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Home My WebLink AboutFS 2010-08-17 Item 2F - Report - Sales Tax Revenue for May 2010TO: Mitigation Received City of Tukwila INFORMATIONAL MEMORANDUM Mayor Haggerton Finance and Safety Committee FROM: Shawn Hunstock, Finance Director DATE: August 3, 2010 SUBJECT: Sales Tax Revenue for May 2010 Schedule I 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 1,006 (456) (903) 31.19% 30.66% Mar May 1,146 1,705 1,157 (548) (1,451) 32.14% 31.20% Apr June 1,191 1,578 1,070 (508) (1,959) 32.19% -31 45% May July 1,082 1,603 1,067 (536) (2,495) 33.44% 31.86% June Aug 1,217 1,812 (1,812) (4,307) 100.00% 44.66% July Sept 1,473 1,793 (1,793) (6,100) 100.00% 53.34% Aug Oct 1,118 1,656 (1,656) (7,756) 100.00% -59 24% Sept Nov 1,110 1,682 (1,682) (9,438) 100.00% -63 88% Oct Dec 1,032 1,556 (1,556) (10,994) 100.00% 67.32% Nov Jan11 1,140 1,631 (1,631) (12,625) 100.00% 70.29% Dec Feb11 1,690 2,270 (2,270) (14,895) 100.00% 73.62% Totals 14,422 20,231 5,336 623 5,959 76.10% of Budget Incl. Mitigation Jim Haggerton, Mayor in 1,000's Sales tax collections for May showed the fourth decrease this year through five months of collections. For May, collections were less than both budget and the same month in the prior year. Actual receipts for May were $536,000 less than budget, and $15,000 less than the same period last year. We are down 33.44% for the month compared to budget, and down by 1.39% compared to the same month last year. We are now down 31.86% for the year compared to budget, and down by 5.42% compared to the same period last year. The chart above also includes the mitigation payment we received at the end of June. Including the mitigation payments, we are currently at 76.10% of budget for the year to date. The latest mitigation payment we received was on June 30, 2010 and was for $311,098.16. This was the same amount as the last mitigation payment received on March 31 because the payments are now annualized and will only be adjusted once per year in the fall. The next mitigation payment will be received on September 30 Staff completed work on the last mitigation detail file and submitted to the Department of Revenue a list of firms that should be removed from the mitigation calculation process. These firms are ones that were offsetting other losses, thereby reducing our mitigation payment. 105 106 INFORMATIONAL MEMO Page 2 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. Schedule 1I Group Name 452* General Merchandise Stores 448* Clothing and Accessories 722* Food Services, Drinking Places 423* Wholesale Trade, Durable Goods 443* Electronics and Appliances 441* Motor Vehicle and Parts Dealer 451* Sporting Goods, Hobby, Books 444* Building Material and Garden 453* Miscellaneous Store Retailers 721* Accommodation Mitigated NAICS Code 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 18.02 and Miscellaneous Store Retailers is down by 17.13 As you can see from Schedule II, eight of the top ten merchant categories have declined versus prior year, and all of the ten industry classification codes are ones for which we receive streamlined sales tax mitigation. Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000 collected year -to -date. Schedule 1I1 Group Name 238 Specialty Trade Contractors 236 Construction of Buildings 445* Food and Beverage Stores 621 Ambulatory Health Care Service 561 Administrative and Support Svc 323* Printing and Related Support 336 Transportation Equipment Man 441* Motor Vehicle and Parts Dealer 453* Miscellaneous Store Retailers 812 Personal and Laundry Services Mitigated NAICS Code YTD YTD Dollar Current Prior Diff. Diff. 721,750 723,908 (2,159) -0.30% 707,999 716,788 (8,789) -1.23% 542,980 519,781 23,199 4.46% 502,843 528,242 (25,398) 4.81% 348,029 368,163 (20,134) -5.47% 257,311 313,883 (56, 572) 18.02% 234,301 214,663 19,638 9.15% 201,418 201,500 (82) 0.04% 179,646 216,785 (37,138) 17.13% 173,952 187,984 (14,031) -7.46% YTD YTD Dollar Current Prior Diff. Diff. 90,352 179,002 (88,650) 49.52% 170,985 277,318 (106,333) 38.34% 23,395 34,993 (11,598) 33.14% 17,540 24,808 (7,268) 29.30% 42,065 56,403 (14,338) 25.42% 19,361 25,934 (6,573) 25.35% 50,901 62,117 (11,216) 18.06% 