HomeMy WebLinkAbout2020 01 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: February 24, 2020
TO: Ruth Pérez , Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax & License Manager
SUBJECT: January 2020 Sales Tax Distribution (November 2019
Activity)
Monthly comparisons (January)
January sales tax receipts (for November 2019 activity) were $2.30 million which is $48k (2.1%) above January 2020 and
$44k (1.9%) above the January 2020 budget.
Year‐to‐date comparisons (January)
2020 is currently $49k (2.2%) above 2019 and $45k (2.0%) over the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
Services – The services industry had several large transactions in January as well as several companies performing above
the anticipated and 2019 actuals. Currently the Service sector is 16.7% above budgeted figures and 20.9% above 2019
YTD.
Manufacturing – The manufacturing sector is currently significantly below budgeted (46.6%) and 2019 YTD(78.5%) figures.
The industry will likely continue to underperform through the next several months of 2020.
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.
$ diff % diff $ diff % diff
General Retail 567,819 629,217 648,986 683,146 674,498 669,591 4,906.74$ 0.7% (8,648.49)$ ‐1.4%
Construction 297,334 356,048 366,091 311,272 324,707 328,446 (3,739.46)$ ‐1.1% 13,434.80$ 3.8%
Services 405,236 435,680 499,228 515,472 606,721 519,751 86,969.97$ 16.7% 91,249.34$ 20.9%
Automotive/Gas 402,664 394,601 401,075 409,145 463,889 422,158 41,731.12$ 9.9% 54,743.44$ 13.9%
Manufacturing 174,190 111,398 148,763 171,958 84,479 158,179 (73,700.79)$ ‐46.6% (87,479.29)$ ‐78.5%
Wholesale 86,477 120,058 108,665 116,622 108,453 115,456 (7,003.19)$ ‐6.1% (8,169.29)$ ‐6.8%
Miscellaneous 44,809 45,820 45,141 53,070 46,536 50,756 (4,219.42)$ ‐8.3% (6,533.28)$ ‐14.3%
YTD Total 1,978,530 2,092,821 2,217,949 2,260,685 2,309,282 2,264,337 44,944.97$ 2.0% 48,597.23$ 2.2%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 28,629,801 28,659,932 (30,131.46)$ ‐0.1%311,220.38$ 1.2%
*Bolded figure in each sector is the highest YTD of the five years shown
2020 Actual/Budget2020 YTD
Budget
2020 ‐ 2019 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
ActualSector