HomeMy WebLinkAbout2019 01 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: February 25th, 2018
TO: Don Persson, Council President
Members of Renton City Council
CC: Denis Law, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax & License Program Manager
SUBJECT: January 2019 Sales Tax Distribution (November 2018
Activity)
Monthly comparisons (January)
January sales tax receipts (for November 2018 activity) were $2.26 million which is $42k (1.9%) above January 2018 and
$88k (4.1%) above the January 2019 budget.
Year‐to‐date comparisons (January)
2019 is currently $42k (1.9%) above 2018 and $88k (4.1%) 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 diminishing
the revenues as several large projects have been completed. Currently the industry is down 15% from 2018 and may
continue to be impacted throughout the year.
Manufacturing – The manufacturing industry is up $23k over 2018 (20.8%) and $21k over budget (13.8%).
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 575,147 567,819 629,217 648,986 683,146 652,024 31,122$ 4.8% 34,160 5.4%
Construction 191,976 297,334 356,048 366,091 311,272 311,105 167$ 0.1% ‐54,819 ‐15.4%
Services 364,561 405,236 435,680 499,228 515,472 484,346 31,126$ 6.4% 16,244 3.7%
Automotive/Gas 349,695 402,664 394,601 401,075 409,145 411,160 (2,014)$ ‐0.5% 8,070 2.1%
Manufacturing 127,033 174,190 111,398 148,763 171,958 151,122 20,836$ 13.8% 23,195 20.8%
Wholesale 103,449 86,477 120,058 108,665 116,622 112,425 4,197$ 3.7% 7,957 6.6%
Miscellaneous 46,470 44,809 45,820 45,141 53,070 50,224 2,846$ 5.7% 7,928 17.3%
YTD Total 1,758,332 1,978,530 2,092,821 2,217,949 2,260,685 2,172,405 88,280 4.1% 42,736 1.9%
Annual total 23,439,266 26,353,233 26,331,634 26,331,634 27,772,349 27,684,069 88,280 0.3% 1,440,715 5.5%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2019 Actual/Budget2019 YTD
Budget
2019 ‐ 2018 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual