preliminary fy 2011-12 city of glendale, az annual budget book

BUDGET SUMMARY
Revenues
Sales Tax
41%
Summary of General Fund
Revenue
(Excludes Street Funds)
Development Fees
2%
Property Tax
2%
Miscellaneous
11%
Court/Lic./Fees
6%
Franchise Fees
4%
State Shared
34%
City Sales Tax: City sales tax represents 40.7% of the GF revenue sources and is Glendale’s
largest source of revenue for FY 2012. The majority of sales tax revenues are derived from retail
businesses (approximately 51% of total city sales tax collections). Other major classes of sales
tax activity include transportation, communications and utilities, rental businesses and
restaurants and bars. The GF receives 1.2%
Thousands
City Sales Tax
10-Year Fiscal History
of the city’s 2.2% sales tax with the
remaining 1.0% designated for public safety
(0.5%) and transportation (0.5%).
$70,000
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
The city collected $63.3 million in city sales
tax revenue in FY 2007, the highest level of
receipts over a ten-year period. In FY 2008,
collections began declining with rapid
deterioration occuring over the summer and
fall of 2008. Since FY 2009, city sales tax
receipts have leveled off at the $50 million
level, which was last experienced in FY 2004.
$0
The estimate for FY 2011 is $50.5 million, or
'03 '04 '05 '06 '07 '08 '09 '10 '11 '12
almost even with the FY 2010 actuals. This
conservative estimate is based on the
assumption that the economy is still relatively weak due to the volatility of gas prices and other
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