HomeMy WebLinkAbout2020 08 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: September 1, 2020
TO: Ruth Pérez , Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
FROM: Nate Malone, Tax & License Manager
SUBJECT: August 2020 Sales Tax Distribution (June 2020 Activity)
Monthly comparisons (August)
August sales tax receipts (for June 2020 activity) were $2.46 million which is $368k (13%) below August 2019 and $87k
(3.4%) below the August 2020 budget.
Year‐to‐date comparisons (August)
2020 is currently 1.45M (7.8%) below 2019 and $1.55m (8.3%) 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 21.5% vs 2019. Should continue to slowly increase as more and more projects resume
through summer months.
Automotive – Currently down 13% vs 2019. The industry has seen a ramp up as restrictions have been lifted but
reduction during closed months and decreased buying power will likely continue to impact this industry
throughout 2020.
Services‐ Currently up 4.7% 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 4,817,366 5,077,816 5,160,892 5,265,649 5,269,386 5,393,022 (123,635.91)$ ‐2.3% 3,737.14$ 0.1%
Construction 2,869,498 2,828,855 3,001,576 2,615,637 2,007,561 2,825,633 (818,071.86)$ ‐29.0% (608,075.09)$ ‐21.5%
Services 3,722,345 3,901,077 4,476,311 4,600,383 4,415,496 4,395,788 19,707.77$ 0.4% (184,887.27)$ ‐4.7%
Automotive/Gas 3,175,412 3,168,239 3,375,697 3,417,715 3,006,571 3,471,006 (464,435.67)$ ‐13.4% (411,144.13)$ ‐13.0%
Manufacturing 1,200,893 1,001,529 1,177,338 1,316,769 1,014,011 1,264,571 (250,560.06)$ ‐19.8% (302,757.60)$ ‐30.2%
Wholesale 839,555 1,002,949 989,807 1,075,403 1,153,345 1,011,223 142,122.22$ 14.1% 77,942.42$ 7.8%
Miscellaneous 401,392 518,428 447,958 438,055 412,472 471,560 (59,087.69)$ ‐12.5% (25,582.62)$ ‐4.9%
YTD Total 17,026,461 17,498,892 18,629,578 18,729,610 17,278,842 18,832,804 (1,553,961.19)$ ‐8.3% (1,450,767.16)$ ‐7.8%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 27,085,763 28,659,932 (1,574,169.35)$ ‐5.5% (1,232,817.51)$ ‐4.7%
*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