HomeMy WebLinkAbout2021 10 SALES TAX REPORT GENERAL ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: November 9, 2021
TO: Randy Corman, Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Ed VanValey, Chief Administrative Officer
FROM: Nate Malone, Budget & Accounting Manager
SUBJECT: October 2021 Sales Tax Distribution (August 2021 Activity)
Monthly comparisons (October)
October sales tax receipts (for August 2021 activity) were $2.8 million which is $641k (29.6%) over October 2020 and
$489k (21.1%) over the October 2021 budget.
Year-to-date comparisons (October)
2021 is currently 4.9 million (22.8%) above 2020 and 4.5 million (20.2%) over the annualized budget. See the five-year-
to-date comparison and the historical trend information below:
COVID-19 will continue to influence the sales tax figures throughout 2020 – 2021 due to declines in 2020. 2021 has shown
significant improvement across nearly all categories nearly all at or exceeding pre pandemic levels with the exception of
manufacturing and construction which can be heavily influenced by large projects.
• General Retail – currently up 17.8% from 2020. All sectors within general retail are performing well above 2020
including miscellaneous retail trade up 38.8% from 2020.
• Automotive – currently up 45% from 2020. Demand for cars has bounced back from last year, and this sector has
seen significant inflation driving prices higher.
• Services – currently up 17.7% from 2020. This sector performing well above anticipated levels and has far
exceeded pre pandemic figures by substantial margins up nearly 12% from 2019.
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.
2021 YTD $ diff % diff $ diff % diff
General Retail 6,387,116 6,522,965 6,651,783 6,727,340 7,923,968 6,415,996 1,507,972.18$ 23.5%1,196,628.59$ 17.8%
Construction 3,475,617 3,799,974 3,205,356 2,501,183 3,232,556 3,325,473 (92,917.48)$ -2.8%731,373.00$ 29.2%
Services 4,961,373 5,706,656 5,840,031 5,548,952 6,531,277 5,306,242 1,225,035.14$ 23.1%982,324.63$ 17.7%
Automotive/Gas 3,992,885 4,269,672 4,310,629 3,900,084 5,655,093 4,063,719 1,591,374.64$ 39.2%1,755,009.22$ 45.0%
Manufacturing 1,264,992 1,542,490 1,554,770 1,249,963 1,306,907 1,406,101 (99,193.15)$ -7.1%56,944.62$ 4.6%
Wholesale 1,207,582 1,325,470 1,367,620 1,396,701 1,374,163 1,258,238 115,925.19$ 9.2%(22,538.22)$ -1.6%
Miscellaneous 645,881 572,524 544,251 558,088 839,526 575,827 263,698.78$ 45.8%281,437.22$ 50.4%
YTD Total 21,935,446 23,739,752 23,474,440 21,882,311 26,863,490 22,351,595 4,511,895.30$ 20.2%4,981,179.07$ 22.8%
Annual total 26,331,634 28,428,635 28,318,580 26,452,836 29,584,664 26,959,932 2,624,731.84$ 9.7%3,131,827.36$ 11.8%
*Bolded figure in each sector is the highest YTD of the five years shown
Sector 2021 Actual/Budget2021 YTD
Budget
2021 - 2020 YTD2017 YTD
Actual
2018 YTD
Actual
2019 YTD
Actual
2020 YTD
Actual