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Home My WebLink AboutFS 2010-04-06 Item 2B - Report - January 2010 Sales Tax Revenue ReportTO: FROM: Shawn Hunstock, Finance Director DATE: March 31, 2010 SUBJECT: Sales Tax Revenue for January 2010 Schedule I City of Tukwila INFORMATIONAL MEMORANDUM Mayor Haggerton Finance and Safety Committee in 1,000's Sales Receipt 2009 2010 2010 Increase /(Decrease) %Increase /(Decrease) Month Month Actual Estimated Actual Month YTD Month YTD Jan Mar 1,172 1,483 1,036 (447) (447) 30.14% 0.00% Feb Apr 1,051 1,462 (1,462) (1,909) 100.00% 64.82% Mar May 1,146 1,705 (1,705) (3,614) 100.00% 77.72% Apr June 1,191 1,578 (1,578) (5,192) 100.00% 83.37% May July 1,082 1,603 (1,603) (6,795) 100.00% 86.77% June Aug 1,217 1,812 (1,812) (8,607) 100.00% 89.26% July Sept 1,473 1,793 (1,793) (10,400) 100.00% 90.94% Aug Oct 1,118 1,656 (1,656) (12,056) 100.00% 92.09% Sept Nov 1,110 1,682 (1,682) (13,738) 100.00% 92.99% Oct Dec 1,032 1,556 (1,556) (15,294) 100.00% 93.66% Nov Jan11 1,140 1,631 (1,631) (16,925) 100.00% 94.23% Dec Feb11 1,690 2,270 (2,270) (19,195) 100.00% 94.88% Totals 14,422 20,231 1,036 Mitigation Received 312 1,348 90.90% of Budget Incl. Mitigation Jim Haggerton, Mayor Sales tax collections showed the seventeenth consecutive decrease in January compared to the same period in the prior year. For January, collections were less than both budget and the same month in the prior year. Actual receipts for January were $447,000 less than budget, and $136,000 less than the same period last year. We are down 30.14% for the month compared to budget, and 11.64% compared to the same period last year. The chart above also includes the mitigation payment we received at the end of March, which is actually for the fourth quarter of 2009 but is included in 2010 revenue because it will be received so far after the end of the year. Including the mitigation payment, we are currently at 90.90% of budget for the year to date. The mitigation payment we will receive on March 31s' will be $311,653.10. This the same amount as the last mitigation payment received on December 31S because the payments are now annualized and will only be adjusted once per year in the fall. Schedule II shows the year -to -date sales tax from the top ten industry classifications. As this schedule indicates, the trend is flat or down for most of the classifications. INFORMATIONAL MEMO Page 2 Schedule II Group 423* 452* 448* 722* 443* 441* 451* 444* 453* 517 Mitigated NAICS Code Schedule III Name Wholesale Trade, Durable Goods General Merchandise Stores Clothing and Accessories Food Services, Drinking Places Electronics and Appliances Motor Vehicle and Parts Dealer Sporting Goods, Hobby, Books Building Material and Garden Miscellaneous Store Retailers Telecommunications Group Name 238 Specialty Trade Contractors 236 Construction of Buildings 441* Motor Vehicle and Parts Dealer 453* Miscellaneous Store Retailers 721* Accommodation 532 Rental and Leasing Services 443* Electronics and Appliances 442* Furniture and Home Furnishings 451* Sporting Goods, Hobby, Books 452* General Merchandise Stores Mitigated NAICS Code YTD Current 156,125 