HomeMy WebLinkAboutSales Tax Digest SummaryCALIFORNIA'S ECONOMIC OUTLOOK
For the 4th Quarter of 2011, overall California sales tax receipts increased by 8.0% over the same quarter
from the previous year, with Northern California reporting an 8.4% increase compared to 7.7% for
Southern California. Receipts for the City of Lake Elsinore changed by 11.6% over the same periods.
The state appears to be in a midst of a modest, drawn -out recovery. New -car dealerships sold 1.29
million new cars and trucks in 2011 - a 9.9% improvement over 2010. They should see an additional
8.5% growth in 2012. Though the construction, agriculture and food services industries have barely kept
pace with inflation, high - technology industries, the professional services sector and a robust global
demand for California's exports are primarily responsible for an economic growth rate that is now
keeping pace with the national rate.
Senior Economist, Jerry Nickelsburg from UCLA predicts that California's employment growth will be
1.4% for 2012 and 2.1% for 2013. The state labor market should continue to improve, with a projected
payroll growth of 1.2% for 2012 and 2.0% for 2013. Existing home sales were up in 2011 compared to
2010, but at the expense of falling prices. Though the state housing market is still struggling to regain
price stability, foreclosure rates for the 4th Quarter of 2011 dropped to the second - lowest level in more
than four years.
The worst may be over for California. We can expect slow and steady growth as we rebuild a healthy,
well - balanced economy.
LOCAL RESULTS
Local Collections
$1,742,848
Share of County Pool (2.82 %)
240,557
Share of State Pool (.14 %)
386
SBE Net Collections
1,983,791
Less: Amount Due County 0.0%
.00
Less: Cost of Administration
(18,623)
Net 4Q2011 Receipts
1,965,168
Net 4Q2010 Receipts
1,761,605
Actual Percentage Change
11.6%
Local Collections
$1,742,848
Less: Payments for Prior Periods
(160,619)
www,MuniServices.com (800) 800 -8181 Page 1
City of Lake Elsinore
Preliminary 4Q2011 Collections 1,582,229
Projected 4Q2011 Late Payments 60,720
Projected 4Q2011 Final Results 1,642,949
Actual 4Q2010 Results 1,595,026
Projected Percentage Change 3.0%
HISTORICAL CASH COLLECTIONS ANALYSIS BY QUARTER
II
III
v
\ h
w s.�
3Q2009 4Q2009 1Q2010 2Q2010 3Q2010 4Q2010 1Q2011 2Q2011 3Q2011 4Q2011
EMINet Receipts &=State & County Pool Receipts SBOE Admin Fees Due',
$20
S18
$16
$14
S12 w
q
$10
a
$8 b
$6
$4
$2
so
TOP 25 SALES /USE TAX CONTRIBUTORS
The following list identifies Lake Elsinore's Top 25 Sales /Use Tax contributors. The list is in alphabetical
order and represents sales from. The Top 25 Sales /Use Tax contributors generate 63.9% of Lake
Elsinore's total sales and use tax revenue.
ACS
LAKE ELSINORE FORD
ALBERTSON'S FOOD CENTERS
LOWE'S HOME IMPROVEMENT
ARCO AM /PM MINI MARTS
MAIN STREET SERVICE STATION
AUTOZONE
MCDONALD'S RESTAURANTS
BIG LOTS
MOBIL SERVICE STATIONS
CHEVRON SERVICE STATIONS
NIKE FACTORY STORE
CIRCLE K FOOD STORES
RITE AID DRUG STORES
COSTCO WHOLESALE
SHELL SERVICE STATIONS
DELTACO
STAPLES OFFICE SUPERSTORE
FERGUSON WATERWORKS
STATER BROS MARKETS
HOME DEPOT
TARGET STORES
LAKE BUICK PONTIAC GMC
WAL MART STORES
LAKE ELSINORE CHEVROLET
www.MuniServices.com (800) 804 -8181 Page 2
City of Lake Elsinore
HISTORICAL SALES TAX AMOUNTS
The following chart shows the sales tax level from sales through December 2011, the highs, and the lows
for each segment over the last two years.
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
Q�
(in thousands of $) aQzofi
*High
■Low
ANNUAL SALES TAX BY BUSINESS CATEGORY
(in thousandsof$)
4Q 2011
3Q 2011
2Q 2011
1Q2011
4 Q 2 0 1 0
3Q 2010
2Q 2010
1Q2010
4Q2004
3Q 2004
$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000
General Retall Rood Products Tranal >ortation Conatruction€sHuainessToBuameas Miscellaneous.,
www.MuniServices.com (800) 800 -8181 Page 3
$900
$800
$700
$600
$500
$400
$300
$200
$100
$o
(in thousands of $)
a a a a a a a a a a a a a a a a a a a a a
e} - N M V ..r N M 7 — N M V N N M V - N M 7
PER CAPITA BY BUSINESS SEGMENT
This chart shows sales tax per capita from business segments from January 2011 to December 2011.
Department Stores
Service Stations
Auto Sales -New
Restaurants
Apparel Stores
B Idg.M a tas -R etail
Food M arkela
Miscellaneous Retail
Bldg.M atls -W hale
Auto Parts /Repair
Drug Stores
Heavy Industry
Light Industry
ALL OTHERS
Per Capita by Business Segment
$o $5 $10 $15 $20 $25 $30
FINAL RESULTS: July- September 2011 Sales
Local Net Cash Collections
$1,736,573
Less: Pool Amounts
($156,357)
Less: Prior Quarter Payments
($80,115)
Add: Late Payments
$138,049
Local Net Economic Collections after Adjustments
$1,638,151
Percent Change from July- September 2010 Sales
UP BY 6.0%
MUNISERVICES' ON -GOING AUDIT RESULTS
This Quarter $45,743
Total to Date $495,171
www.MuniServices.com (800) 800 -8181 Page 5