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&CH;H=?#IGGCNN?? -CHON?MȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚȚ*;HO;LS ǴǺț ǴDzdzǻ <br /> <br />rd <br />D. 2018 3 Quarter Sales Tax and Miscellaneous Revenue Report <br />Staff presented the 2018 Third Quarter Sales Tax and Miscellaneous Revenue Report, including <br />details on retail sales tax, gambling tax, and admissions tax revenues with sales tax broken out <br />by industry classifications. Sales tax collections increased $811K or 18% over the same period <br />last year. Construction related sales tax accounted for $26K while all other industries accounted <br />for an increase of $785K when compared to the same period in 2017. Sales tax collections through <br />the third quarter 2018 are $1.4 million, or 8%, more than the first three quarters of the prior year. <br />Actual sales tax collected in the third quarter was $364k greater than anticipated. An internal <br />cross-departmental team has been formed to evaluate sales tax issues, such as other cities <br />methodologies and if the shared zip code interferes with appropriate revenue. Chair McLeod <br />referenced the planned changes at Northgate and expressed hope that Tukwila would be able to <br />anticipate significant changes with regard to its retail landscape. DISCUSSION ONLY. <br /> <br />E. 2018 Finance Committee Work Plan <br />Committee members and staff discussed a preliminary work plan for the year ahead. <br />Committee members requested priority-based budgeting activity starting in the first quarter, <br />including an information update of the work ahead. Staff noted that the banking RFP will likely <br />move to 2020. Chair McLeod stated that he would like the Committee to discuss a philosophy <br />around funding human services. Councilmembers Seal and Quinn stated support for revisiting <br />overall financial policies and goals, and staff state that these could be addressed as part of the <br />financial health/sustainability model discussion item. <br /> <br />III. MISCELLANEOUS <br /> <br />Adjourned at 6:21 p.m. <br /> <br /> Committee Chair Approval <br />-CHON?M <S ,( <br />