FY2014 Recommended Budget - City of Surprise

Description
Local Bed Tax
FY2013 FY2014 $ %
Estimate Forecast Inc/(Dec) Inc/(Dec)
107,000 114,000 7,000 7%
The city currently imposes a 2.52% transient lodging tax. Of the total tax, 1.52% is to be recorded in the Tourism Fund to be used for
promoting tourism and 1.0% is to be recorded in the General Fund.
Actuals FY2008 FY2009 FY2010 FY 2011 FY2012
FY2013
Adopted
Revenue Collected
Forecast Assumptions
71,821 54,568 85,892 100,398 110,429 101,500
During FY2010 the City Council approved an increase in the bed tax rate from 1.52% to 2.52%. Prior to 2010 the bed tax collected was not
tracked seperately in the GL from the sales tax. The city expects the bed tax revenues to increase in accordance with an increase in transient
lodging revenues.
Forecast
FY2013
Estimate FY2014 FY2015 FY2016 FY2017 FY2018
Projected Revenue 107 107,000 000 114 114,000 000 118 118,200 200 123 123,200 200 133 133,000 000 144 144,300 300
Millions
$0.2
$0.1
$0.1
$0.1
$0.1
$0.1
$0.0
$0.0
$0.0
FY2008 FY2009 FY2010 FY 2011 FY2012 FY2013
Adopted
FY2013
Estimate
State Shared Income Tax
FY2013 FY2014 $ %
Estimate Forecast Inc/(Dec) Inc/(Dec)
12,003,000 13,111,000 1,108,000 9%
FY2014 FY2015 FY2016 FY2017 FY2018
Description
State shared revenues are distributed to cities and towns based generally on the population at the last census or special census. Included in
this category is the State Shared Income Tax. These revenues are recorded in the general fund.
FY2013
Actuals FY2008 FY2009 FY2010 FY 2011 FY2012 Adopted
Revenue Collected 12,055,475 13,080,276 11,395,938 8,591,077 9,918,521 12,003,000
Forecast Assumptions
The FY2013 and FY2014 forecasts are based on data from the League of Arizona Cities and Towns detailing actual income tax collection
from FY2011 and FY2012 respectively. State shared income tax is distributed based on population. The 2010 census completed in FY2011,
accounts for the increase in the city's share of state revenues. The 2010 census resulted in increased revenues beginning in FY2012 as the
city share of total population increased.
Forecast
FY2013
Estimate FY2014 FY2015 FY2016 FY2017 FY2018
Projected j Revenue 12,003,000 , , 13,111,000 , , 13,373,200 , , 13,640,700 , , 13,913,500 , , 14,191,800 , ,
Millions
$16.0
$14.0
$12.0
$10.0
$8.0
$6.0
$4.0
$2.0
$0.0
FY2008 FY2009 FY2010 FY 2011 FY2012
19
FY2013
Adopted
FY2013
Estimate
FY2014 FY2015 FY2016 FY2017 FY2018