June 2018 Revenue

July 3, 2018

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 June 2018 (which is actually May's revenue collected in the month of June).

June 2018 Sales Tax Revenue:

With the limited duration sales tax increase:

$2,388,477.41
-73,397.54
$2,315,079.87
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

Without the limited duration sales tax increase:

$1,848,928.03
-63,446.22
$1,785,481.81
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

June 2017 (with the sales tax increase):

$2,257,590.18
-64,828.53
$2,192,761.65
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

June 2017 (without the sales tax increase)

$1,748,695.38
-55,354.86
$1,693,340.52
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

There was a 5.80% increase in gross tax receipts totaling $130,887.23. Excluding the limited duration sales tax collected, there was a 5.73% increase in gross tax receipts totaling $100,232.65.

There was a 5.58% increase in net taxes of $122,318.22. Without the sales tax increase, we reflect a 5.44% increase in net taxes of $92,141.29.

This month, the sales tax increase generated an additional $539,549.38. A check in this amount was cut and deposited into the debt service reserve account on July 9, 2018. Thus far, the sales tax increase has generated an additional $41,844,618.06 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 $42,140,855.44 toward our debt service.

The Lodging Fee Revenue for the month was $34,441.50.

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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