Author photo

By Drew Lawson
The Times 

City releases first quarter financial report

 

Last updated 5/20/2021 at 1:41pm



DAVENPORT – The city maintained its revenue and expenditures plan in the first quarter to remain in the black, according to the financial report released and discussed at the finance committee’s May 12 meeting.

The committee, which consists of councilmembers Nathan Hansen, Lance Strite and Theresa Telford, was left with only one question.

Strite inquired about the property tax revenue, which has been $2,055 so far…just 0.8% of the budgeted $265,000 for the year. City clerk Dave Leath explained that typically property taxes start rolling in heavily in May and November, so those inflated months wouldn’t be reflected in the first quarter report.

The property tax revenue was the lowest its been for a first quarter since 2018 ($1,423). Last year, $7,615 in property tax revenue came in the first quarter.

The city has already received $104,514 of a budgeted $300,000 in retail sales tax revenue and $61,560 of a budgeted $60,000 in public safety sales tax. Utility tax is holding the expected number, with $53,162 received of a budgeted $204,000 for the year.

Sales tax revenue was much higher than the first quarter in 2020 ($75,215). Public safety tax revenue and utility tax revenue were about $3,000 higher than last year, each.

In other taxes and fees, the city received $7,384 of a budgeted $34,000 yearly total in the fuel tax for the street fund, and $5,155 of a budgeted $15,000 for the year in real estate excise taxes for the general capital improvement fund.

Fuel tax revenue was down from last year’s first quarter ($7,384), but real estate excise tax revenue was up from last year at this time ($4,024).

$1,262 in hotel/motel tax was received out of a yearly budget of $4,000. That was higher than last year, which was just $900 at this time.

$102,113 in water, $108,648 in sewer and $83,237 in garbage fees were received. The yearly budget is $430,000 for water, $405,000 for sewer and $310,000 for garbage. All three revenue sources brought in more than last year’s first quarter.

Total, the city received $910,472 in revenue in the first quarter, 36% of the yearly budget of $2,500,875.

The city spent just 14% of its yearly budget for expenditures, spending $448,625 from the yearly budget of $3,429,078.

$128,645 of the year’s budget of $1,275,150 was spent from the current expense fund, which includes legislative and executive, finance and facilities, law enforcement, fire, animal control, aging and adult services, planning, building and park/pool expenses.

$5,926 of a yearly budget of $32,628 was spent on the library. $4,417 of a budgeted $70,100 was spent on the cemetery, while $32,336 of a budgeted $364,300 was spent from the street fund. $9,054 of a yearly budget of $101,200 was spent on the airport.

$87,744 was spent on water. $106,955 was spent on sewer, and $73,549 was spent on garbage. The yearly budget for those revenue sources is $492,000 for water, $551,700 for sewer and $362,000 for garbage.

A full copy of the city’s first quarter financial report can be obtained through a records request at city hall.

Author Bio

Drew Lawson, Editor

Author photo

Drew Lawson is the editor of the Davenport Times. He is a graduate of Eastern Washington University.

 

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