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Committee hears monthly financial report; year-to-date receipts reported higher than last year
Summary
Committee members reviewed monthly financial reports; presenters said September receipts were down from August and July but that first-quarter year-to-date collections were higher than the prior year, with speakers citing a reported increase tied to recent events.
Committee members reviewed the monthly financial report and discussed timing differences in sales and hotel tax receipts.
A presenter reported that September collections were lower compared with August and July, but that first-quarter fiscal-year receipts were higher than the same period last year. At one point a 58% figure was cited in the discussion as a year-over-year measure; the presenter also compared specific figures, saying last year's amount was about $28,004 and current receipts were about $96,001.
Committee members and staff attributed month-to-month swings to differences in when businesses file tax returns — some businesses remit monthly while others remit quarterly — and to a recent run of events that staff said boosted activity.
No formal action was taken on the financial report; committee members had no further questions after the briefing.
