HomeMy WebLinkAbout2018-07 SALES TAX REPORT GENERAL
ADMINISTRATIVE 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: July 2018 Sales Tax Distribution (May 2018 Activity)
Monthly comparisons (July)
July sales tax receipts (for May 2018 activity) were $2.4 million which is $149k (6%) above July 2017 and $245k (11%)
above the July 2018 budget.
Year-to-date comparisons (July)
2018 is currently $978k (6.5%) above 2017 and $997k (6.6%) 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 $997k (38%) of construction receipts appear to be related to current large projects. The industry as a whole
is up $182k (8%) over 2017 and $576k (29%) over budget.
Services – The services sector is up $527k (16%) over 2017 and $495k (15%) over the annualized budget. The service
industry appears to be influenced by the healthcare industry and their increasing presence in Renton as well as a
substantial uptick in the restaurant/food services industry.
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 3,792,234 4,059,742 3,591,628 4,384,543 4,477,062 4,564,044 (86,981)$ -1.9%92,520 2.1%
Construction 1,167,354 1,497,447 1,967,245 2,413,711 2,595,496 2,019,298 576,198$ 28.5%181,785 7.5%
Services 2,560,726 2,823,323 2,760,723 3,311,024 3,838,744 3,343,518 495,226$ 14.8%527,720 15.9%
Automotive/Gas 2,307,070 2,556,135 2,379,966 2,777,927 2,925,929 2,837,868 88,061$ 3.1%148,002 5.3%
Manufacturing 1,167,145 1,033,442 875,243 889,563 1,045,621 1,099,417 (53,797)$ -4.9%156,058 17.5%
Wholesale 630,450 667,697 615,655 844,538 780,600 792,940 (12,340)$ -1.6%-63,938 -7.6%
Miscellaneous 343,718 327,844 293,828 455,866 392,262 401,588 (9,326)$ -2.3%-63,604 -14.0%
YTD Total 11,968,696 12,965,630 12,484,288 15,077,171 16,055,715 15,058,673 997,042 6.6%978,543 6.5%
Annual total 21,502,070 23,439,266 26,353,233 26,331,634 27,680,482 26,683,440 997,042 3.7%1,348,848 5.1%
*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