HomeMy WebLinkAbout2020 11 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: December 21, 2020
TO: Ruth Pérez , Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Ed VanValey, Interim Chief Administrative Officer
FROM: Nate Malone, Tax & License Manager
SUBJECT: November 2020 Sales Tax Distribution (September 2020
Activity)
Monthly comparisons (November)
November sales tax receipts (for September 2020 activity) were $2.33 million which is $92k (3.8%) below November 2019
and $202k (8%) below the November 2020 budget.
Year‐to‐date comparisons (November)
2020 is currently 1.68M (6.5%) below 2019 and $2m (7.8%) 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. 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 17.8% vs 2019. Has improved as construction projects have resumed however the initial
work stoppage and continuing of lack of construction spending has decreased the activity significantly.
Automotive – Currently down 10.8% vs 2019 has improved from being down nearly 20% early in the pandemic
but will likely continue to be impacted by economic downturn and reduced spending.
Services‐ Currently down 7.3% from 2019 and 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 which can be further impacted by other restrictions.
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 6,708,369 7,063,086 7,158,534 7,343,471 7,470,491 7,510,810 (40,318.74)$ ‐0.5% 127,020.30$ 1.8%
Construction 4,291,980 3,898,385 4,220,068 3,494,632 2,802,728 4,016,996 (1,214,268.04)$ ‐30.2% (691,904.42)$ ‐17.8%
Services 5,198,540 5,482,587 6,296,598 6,512,229 6,110,508 6,070,646 39,861.97$ 0.7% (401,721.29)$ ‐7.3%
Automotive/Gas 4,436,145 4,400,839 4,707,647 4,792,584 4,318,751 4,865,860 (547,108.66)$ ‐11.2% (473,832.75)$ ‐10.8%
Manufacturing 1,629,598 1,424,293 1,672,467 1,659,685 1,351,946 1,720,970 (369,023.41)$ ‐21.4% (307,738.19)$ ‐21.6%
Wholesale 1,243,568 1,310,021 1,449,615 1,507,947 1,528,693 1,425,128 103,565.14$ 7.3% 20,746.31$ 1.6%
Miscellaneous 641,343 704,160 620,522 595,293 638,447 664,583 (26,136.18)$ ‐3.9% 43,153.85$ 6.1%
YTD Total 24,149,544 24,283,370 26,125,452 25,905,840 24,221,564 26,274,992 (2,053,427.93)$ ‐7.8% (1,684,276.19)$ ‐6.5%
Annual total 26,353,233 26,331,634 28,428,635 28,318,580 26,553,344 28,659,932 (2,106,587.59)$ ‐7.4% (1,765,235.75)$ ‐6.7%
*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