HomeMy WebLinkAbout2018-11 SALES TAX REPORT GENERAL
ADMINISTRATIVE SERVICES
M E M O R A N D U M
DATE: December 10th, 2018
TO: Ed Prince, Council President
Members of Renton City Council
CC: Denis Law, Mayor
Robert Harrison, Chief Administrative Officer
FROM: Nate Malone, Tax Auditor
SUBJECT: November 2018 Sales Tax Distribution (September 2018
Activity)
Monthly comparisons (November)
November sales tax receipts (for September 2018 activity) were $2.38 million which is $38k (2%) above November 2017
and $41k (2%) below the November 2018 budget.
Year-to-date comparisons (November)
2018 is currently $1.8 million (7.6%) above 2017 and $1.7 million (6.9%) over the annualized budget. See the five-year-
to-date comparison and the historical trend information below:
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.
Construction – The construction industry sales tax revenues are heavily influenced by large projects currently ongoing.
Approximately $1.5 million (40%) of construction receipts appear to be related to current large projects. The industry as
a whole is up $321k (8%) over 2017 and $712k (20%) over budget.
Services – The services sector is up $814k (15%) over 2017 and $990k (19%) over the annualized budget.
Wholesale – The wholesale sector is up $139k (10%) over 2017 and $151k (12%) over the annualized budget.
Please see the attached pages for detailed information.
2015 YTDActual $ diff % diff $ diff % diff
General Retail 6,169,128 6,547,677 6,049,049 7,063,086 7,158,534 7,357,147 (198,612)$ -2.7%95,449 1.4%
Construction 2,090,362 2,718,274 3,779,103 3,898,385 4,220,068 3,507,177 712,891$ 20.3%321,683 8.3%
Services 4,201,906 4,722,364 4,678,744 5,482,587 6,296,598 5,306,094 990,504$ 18.7%814,012 14.9%
Automotive/Gas 3,769,955 4,221,573 4,008,906 4,400,839 4,707,647 4,586,387 121,260$ 2.6%306,807 7.0%
Manufacturing 1,828,938 1,592,607 1,474,889 1,424,293 1,672,467 1,724,271 (51,804)$ -3.0%248,175 17.4%
Wholesale 1,062,383 1,095,938 1,044,465 1,310,021 1,449,615 1,298,440 151,175$ 11.6%139,594 10.7%
Miscellaneous 547,815 519,781 581,569 704,160 620,522 653,375 (32,853)$ -5.0%-83,638 -11.9%
YTD Total 19,670,488 21,418,214 21,616,724 24,283,370 26,125,452 24,432,892 1,692,560 6.9%1,842,082 7.6%
Annual total 21,502,070 23,439,266 26,353,233 26,331,634 28,376,000 26,683,440 1,692,560 6.3%2,044,366 7.8%
*Bolded figure in each sector is the highest YTD of the five years shown
2018 Actual/Budget2018 YTD
Budget
2018 - 2017 YTD2014 YTD
Actual
2016 YTD
Actual
2017 YTD
Actual
2018 YTD
ActualSector