HomeMy WebLinkAbout2020 05 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: May 22, 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: May 2020 Sales Tax Distribution (March 2020 Activity)
Monthly comparisons (May)
May sales tax receipts (for March 2020 activity) were $1.77million which is $687k (27.9%) below May 2019 and $767k
(30.2%) below the May 2020 budget.
Year‐to‐date comparisons (May)
2020 is currently $777k (6.7%) below 2019 and $1.02m (8.7%) under the annualized budget. See the five‐year‐to‐date
comparison and the historical trend information below:
COVID‐19 will heavily influence the sales tax figures throughout 2020 and we will likely see a considerable drop in revenues
starting with May distribution. There are three factors which are going to impact our sales tax distribution; first DOR is
providing extensions for monthly filers, second many stores and other retail locations have been required to be closed
during the governors stay at home order therefore little to no sales will be made during this time, and lastly some
businesses will be closing due to decreased revenues.
Industries impacted most by COVID‐19:
Construction – Currently down 15.9% vs 2019 and will likely to continue to be down in the following distribution.
July distribution should reflect an uptick in construction as they were cleared to resume construction in May.
Automotive – Currently down 20.1% vs 2019 will likely see a similar decrease in the following distribution and will
slowly ramp up through the year as business is allowed to resume.
Services‐ Currently up 0.8% from 2019 but has seen considerable decrease since the January distribution at which
time the industry was over 20% above prior year. This sector includes restaurants which are primarily operating
at limited capacity.
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 3,011,181 3,152,579 3,252,163 3,279,351 3,264,002 3,368,710 (104,707.87)$ ‐3.1% (15,348.36)$ ‐0.5%
Construction 1,616,412 1,747,742 1,897,845 1,630,126 1,351,828 1,715,349 (363,520.94)$ ‐21.2% (278,298.30)$ ‐15.9%
Services 2,265,021 2,351,275 2,815,920 2,784,954 2,804,157 2,795,785 8,372.60$ 0.3% 19,203.73$ 0.8%
Automotive/Gas 1,970,381 1,975,629 2,084,522 2,086,091 1,690,008 2,138,726 (448,717.59)$ ‐21.0% (396,082.37)$ ‐20.1%
Manufacturing 749,644 642,159 778,761 886,389 638,188 852,033 (213,844.71)$ ‐25.1% (248,200.90)$ ‐38.7%
Wholesale 505,036 579,336 558,755 560,189 716,142 578,102 138,039.75$ 23.9% 155,953.26$ 26.9%
Miscellaneous 239,212 316,419 284,333 266,393 251,830 289,609 (37,778.54)$ ‐13.0% (14,563.09)$ ‐4.6%
YTD Total 10,356,888 10,765,139 11,672,299 11,493,492 10,716,156 11,738,314 (1,022,157.31)$ ‐8.7% (777,336.04)$ ‐6.7%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 27,596,257 28,659,932 (1,063,674.61)$ ‐3.7% (722,322.78)$ ‐2.7%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2020 Actual/Budget2020 YTD
Budget
2020 ‐ 2019 YTD2016 YTD
Actual
2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
Actual