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October 2016 Revenue

November 7, 2016

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 October 2016 (which is actually September's revenue collected in the month of October).

October 2016 Sales Tax Revenue:

With the limited duration sales tax increase:

$2,179,120.14
-69,363.20
$2,109,756.94
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

Without the limited duration sales tax increase:

$1,681,660.95
-59,213.63
$1,622,447.32
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

 

October 2015 (with the sales tax increase):

$2,014,459.01
-71,414.81
$1,943,044.20
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

October 2015 (without the sales tax increase)

$1,535,565.13
-61,490.98
$1,474,074.15
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

There was a 6.64% increase in gross tax receipts totaling $133,740.21. Excluding the limited duration sales tax collected, there was a 7.92% increase in gross tax receipts totaling $121,658.26.

There was a 8.58% increase in net taxes of $166,712.74. Without the sales tax increase, we reflect a 10.07% increase in net taxes of $148,373.16.

This month, the sales tax increase generated an additional $497,459.19. Thus far, the sales tax increase has generated an additional $31,324,519.68 and in that same time period, the City of Prattville has paid $32,160,306.44 toward our debt service. A Debt Service Reserve account has been established and is being funded with the proceeds from the sales tax increase.

The Lodging Fee Revenue for the month was $26,572.50.

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

Character Trait for April

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Acknowledging that achievement results from others' investment in life.

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