,029.49 $o.oo MISCELLANEOUS IN LIEU OFTAX COLLECTIONS OTHER TAX REVENUE TOTAL OTHER TAX COLLECTED $0.00 $0.00 $o.oo TOTAL DOLLARS COLLECTED FOR DELINQUENT AND OTHER COLLECTIONS LESS TIF COLLECTIONS MANUAL ADJUSTMENTS $30,029.49 $0.00 $30,029.49 $0.00 $0.00 TOTAL DELINQUENT COLLECTIONS $30,029.49 TOTAL CURRENT AND DELINQUENT COLLECTIONS $166,974.20 CITY OF PORT ARTHUR CURRENT TAX RECEIVABLE UPDATE FOR MARCH 2002 - 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 $794,659.14 $191,958.51 $986,617.65 ($10,020.77) $10,508.07 $487.30 $784,638.37 $202,466.58 $987,104.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $784,638.37 $202,466.58 $987,104.95 $169,894.49 $16,063.92 $185,958.41 $46,971.47 $4,268.12 $51,239.59 $8,610.87 $0.00 $8,610.87 $114,312.15 $11,795.80 $126,107.95 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $670,326.22 $190,670.78 $860,997.00 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF MARCH 2002 FOR CURRENT TAX YEAR 2001 BEGINNING RECEIVABLE Supp Levy Increase(Decrease) REVISED TAX RECEIVABLE REAL PERSONAL TOTAL $5,683,947.83 $2,372,913.94 $8,056,861.77 ($16,951.01) $14,208.14 ($2,742.87) $5,666,996.82 $2,387,122.08 $8,054,118.90 Levy(Lost)Gain Levy Legally Uncolle~able ADJUSTED TAX RECEIVABLE Current Collections Less Regular Refunds Less Supplemental Refunds NET CURRENT COLLECTIONS $0.00 ($388.41) ($388.41) $0.00 $0.00 $0.00 $5,666,996.82 $2,386,733.67 $8,053,730.49 $5,057,176.20 $2,201,409.63 $7,258,585.83 $51,299.10 $5,346.74 $56,645.84 $9,206.50 $0.00 $9,206.50 $4,996,670.60 $2,196,062.89 $7,192,733.49 Plus Overpayments Less Double Pay-Refunds ENDING CURRENT TAX RECEIVABLE PERCENTAGE OF RECEIVABLE ~O DATE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $670,326.22 $190,670.78 $860,997.00 88.17% 92.01% 89.31% CITY OF PORT ARTHUR DELINQUENT TAX RECEIVABLE UPDATE FOR MARCH 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 $1,541,236.19 $681,494.83 $2,222,731.02 ($1,965.58) $0.00 ($1,965.58) $1,539,270.61 $681,494.83 $2,220,765.44 ($216.76) $0.00 ($216.76) $0.00 $0.00 $0.00 $1,539,053.85 $581,494.83 $2,220,548.68 $20,746.43 $1,166.21 $21,912.64 $101.50 $0.00 $101.50 $1,913.57 $0.00 $1,913.57 $18,731.36 $1,166.21 $19,897.57 Plus Overpayments Less Double Pay-Refunds ENDING DELINQUENT TAX RECEIVABLE $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,520,322.49 $680,328.62 $2,200,651.11 CITY OF PORT ARTHUR YEAR-TO-DATE TAX RECEIVABLE AS OF MARCH 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 ($19,380.94) ($5,360.23) ($24,741.17) $1,688,288.84 $696,415.01 $2,384,703.85 ($56,126.20) $0.00 ($56,126.20) $0.00 $0.00 $0.00 $1,632,162.64 $696,415.01 $2,328,577.65 $129,111.18 $16,525.05 $145,636.23 $208.08 $0.00 $208.08 $17,062.95 $438.66 $17,501.61 $111,840.15 $16,086.39 $127,926.54 $0.00 $0.00 $0.00 $0.00 $0,00 $0.00 $1,520,322.49 $680,328.62 $2,200,651.11 6.85% 2.31% 5.49% 121 oooooooooooooo~oooooooooooooo~ooooooooooooooooooo ooooooooooooooooooooooooooooooooooooooooooooooooo