HomeMy WebLinkAbout2020 06 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: June 24, 2020
TO: Ruth Pérez , Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
FROM: Nate Malone, Tax & License Manager
SUBJECT: June 2020 Sales Tax Distribution (April 2020 Activity)
Monthly comparisons (June)
June sales tax receipts (for April 2020 activity) were $1.97 million which is $92k (4.5%) below June 2019 and $230k (10.5%)
below the June 2020 budget.
Year‐to‐date comparisons (June)
2020 is currently $870k (6.4%) below 2019 and $1.25m (9%) 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. 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.
Industries impacted most by COVID‐19:
Construction – Currently 20.8% vs 2019. July distribution should reflect an uptick in construction as they were
cleared to resume construction in May.
Automotive – Currently down 17.7% vs 2019 will likely see a similar figures in the following distribution and will
slowly ramp up through the year as business is allowed to resume.
Services‐ Currently up 6.9% from 2019 but has seen considerable decrease since the January distribution at which
time the industry was over 20% above prior year. This sector includes restaurants which are primarily operating
at limited capacity.
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 3,591,628 3,750,210 3,829,326 3,917,763 3,794,533 4,002,425 (207,892.03)$ ‐5.2% (123,230.06)$ ‐3.3%
Construction 1,967,245 2,062,986 2,240,082 1,950,817 1,521,398 2,052,423 (531,024.36)$ ‐25.9% (429,418.37)$ ‐20.8%
Services 2,760,723 2,818,105 3,296,992 3,136,976 3,331,442 3,320,981 10,461.18$ 0.3% 194,466.44$ 6.9%
Automotive/Gas 2,379,966 2,365,026 2,449,161 2,525,493 2,107,352 2,562,613 (455,261.08)$ ‐17.8% (418,140.93)$ ‐17.7%
Manufacturing 875,243 748,812 850,899 1,008,096 759,911 945,728 (185,817.53)$ ‐19.6% (248,185.56)$ ‐33.1%
Wholesale 615,655 736,136 665,326 693,989 867,845 707,488 160,357.77$ 22.7% 173,856.90$ 23.6%
Miscellaneous 293,828 359,420 338,264 320,871 301,996 345,026 (43,030.35)$ ‐12.5% (18,875.24)$ ‐5.3%
YTD Total 12,484,288 12,840,694 13,670,050 13,554,004 12,684,477 13,936,684 (1,252,206.40)$ ‐9.0% (869,526.82)$ ‐6.4%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 27,371,460 28,659,932 (1,288,471.89)$ ‐4.5% (947,120.06)$ ‐3.6%
*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