128,004 120,791 116,390 68,754 49,738 40,760 35,582 35,174 34,678 YTD Current 12,255 34,407 49,738 35,174 30,787 21,242 68,754 28,130 40,760 128,004 YTD Prior 156,793 136,403 122,233 102,459 78,402 72,948 43,963 34,636 48,794 28,005 Dollar Diff. Diff. (668) 0.43% (8,399) 6.16% (1,442) -1.18% 13,931 13.60% (9,648) -12.31% (23,210) 31.82% (3,203) 7.29% 946 2.73% (13,620) -27.91% 6,673 23.83% As you can see there are large variances from last year for the same time period. For instance, sales tax for Motor Vehicle and Parts Dealer is down by 31.82 and Miscellaneous Store Retailers is down by 27.91%. As you can see from Schedule II, seven of the top ten merchant categories have declined versus prior year, and all but one of the ten industry classification codes are ones for which we receive streamlined sales tax mitigation. Schedule Ill shows the ten largest declines in sales tax revenue for industries with over $10,000 collected in January. Attached is a Sales Tax Summary comparing year -to -date 2010 vs. 2009 by major NAICS codes. Also included is a comparison of total receipts year -to -date for the last five years. Please let me know if you have any comments or questions. Thank you. W:1FIN Projects\Sales Tax Information\Sales Tax Files from Shawn1201011nfo Memo Sales Tax 033010.docx YTD Dollar Prior Diff. Diff. 30,959 (18,703) -60.41% 83,683 (49,276) 58.88% 72,948 (23,210) 31.82% 48,794 (13,620) 27.91% 39,891 (9,104) 22.82% 24,502 (3,260) -13.31% 78,402 (9,648) -12.31% 30,630 (2,500) 8.16% 43,963 (3,203) 7.29% 136,403 (8,399) 6.16% NAICS CONSTRUCTION 09 TOTAL 236 Construction of Buildings 416,992 237 Heavy Civil Construction 98,105 238 Specialty Trade Contractors 347,910 TOTAL CONSTRUCTION 863,006 Overall Construction Change from Previous Year MANUFACTURING 09 TOTAL 311 Food Manufacturing 1,173 312 Beverage Tobacco Products 3,070 313 Textile Mills 259 314 Textile Product Mills 12,852 315 Apparel Manufacturing 59 316 Leather Allied Products 7 321* Wood Product Manufacturing 2,701 322* Paper Manufacturing 20,392 323* Printing Related Support 59,298 324 Petroleum Coal Products 8,157 325 Chemical Manufacturing 6,368 326 Plastic Rubber Products 3,928 327* Nonmetallic Mineral Products 2,279 331 Primary Metal Manufacturing 534 332 Fabricated Metal Mfg Products 3,789 333 Machinery Manufacturing 5,586 334' Computer Electronic Products 19,797 335 Electric Equipment Appliances 137 336 Transportation Equipment Mfg 135,430 337' Fumiture Related Products 8,575 339' Miscellaneous Manufacturing 10,665 TOTAL MANUFACTURING 305,059 Overall Manufacturing Change from Previous Year TRANSPORTATION WAREHOUSING 09 TOTAL 481 Air Transportation 0 482 Rail Transportation 924 484 Truck Transportation 3,294 485 Transit and Ground Passengers 11,105 488 Transportation Support 21,879 491 Postal Services 0 492 Couriers Messengers 149 I 493' Warehousing Storage 1,051 TOTAL TRANSP WHSING 38,401 Overall Transportation Change from Previous Year WHOLESALE TRADE 423' WhIs Trade Durable Goods 424' WhIs Trade Nondurable Goods 425' Wholesale Electronic Markets Sales Tax Mitigation NAICS Codes 03/30/2010 09 TOTAL 1,339,565 105,260 2,208 WHOLESALE TRADE TOTAL 1,447,033 Overall Wholesale Change from Previous Year SALES TAX SUMMARY January 2010 (Received in March) YTD 09 YTD 10 YTD Diff 83,683 34,407 -58.9% 1,124 666 -40.8% 30,959 12,255 -60.4% 115,765 47,328 ($68,437) -59.1% YTD 09 YTD 10 YTD Diff 354 65 -81.5% 161 -4,585 2940.3% 2 0 100.0% 502 991 97.5% 30 0 -98.4% 0 0 #DIV /O! 619 45 -92.7% 1,661 1,576 -5.1% 6,137 4,151 -32.4% 510 505 -1.0% 354 367 3.7% 137 51 -62.8% 418 409 -2.1% 0 15 #DIV/0! 