Tax Commission

Joe Winnie

918-542-6609

Financial & Statistical Analysis

February 2004

Executive Summary

Total Income was higher than expected and Total Expense lower resulting in a Net Income higher than expected for the month of February 2004. Total Income exceeded budget projections by $10,684 or 102.5% while Total Expense was lower than forecast by $1,521 or 33.9%. This resulted in a Net Income $12,205 or 205.1% over budget projections.

Net Cash on deposit with First National Bank & Trust increased in February by $18,457.

Tag Office

Volume

The Tag Office processed 43 New Registrations, 71 Registration Renewals, 14 Penalty Assessments and 49 Other transactions comprised of renewal-by-mail fees, title fees, lien entry and others, for 177 transactions. That brought the totals from October 1, 2003 to February 29, 2004 to 197 New Registrations, 375 Registration Renewals, 70 Penalty Assessments and 247 Other transactions for 889 total transactions.

Budget forecasts for the same periods were 56 New Registrations, 95 Registration Renewals, 0 Penalty Assessments and 17 Other transactions for 168 total transactions for the month of February and 204 New Registrations, 399 Registration Renewals, 0 Penalty Assessments and 87 Other transactions for 690 total transactions from October 1, 2003 to February 29, 2004.

In February 2003, there were 51 New Registrations, 79 Registration Renewals, 0 Penalty Assessments and 11 Other transactions. The totals from October 1, 2002 to February 28, 2003 were 185 New Registrations, 363 Registration Renewals, 0 Penalty Assessments and 58 Other transactions.

The tables below summarize February by actual performance versus budget, February 2004 versus February 2003, year to date February 2004 versus year to date budget and year to date February 2004 versus year to February 2003.

Table 1-1; Performance by Transaction Type, Actual vs. Budget, February 2004

Table 1-2; Performance by Transaction Type, Actual vs. Budget, Fiscal Year to Date, October 1, 2003 – February 29, 2004

Table 1-3; Performance by Transaction Type, February 2004 vs. February 2003

Table 1-4; Performance by Transaction Type, Fiscal Year to Date, February 2004 vs. Fiscal Year to Date, February 2003

Income

Total Tag Office Income for the month of February was $2,182.24 or 24.04% lower than budgeted. An unfavorable price variance of $2,709.75 or (29.85%) was offset slightly by a favorable volume variance of $527.52 or 5.81% resulting in total a variance of ($2,182.24) or (24.04%). Table 1-5 summarizes the price variance and volume variance by transaction type.

Table 1-5; Variance Analysis by Transaction Type, February 2004

Income for February 2004 was up $997.00 or 16.9% when compared to January's Income. New Registrations, Registration Renewals, and Penalty Assessments showed increases, while Other transaction types were 36.4% lower. That pattern could indicate that tribal members were taking advantage of year-end promotions in January, having their liens filed the same month resulting in an increase in Other transactions and registering their vehicles thirty days later in February accounting for the increase in New Registration transactions. A similar pattern could occur in March if that is the case.

Seneca-Cayuga Tax Commission

The Seneca-Cayuga Tax Commission had 1,452 active vehicle registrations at the end of February. Current registrations were 1,246 or 85.8% and 206 or 14.2% were delinquent.

Staff

The Tax Commission currently employs one full time employee responsible for assessing, collecting and issuing receipts for taxes imposed by ordinance of the Business Committee and bringing actions on behalf of the Tribe in the Tribal Court for the collection of Tribal taxes, penalties and interest, and the enforcement of the Tribal tax laws. In addition, the employee is responsible for monitoring fees and recommending changes as necessary, registering and licensing entities wishing to conduct business within the Tribe's jurisdiction and recording, manageing and reporting the financial activities of the Tax Commission.

The staff also assists the Tribe's Secretary Treasurer by receiving, recording and depositing payments for property leases and utilities services.

The Tag Office processed 43 New Registrations, 71 Registration Renewals, 14 Penalty Assessments and 49 Other transactions comprised of processing, title, lien entry and other fees, for 177 transactions. That brought the totals from October 1, 2003 to February 29, 2004 to 197 New Registrations, 375 Registration Renewals, 70 Penalty Assessments and 247 Other transactions for 889 total transactions.

Budget forecasts for the same periods were 56 New Registrations, 95 Registration Renewals, 0 Penalty Assessments and 17 Other transactions for 168 total transactions for the month of February and 204 New Registrations, 399 Registration Renewals, 0 Penalty Assessments and 87 Other transactions for 690 total transactions from October 1, 2003 to February 29, 2004.

In February 2003, there were 51 New Registrations, 79 Registration Renewals, 0 Penalty Assessments and 11 Other transactions. The totals from October 1, 2002 to February 28, 2003 were 185 New Registrations, 363 Registration Renewals, 0 Penalty Assessments and 58 Other transactions.

The tables below summarize February by actual performance versus budget, February 2004 versus February 2003, year to date February 2004 versus year to date budget and year to date February 2004 versus year to February 2003.

Table 1-1; Performance by Transaction Type, Actual vs. Budget, February 2004

Table 1-2; Performance by Transaction Type, Actual vs. Budget, Fiscal Year to Date, October 1, 2003 – February 29, 2004

Table 1-3; Performance by Transaction Type, February 2004 vs. February 2003

Table 1-4; Performance by Transaction Type, Fiscal Year to Date, February 2004 vs. Fiscal Year to Date, February 2003

Income

Total Tag Office Income for the month of February was $2,182.24 or 24.04% lower than budgeted. An unfavorable price variance of $2,709.75 or (29.85%) was offset slightly by a favorable volume variance of $527.52 or 5.81% resulting in total a variance of ($2,182.24) or (24.04%). Table 1-5 summarizes the price variance and volume variance by transaction type.

Table 1-5; Variance Analysis by Transaction Type, February 2004

Income for February 2004 was up $997.00 or 16.9% when compared to January's Income. New Registrations, Registration Renewals, and Penalty Assessments showed increases, while Other transaction types were 36.4% lower. That pattern could indicate that tribal members were taking advantage of year-end promotions in January, having their liens filed the same month resulting in an increase in Other transactions and registering their vehicles thirty days later in February accounting for the increase in New Registration transactions. A similar pattern could occur in March if that is the case.

Year-to-date Income for the five month period ending February 29,2004 was $978.55 or 2.70% lower than expected when compared to the budget for the same period. This variance is within the standard 10% tolerance set by the Tax Commission for forecasts and will continue to be monitored. Income was up $2,684.50 or 8.23% for all transaction types combined, when compared to the same period for the previous fiscal year. New Registrations were up $1,775.00 or 13.55%, Penalty Assessments were up $1,057.00 or 100% and Other transactions were up $474.50 or 36.28% while Registration Renewals were down $622.00 or 3.41%