July 2019 Revenue

August 8, 2019

At the second City Council meeting each month, our Finance Director delivers a written and verbal recount of the City's financial status. These are the preliminary revenue figures for July 2019 (which is actually June's revenue collected in the month of July).

July 2019 Sales Tax Revenue:

With the limited duration sales tax increase:

$3,176,490.29
-119,955.79
$3,056,534.50
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

Without the limited duration sales tax increase:

$2,436,280.55
-107,812.18
$2,328,468.37
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

July 2018 (with the sales tax increase):

$2,531,544.91
-96,025.93
$2,435,528.98
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

July 2018 (without the sales tax increase)

$1,965,940.98
-84,667.25
$1,881,273.73
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

There was a 25.48% increase in gross tax receipts totaling $644,935.38. Excluding the limited duration sales tax collected, there was a 23.92% decrease in gross tax receipts totaling $470,339.57.

There was a 25.50% increase in net taxes(with the rebates taken out) of $621,005.52.) Without the sales tax decrease, we reflect a 23.77% increase in net taxes of $447,194.64.

One item of note for this month is that we have one large business in town that did not pay their monthly sales taxes in May or June (for April and May sales, respectively). We received these funds in July, along with their regularly scheduled July payment. The “10-4-005-000 Sales Tax” line item shows a large increase this month because of this.

This month, the sales tax increase generated an additional $740,209.74. A check in this amount will be cut and deposited into the debt service reserve account on August 12, 2019. Thus far, the sales tax increase has generated an additional $49,157,665.79 and in that same time period (less one month as the transfers to the debt service reserve account are made one month in arrears), the City of Prattville has paid $49,253,242.81 toward our debt service.

The Lodging Fee Revenue for the month was $33,738.00.

If you have any questions about any of these figures, please do not hesitate to contact our Finance Director Daniel Oakley at .

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