HomeMy WebLinkAbout2018-09 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: October 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: September 2018 Sales Tax Distribution (July 2018 Activity)
Monthly comparisons (September)
September sales tax receipts (for July 2018 activity) were $2.67 million which is $509k (23%) above September 2017 and
$435k (19%) above the September 2018 budget.
Year‐to‐date comparisons (September)
2018 is currently $1.6 million (8.3%) above 2017 and $1.6 million (8.3%) 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 $1.4 million (40%) of construction receipts appear to be related to current large projects. The industry as
a whole is up $320k (10%) over 2017 and $695k (25%) over budget.
Services – The services sector is up $715k (16%) over 2017 and $834k (19%) over the annualized budget. The service
industry is experiencing substantial increases in the following categories: Food services & drinking places, Administrative
& support services, Ambulatory medical/healthcare services, and Hospitals. These increases have more than compensated
for the significant drop in Telecommunications services in 2018.
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 4,934,565 5,292,860 4,817,366 5,728,168 5,857,225 5,929,026 (71,801)$ ‐1.2% 129,056 2.3%
Construction 1,609,946 2,071,656 2,869,498 3,105,429 3,425,069 2,730,215 694,854$ 25.5% 319,640 10.3%
Services 3,402,227 3,849,009 3,722,345 4,428,524 5,143,829 4,309,850 833,979$ 19.4% 715,305 16.2%
Automotive/Gas 3,018,476 3,383,156 3,175,412 3,578,016 3,802,135 3,701,449 100,686$ 2.7% 224,119 6.3%
Manufacturing 1,581,958 1,327,010 1,200,893 1,146,161 1,395,739 1,426,689 (30,949)$ ‐2.2% 249,578 21.8%
Wholesale 853,505 890,964 839,555 1,093,619 1,176,216 1,053,179 123,037$ 11.7% 82,597 7.6%
Miscellaneous 447,898 429,855 401,392 581,740 501,149 522,978 (21,830)$ ‐4.2% ‐80,591 ‐13.9%
YTD Total 15,848,576 17,244,510 17,026,461 19,661,658 21,301,362 19,673,387 1,627,975 8.3% 1,639,704 8.3%
Annual total 21,502,070 23,439,266 26,353,233 26,331,634 28,311,415 26,683,440 1,627,975 6.1% 1,979,781 7.5%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2018 Actual/Budget2018 YTD
Budget
2018 ‐ 2017 YTD2014 YTD
Actual
2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual