HomeMy WebLinkAboutA200 NC Sales Tax Update 3rd Qtr 2012 (Finance)CITY OF NATIONAL CITY, CALIFORNIA
COUNCIL AGENDA STATEMENT
MEETING DATE: February 19, 2013
AGENDA ITEM NO.
ITEM TITLE:
National City Sales Tax Update — Third Quarter 2012
PREPARED BY: Mark Roberts, Director of Finance
PHONE: 619-336-4265
EXPLANATION:
DEPARTMENT: Finance�Administrative Services
APPROVED BY:
BACKGROUND
National City has an on -going contract with Hinderliter, de Llamas & Associates (HdL) for revenue management. Staff meets
with a representative of HdL on a quarterly basis to review sales tax data and trends within the City and Statewide.
NEWSLETTER SUMMARY
Receipts for National City's third quarter sales were 21.9% higher than the same quarter one year ago. However payment
anomalies inflated the results. Actual sales activity was up 12.4% after factoring out the aberrations. Autos and transportation,
general consumer goods, restaurants, and grocery stores posted higher receipts. The city's transactions tax generated an
additional $2,264,410, a 0.2% decrease compared to the same quarter last year. After adjusted for aberrations, all of San
Diego County was up 5.7% over the comparable time period; while Southern California region as a whole was up 6.7%.
The attached Newsletter provides additional detail on the economic front. This newsletter is also available on the City's
website.
FINANCIAL STATEMENT: APPROVED: WAN4_,..eginance
ACCOUNT NO. APPROVED: MIS
N/A
ENVIRONMENTAL REVIEW:
N/A
ORDINANCE: INTRODUCTION:
FINAL ADOPTION:
STAFF RECOMMENDATION:
Accept and file the newsletter
BOARD / COMMISSION RECOMMENDATION:
N/A
ATTACHMENTS:
National City Sales Tax Update Newsletter — Third Quarter 2012.