HomeMy WebLinkAbout2020 04 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: May 4, 2020
TO: Ruth Pérez , Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax & License Manager
SUBJECT: April 2020 Sales Tax Distribution (February 2020 Activity)
Monthly comparisons (April)
April sales tax receipts (for February 2020 activity) were $1.66 million which is $283k (14.5%) below April 2019 and $397k
(19.2%) below the April 2020 budget.
Year‐to‐date comparisons (April)
2020 is currently $90k (1%) below 2019 and $253k (2.8%) under the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
COVID‐19 will heavily influence the sales tax figures throughout 2020 and we will likely see a considerable drop in revenues
in the May distribution. There are three factors which are going to impact our sales tax distribution; first DOR is providing
extensions for monthly filers, second many stores and other retail locations have been required to be closed during the
governors stay at home order therefore little to no sales will be made during this time, and lastly some businesses will be
closing due to decreased revenues.
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.
$ diff % diff $ diff % diff
General Retail 2,399,618 2,498,163 2,614,442 2,600,241 2,677,518 2,684,842 (7,323.99)$ ‐0.3% 77,276.66$ 3.1%
Construction 1,177,224 1,346,295 1,382,591 1,328,362 1,129,569 1,307,746 (178,177.45)$ ‐13.6% (198,793.21)$ ‐14.8%
Services 1,750,170 1,812,097 2,222,537 2,185,479 2,366,854 2,192,806 174,048.09$ 7.9% 181,375.16$ 10.0%
Automotive/Gas 1,567,738 1,548,693 1,644,222 1,606,503 1,536,467 1,677,495 (141,028.23)$ ‐8.4% (70,035.42)$ ‐4.5%
Manufacturing 571,141 509,261 624,356 687,638 541,355 663,865 (122,510.28)$ ‐18.5% (146,283.74)$ ‐28.7%
Wholesale 389,357 454,437 465,368 413,232 483,788 449,120 34,668.66$ 7.7% 70,556.38$ 15.5%
Miscellaneous 187,428 214,214 212,304 210,075 205,527 220,578 (15,051.45)$ ‐6.8% (4,548.26)$ ‐2.1%
YTD Total 8,042,674 8,383,159 9,165,821 9,031,530 8,941,077 9,196,452 (255,374.66)$ ‐2.8% (90,452.42)$ ‐1.0%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 28,340,313 28,659,932 (319,619.06)$ ‐1.1%21,732.78$ 0.1%
*Bolded figure in each sector is the highest YTD of the five years shown
2020 Actual/Budget2020 YTD
Budget
2020 ‐ 2019 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
ActualSector