HomeMy WebLinkAbout2021 01 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: February 12, 2021
TO: Randy Corman, Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Ed VanValey, Interim Chief Administrative Officer
FROM: Nate Malone, Tax & License Manager
SUBJECT: January 2021 Sales Tax Distribution (November 2020
Activity)
Monthly comparisons (January)
January sales tax receipts (for November 2020 activity) were $2.3 million which is $8k (0.4%) below January 2020 and
$287k (14.3%) above the January 2021 budget.
Year‐to‐date comparisons (January): Not applicable for January distribution.
COVID‐19 will continue to influence the sales tax figures throughout 2021. There are three factors which are going to
impact our sales tax distribution; first DOR is providing extensions for some filers, second many stores and other retail
locations have been required to be closed or operating at minimal capacity, and lastly some businesses will be closing
permanently due to decreased revenues. However, we are seeing some industries recover, General Retail which is up
15.8% from January 2020 distribution.
Industries impacted most by COVID‐19:
Construction – Currently down 33.1%. Was improving over the late summer/fall months as projects resumed but
has seen a significant decrease in the current distribution.
Automotive – Currently down 4% has improved from being down nearly 20% early in the pandemic but will likely
continue to be impacted by economic downturn and reduced spending as well as supply chain and production
decreases.
Services‐ Currently down 4.3%. This sector includes restaurants which are primarily operating at limited capacity
which can be further impacted by other restrictions.
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.
2021 YTD
$ diff % diff $ diff % diff
General Retail 629,217 648,986 683,146 674,498 781,228 590,381 190,846.36$ 32.3% 106,730.09$ 15.8%
Construction 356,048 366,091 311,272 324,707 217,087 305,072 (87,984.88)$ ‐28.8% (107,619.78)$ ‐33.1%
Services 435,680 499,228 515,472 606,721 580,490 466,492 113,997.68$ 24.4% (26,231.42)$ ‐4.3%
Automotive/Gas 394,601 401,075 409,145 463,889 445,463 381,719 63,743.82$ 16.7% (18,425.68)$ ‐4.0%
Manufacturing 111,398 148,763 171,958 84,479 101,406 127,300 (25,893.91)$ ‐20.3% 16,927.86$ 20.0%
Wholesale 120,058 108,665 116,622 108,453 106,756 99,564 7,191.95$ 7.2% (1,697.51)$ ‐1.6%
Miscellaneous 45,820 45,141 53,070 46,536 68,481 43,376 25,105.03$ 57.9% 21,944.64$ 47.2%
YTD Total 2,092,821 2,217,949 2,260,685 2,309,282 2,300,911 2,013,904 287,006.07$ 14.3%(8,371.80)$ ‐0.4%
Annual total 26,331,634 28,428,635 28,318,580 26,452,836 25,208,704 24,959,932 248,772.05$ 1.0%(1,244,132.42)$ ‐4.7%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2021 Actual/Budget2021 YTD
Budget
2021 ‐ 2020 YTD2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
Actual