HomeMy WebLinkAbout2018-12 SALES TAX REPORT GENERALADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE:
TO:
CC:
FROM:
SUBJECT:
January 14th, 2018
Ed Prince, Council President
Members of Renton City Council
Denis Law, Mayor
Robert Harrison, Chief Administrative Officer
Nate Malone, Tax & License Program Manager
December 2018 Sales Tax Distribution (October 2018
Activity)
Monthly comparisons (December)
November sales tax receipts (for October 2018 activity) were $2.3 million which is $255k (12%) above December 2017 and
$52k (2%) above the December 2018 budget.
Year‐to‐date comparisons (December)
2018 is currently $2.1 million (8 %) above 2017 and $1.7 million (6.5%) 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 $1.8 million (40%) of construction receipts appear to be related to current large projects. The industry as
a whole is up $340k (8%) over 2017 and $752k (20%) over budget.
Services – The services sector is up $971k (17%) over 2017 and $1.1 million (18%) over the annualized budget.
Wholesale – The wholesale sector is up $165k (12%) over 2017 and $131k (9%) over the annualized budget.
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 6,717,460 7,113,256 6,708,369 7,711,534 7,755,414 8,005,622 (250,208)$ ‐3.1% 43,880 0.6%
Construction 2,316,188 3,019,042 4,291,980 4,246,126 4,585,841 3,833,546 752,295$ 19.6% 339,715 8.0%
Services 4,576,039 5,145,373 5,198,540 5,884,292 6,855,309 5,787,593 1,067,717$ 18.4% 971,017 16.5%
Automotive/Gas 4,104,744 4,597,151 4,436,145 4,775,263 5,118,532 4,977,023 141,509$ 2.8% 343,269 7.2%
Manufacturing 2,039,205 1,799,316 1,629,598 1,550,359 1,849,806 1,926,565 (76,759)$ ‐4.0% 299,447 19.3%
Wholesale 1,157,750 1,198,961 1,243,568 1,405,676 1,571,217 1,440,334 130,883$ 9.1% 165,541 11.8%
Miscellaneous 590,685 566,166 641,343 758,384 692,516 712,757 (20,241)$ ‐2.8% ‐65,868 ‐8.7%
YTD Total 21,502,070 23,439,266 24,149,544 26,331,634 28,428,635 26,683,440 1,745,195 6.5% 2,097,001 8.0%
Annual total 21,502,070 23,439,266 26,353,233 26,331,634 28,428,635 26,683,440 1,745,195 6.5% 2,097,001 8.0%
*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