February 2015 Revenue

March 10, 2015

At the second City Council meeting each month, Finance Director Doug Moseley delivers a written and verbal recount of the City's financial status. These are the preliminary revenue figures for February 2015 (which is actually January's revenue collected in the month of February).

February 2015 Sales Tax Revenue:

With the limited duration sales tax increase:

$1,840,619.99
-55,983.71
$1,786,636.28
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

Without the limited duration sales tax increase:

$1,429,935.31
-48,766.65
$1,381,168.66
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

 

February 2014 (with the sales tax increase):

$1,693,376.28
-56,754.07
$1,636,622.21
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

February 2014 (without the sales tax increase)

$1,308,741.23
-50,388.28
$1,258,352.95
Sales Tax collected
Rebates (economic development incentives)
Net Sales Tax

There was an 8.70% increase in gross tax receipts totaling $147,243.71. Excluding the limited duration sales tax collected, there was a 9.26% increase in gross tax receipts totaling $121,194.07.

There was a 9.04% increase in net taxes of $148,014.07. Without the sales tax increase, we reflect a 9.76% increase in net taxes of $122,815.70.

This month, the sales tax increase generated an additional $410,684.68. Thus far, the sales tax increase has generated an additional $21,244,505.02 and in that same time period, the City of Prattville has paid $22,405,306.44 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 of February was $23,896.50.

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

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