HomeMy WebLinkAbout2019 10 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: November 12, 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: October 2019 Sales Tax Distribution (August 2019 Activity)
Monthly comparisons (October)
October sales tax receipts (for August 2019 activity) were $2.37 million which is $73k (2.9%) below October 2018 and $48k
(2%) below the October 2019 budget.
Year‐to‐date comparisons (October)
2019 is currently $265k (1.1%) below 2018 and $599k (2.6%) over the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
Construction – The construction industry has shown steady decline throughout 2019 and is currently $141k (4.2%) below
budget and below the 2018 figures by $595k (17.1%).
Services – The services industry saw a significant boost starting in August of 2019 due to large sale transactions and is
currently $133k (2.7%) above 2018 and $723k (14.1%) above budget.
Wholesale – The wholesale industry had several large transactions starting in May which has led to the industry performing
well above expected currently up $151k (12.4%) from budget and $42K (3.5%) 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.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 5,913,132 6,049,049 6,387,116 6,522,965 6,651,783 6,675,867 (24,083.71)$ ‐0.4% 128,817.73$ 2.0%
Construction 2,359,723 3,779,103 3,475,617 3,799,974 3,205,356 3,346,573 (141,217.07)$ ‐4.2% (594,618.74)$ ‐17.1%
Services 4,267,401 4,678,744 4,961,373 5,706,656 5,840,031 5,117,247 722,784.23$ 14.1% 133,375.54$ 2.7%
Automotive/Gas 3,807,998 4,008,906 3,992,885 4,269,672 4,310,629 4,281,821 28,807.87$ 0.7% 40,956.75$ 1.0%
Manufacturing 1,441,714 1,474,889 1,264,992 1,542,490 1,554,770 1,628,854 (74,084.17)$ ‐4.5% 12,279.75$ 1.0%
Wholesale 990,950 1,044,465 1,207,582 1,325,470 1,367,620 1,216,363 151,256.95$ 12.4% 42,149.72$ 3.5%
Miscellaneous 478,542 581,569 645,881 572,524 544,251 608,777 (64,525.69)$ ‐10.6% (28,273.40)$ ‐4.4%
YTD Total 19,259,460 21,616,724 21,935,446 23,739,752 23,474,440 22,875,501 598,938.41$ 2.6%(265,312.63)$ ‐1.1%
Annual total 23,439,266 26,353,233 26,331,634 26,331,634 28,283,007 27,684,069 598,938.41$ 2.2% 1,951,373.15$ 7.4%
*Bolded figure in each sector is the highest YTD of the five years shown
2019 Actual/Budget2019 YTD
Budget
2019 ‐ 2018 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
ActualSector