HomeMy WebLinkAbout2022 08 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: September 28, 2022
TO: Ryan McIrvin, Council President
Members of Renton City Council
CC: Armondo Pavone, Mayor
Ed VanValey, Chief Administrative Officer
FROM: Fred Hall, Tax & Licensing Manager
SUBJECT: August 2022 Sales Tax Distribution (June 2022 Activity)
Monthly comparisons (August)
August sales tax receipts (for June 2022 activity) were $3.3 million which is $278K (9.4%) over August 2021 and $446K
(15.9%) over the August 2022 budget.
Year-to-date comparisons (August)
2022 is currently $3.2 million (15%) above 2021 and $4.5 million (23%) over the annualized budget. See the five-year-to-
date comparison and the historical trend information below:
Year-to-year comparison between 2021 and 2022 will be impacted by COVID-19. 2022 has shown a continuous and
stabilizing growth across all categories and all exceeding pre pandemic levels.
• Manufacturing – the manufacturing sector is up $497K (49%) over 2021 and $342K (29%) over budget.
• Services – currently up 18.9% from 2021.
• Wholesale – currently up 67.1% from 2021.
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 4,182,666 4,549,613 5,269,389 6,335,713 6,706,849 5,734,200 972,649.16$ 17.0%371,136.18$ 5.9%
Construction 2,351,822 2,278,670 2,007,561 2,454,225 2,525,202 2,730,273 (205,070.83)$ -7.5%70,976.87$ 2.9%
Services 3,192,103 3,672,262 4,415,498 5,150,763 6,122,022 4,768,520 1,353,502.45$ 28.4%971,259.13$ 18.9%
Automotive/Gas 2,791,024 2,981,522 3,006,571 4,489,186 4,983,200 3,692,595 1,290,604.61$ 35.0%494,014.06$ 11.0%
Manufacturing 1,023,797 1,170,034 1,014,011 1,013,424 1,510,501 1,168,241 342,259.34$ 29.3%497,076.58$ 49.1%
Wholesale 706,342 859,888 1,153,346 1,001,580 1,673,746 1,104,788 568,957.57$ 51.5%672,166.05$ 67.1%
Miscellaneous 340,431 384,901 412,466 653,215 732,983 522,481 210,502.03$ 40.3%79,767.89$ 12.2%
YTD Total 14,588,184 15,896,890 17,278,842 21,098,105 24,254,502 19,721,097 4,533,404.34$ 23.0%3,156,396.77$ 15.0%
Annual total 28,428,635 28,318,580 26,452,836 32,660,033 34,609,834 30,076,430 4,533,404.34$ 15.1%1,949,800.95$ 6.0%
*Bolded figure in each sector is the highest YTD of the five years shown
2022 Actual/Budget2022 YTD Budget 2022 - 2021 YTD2018 YTD
Actual
2019 YTD
Actual
2020 YTD
Actual
2021 YTD
Actual
2022 YTD
ActualSector