HomeMy WebLinkAbout2019 08 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: September 12, 2019
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: August 2019 Sales Tax Distribution (June 2019 Activity)
Monthly comparisons (August)
August sales tax receipts (for June 2019 activity) were $2.83 million which is $259k (10%) above August 2018 and $357k
(14.5%) above the August 2019 budget.
Year‐to‐date comparisons (August)
2019 is currently $100k (0.5%) above 2018 and $626k (3.5%) over the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
Construction – The construction industry remains above the budget by $6k (0.2%) but again has fallen below the 2018
figures by $386k (13.6%). The industry continues to trend downwards compared to prior years.
Automotive/Gas – The Automotive/Gas industry has rebounded from the early 2019 drop and is now above budget and
2018 activity by $51k (1.5%) and $42k (1.3%) respectively.
Wholesale – The wholesale industry had several large transactions contributing to a large increase currently up $114k
(11.9%) of budget and $86k (8.5%) compared to 2018.
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.
Please see the attached pages for detailed information.
2015 YTD
Actual $ diff % diff $ diff % diff
General Retail 4,681,060 4,817,366 5,077,816 5,160,892 5,265,649 5,295,742 (30,093.53)$ ‐0.6% 104,756.97$ 2.1%
Construction 1,784,455 2,869,498 2,828,855 3,001,576 2,615,637 2,609,185 6,451.77$ 0.2% (385,939.95)$ ‐13.6%
Services 3,396,374 3,722,345 3,901,077 4,476,311 4,600,383 4,096,348 504,035.32$ 12.3% 124,072.28$ 3.2%
Automotive/Gas 2,954,996 3,175,412 3,168,239 3,375,697 3,417,715 3,366,818 50,896.36$ 1.5% 42,018.27$ 1.3%
Manufacturing 1,166,196 1,200,893 1,001,529 1,177,338 1,316,769 1,302,712 14,056.92$ 1.1% 139,430.98$ 13.9%
Wholesale 780,454 839,555 1,002,949 989,807 1,075,403 961,066 114,336.69$ 11.9% 85,595.77$ 8.5%
Miscellaneous 380,384 401,392 518,428 447,958 438,055 471,424 (33,368.85)$ ‐7.1% (9,902.62)$ ‐1.9%
YTD Total 15,143,919 17,026,461 17,498,892 18,629,578 18,729,610 18,103,295 626,314.67$ 3.5% 100,031.70$ 0.5%
Annual total 23,439,266 26,353,233 26,331,634 26,331,634 28,310,384 27,684,069 626,314.67$ 2.3% 1,978,749.41$ 7.5%
*Bolded figure in each sector is the highest YTD of the five years shown
2019 Actual/Budget2019 YTD
Budget
2019 ‐ 2018 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
ActualSector