80 608 659.9% 271 156 -42.6% 47 114 144.5% 13 35 174.1% 10,248 4,841 -52.8% 551 555 0.6% 1,147 1,128 -1.6% 23,241 11,028 ($12,214) -52.6% YTD 09 YTD 10 YTD Diff 0 0 0.0% 134 26 -80.6% 129 5 -96.2% 557 835 50.0% 1,873 1,152 -38.5% 0 0 #DIV /0! 20 29 45.1% 70 74 5.0% I 2,783 2,120 ($662) -23.8% YTD 09 YTD 10 YTD Diff 156,793 156,125 -0.4% 9,568 7,082 -26.0% 165 93 -43.3% 166,526 163,300 ($3,226) -1.9% NAICS AUTOMOTIVE 09 TOTAL 441* Motor Vehicle Pads Dealer 686,478 447' Gasoline Stations 62,584 TOTAL AUTOMOTIVE 749,063 Overall Automotive Change from Previous Year NAICS 442' 443* 444* 445* 446* 448" 451" 452' 453* 454* RETAIL TRADE Furniture Home Furnishings Electronics &Appliances Building Material Garden Food Beverage Stores Health Personal Care Clothing Accessories Sporting Goods, Hobby, Books General Merchandise Stores Miscellaneous Store Retailers Nonstore Retailers TOTAL RETAIL TRADE 09 TOTAL 350,625 954,375 506,177 86,349 189,603 2,015,184 589,522 2,044,042 506,005 209,564 7,451,446 Overall General Retail Change from Previous Year 09 TOTAL 51X 528,044 52X 53,850 53X 412,907 541 227,255 551 985 56X 123,115 611 47,324 62X 91,637 71X 93,799 72X' 1,745,512 81X 183,887 92X 32,268 3,540,583 Overall Services Change from Previous Year MISCELLANEOUS 09 TOTAL 000 Unknown 397 111 -115 Agriculture, Forestry, Fishing 221 211 -221 Mining Utilities 14,549 999 Unclassifiable Establishments 12,331 MISCELLANEOUS TOTAL 27,499 Overall Miscellaneous Change from Previous Year Page 1 SERVICES Information Finance Insurance Real Estate, Rental, Leasing Professional, Scientific, Tech Company Management Admin, Supp, Remed Svcs Educational Services Health Care Social Assistance Arts Entertainment Accommodation Food Svcs Other Services Public Administration TOTAL SERVICES 09 TOTAL GRAND TOTALS $14,422,090 Grand Total Change from Previous Year YTD 09YTD 10YTD %Diff 72,948 49,738 -31.8% I 4,542 4,986 9.8% 1 77,490 54,724 ($22,766) -29.4% 09 YTD 10 YTD Diff 30,630 28,130 -8.2% I 78,402 68,754 -12.3% 34,636 35,582 2.7% 6,107 6,326 3.6% 11,200 13,653 21.9% 122,233 120,791 -1.2% 43,963 40,760 -7.3% I 136,403 128,004 -6.2% 1 48,794 35,174 -27.9% 1 6,408 7,234 12.9% 1 518,776 484,407 ($34,368) -6.6% YTD 09 YTD 10 YTD Diff 34,933 41,929 20.0% 2,267 1,941 -14.3% 27,649 23,116 -16.4% 16,343 16,116 -1.4% 14 11 -17.8% 15,876 8,440 -46.8% 1,431 4,305 200.9% 9,299 3,242 -65.1% -556 6,757 -1315.6% 142,349 147,177 3.4% 14,214 14,449 1.7% 321 2,133 564.0% 264,140 269,616 $5,477 2.1% YTD 09 YTD 10 YTD Diff 397 0 100.0% 0 15 #DIV /0! 524 436 -16.9% 2,446 2,665 8.9% 3,367 3,115 (6252) -7.5% YTD 09 YTD 10 YTD Dlff 51,172,088 $1,035,639 ($136,449) 11.64% Toe Sales Tax Rp1 201001xism Five Year Comparison Taxes Collected Year to Date