HomeMy WebLinkAbout2019 07 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: August 13, 2019
TO: Don Persson, Council President
Members of Renton City Council
CC: Denis Law, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax & License Program Manager
SUBJECT: July 2019 Sales Tax Distribution (May 2019 Activity)
Monthly comparisons (July)
July sales tax receipts (for May 2019 activity) were $2.34 million which is $42k (1.8%) below July 2018 and $97k (4.2%)
above the July 2019 budget.
Year‐to‐date comparisons (July)
2019 is currently $158k (1%) below 2018 and $269k (1.7%) over the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
Construction – The construction industry remains above the budget by $76k (3.5%) but again has fallen below the 2018
figures by $317k (13%). The industry appears to be trending downwards compared to prior years.
Manufacturing – The manufacturing industry is currently above budget and 2018 activity by $56k (3.3%) and $124k (14%)
respectively.
Wholesale – The wholesale industry had several large transactions contributing to a large increase currently up $63k (7.9%)
of budget and $79k (9.4%) compared to 2018.
The annual budget‐by‐sector has been based upon the average of the previous five years proportionate to the overall
receipts. The monthly budget‐by‐sector is based upon the five‐year average by month, proportionate to the annual totals.
Please see the attached pages for detailed information.