HomeMy WebLinkAbout2018-06 SALES TAX REPORT GENERALADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: July 12th, 2018
TO: Ed Prince, Council President
Members of Renton City Council
CC: Denis Law, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax Auditor
SUBJECT:June 2018 Sales Tax Distribution (April 2018 Activity)
Monthly comparisons (June)
June sales tax receipts (for April 2018 activity) were $2 million which is $77k (4%) below June 2017 and $53k (3%)
below the June 2018 budget.
Year-to-date comparisons (June)
2018 is currently $829k (7%) above 2017 and $752k (6%) over the annualized budget. See the five-year-to-date
comparison and the historical trend information below:
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.
Construction – The construction industry sales tax revenues are heavily influenced by large projects currently ongoing.
Approximately $792k (35%) of construction receipts appear to be related to current large projects. The industry as a whole
is up $177k (9%) over 2017 and $511k (30%) over budget.
Services – The services sector is up $479k (17%) over 2017 and $394k (14%) over the annualized budget. The service
industry appears to be influenced by the healthcare industry and their increasing presence in Renton.
Wholesale – The wholesale sector has continued to be down. Currently $70K (10%) below 2017 and $16K (2%) below
budget.
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 3,252,454 3,466,859 3,011,181 3,750,210 3,829,326 3,914,352 (85,026)$ -2.2%79,115 2.1%
Construction 991,398 1,294,181 1,616,412 2,062,986 2,240,082 1,728,223 511,859$ 29.6%177,096 8.6%
Services 2,191,194 2,419,079 2,265,021 2,818,105 3,296,992 2,902,729 394,263$ 13.6%478,888 17.0%
Automotive/Gas 1,964,025 2,160,978 1,970,381 2,365,026 2,449,161 2,408,924 40,237$ 1.7%84,135 3.6%
Manufacturing 1,028,454 901,475 749,644 748,812 850,899 945,014 (94,114)$ -10.0%102,088 13.6%
Wholesale 517,530 568,904 505,036 736,136 665,326 680,969 (15,644)$ -2.3%-70,810 -9.6%
Miscellaneous 291,711 287,206 239,212 359,420 338,264 337,918 346$ 0.1%-21,156 -5.9%
YTD Total 10,236,767 11,098,682 10,356,888 12,840,694 13,670,050 12,918,130 751,920 5.8%829,356 6.5%
Annual total 21,502,070 23,439,266 26,353,233 26,331,634 27,435,360 26,683,440 751,920 2.8%1,103,726 4.2%
*Bolded figure in each sector is the highest YTD of the five years shown
2018 Actual/Budget2018 YTD
Budget
2018 - 2017 YTD2014 YTD
Actual
2016 YTD
Actual
2017 YTD
Actual
2018 YTD
ActualSector