257,311 313,883 (56,572) 18.02% 179,646 216,785 (37,138) 17.13% 31,893 38,299 (6,406) 16.73% 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:IFIN Projects\Sales Tax Information\Sales Tax Files from Shawn120101Info Memo Sales Tax 072610.docx NAILS 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 311 Food Manufacturing 312 Beverage Tobacco Products 313 Textile Mills 314 Textile Product Mills 315 Apparel Manufacturing 316 Leather Allied Products 321' Wood Product Manufacturing 322* Paper Manufacturing 323" Printing Related Support 324 Petroleum Coal Products 325 Chemical Manufactunng 326 Plastic Rubber Products 327" Nonmetallic Mineral Products 331 Pnmary Metal Manufacturing 332 Fabricated Metal Mfg Products 333 Machinery Manufacturing 334* Computer Electronic Products 335 Electric Equipment Appliances 336 Transportation Equipment Mfg_ 337' Fumiture Related Products 339' Miscellaneous Manufactunng TOTAL MANUFACTURING 481 482 484 485 488 491 492 I 493' TRANSPORTATION WAREHOUSING Air Transportation Rail Transportation Truck Transportation Transltand Ground Passengers Transportation Support Postal Services Couners Messengers 149 Warehousing Storage 1,051 TOTAL TRANSP WHSING 38,401 Overall Transportation Change from Previous Year WHOLESALE TRADE 09 TOTAL 423' Whls Trade Durable Goods 1,339,565 424' Whls Trade Nondurable Goods 105,260 425' Wholesale Electronic Markets 2,208 WHOLESALE TRADE TOTAL 1,447,033 Overall Wholesale Change from Previous Year Sales Tax Mitigation NAILS Codes DS /03/2010 09 TOTAL 1,173 3,070 259 12,852 59 7 2,701 20,392 59,298 8,157 6,368 3,928 2,279 534 3,789 5,586 19,797 137 135,430 8,575 10,665 305,059 Overall Manufacturing Change from Previous Year 09 TOTAL 0 924 3,294 11,105 21,879 0 09 YTD 277,318 21,086 179,002 477,406 09 YTD 613 1,126 117 4,892 35 4 1,694 8,059 25,934 2,395 2,584 972 1,028 1,132 1,633 9,177 62 62.117 3,513 4,960 132,055 09 YTD 0 641 340 4,345 9,552 0 29 500 15,407 09 YTD 528,242 44,970 665 573,877 10 YTD 170,985 8,272 90,352 269,609 (6207,797) 10 YTD 387 -3,088 401 8,962 19,361 773 2,851 1,260 426 134 3,105 6,737 2,024 91 50,901 4,149 4.435 110,035 ($22,020) YTD Diff -36.9% -374.1 9 -92.0% 7,116 45.5% 1 -95.7% 1 -64.5% -76.3% 11.2% -25.3 -67.7 10.3% 29.5% -58,6% 1637.8% 174.4% 312.5% -77.9 47.0% -18.1 16.1 -10.6% 10 YTD 198 62 8,675 7,391 151 417 16,895 51,488 10 YTD 502,843 38,930 884 542,658 ($31,219) SALES TAX SUMMARY May 2010 (Received in July) YTD Diff -38.3% -60.8 -49.5% YTD Diff 0 0.0% -69.1 -81.7 99.7% -22.6 0 #DIV /0! 421.3 -16.6 YTD Diff -4.8% -13.4% 33.0% -43.5% -16.7% 9.7% -5.4% NAICS I 441" 1 447' NAICS RETAIL TRADE 09 TOTAL 442' Furniture Home Fumishinqs 350,625 443' Electronics Appliances 954,375 444' Building Material Garden 506,177 445" Food Beverage Stores 86,349 446" Health Personal Care 189,603 448* Clothing Accessories 2,015,184 451* Sporting Goods, Hobby, Books 589,522 452" General Merchandise Stores 2,044,042 453" Miscellaneous Store Retailers 506,005 454' Nonstore Retailers 209,564 TOTAL RETAIL TRADE 7,451,446 Overall General Retail Change from Previous Year 51X Information 52X Finance Insurance 53X Real Estate, Rental, Leasing 541 Professional, Scientific, Tech 551 Company Management 56X Admin, Supp, Remed Svcs 611 Educational Services 62X Health Cam Social Assistance 71X Arts Entertainment 72X' Accommodation Food Svcs 81X Other Services 92X Public Administration TOTAL SERVICES 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 AUTOMOTIVE Motor Vehicle Pads Dealer Gasoline Stations TOTAL AUTOMOTIVE SERVICES 09 TOTAL 686,478 62,584 749,063 Overall Automotive Change from Previous Year 09 TOTAL 528,044 53,850 412,907 227,255 985 123,115 47,324 91,637 93,799 1,745,512 183,887 32,268 3,540,583 Overall Services Change from Previous Year 09 TOTAL GRAND TOTALS $14,422,090 Grand Total Change from Previous Year YTD 09 YTD 10 YTD Diff 313,883 257,311 -18.0% 24,307 25,622 5.4% 338,190 282,933 ($55,257) -16.3% 09 YTD 10 YTD Diff 144,280 145,688 1.0% 368,163 348,029 -5.5% 201,500 201,418 0.0% 34,993 23,395 -33.1% 72,937 68,489 -6.1 716,788 707,999 -1.2% 214,663 234,301 9.1% 723,908 721.750 -0.3% 216,785 179,646 -17.1% 32,890 39.078 18.8% 2,726,907 2,669,793 ($57,114) -2.1% YTD 09YTD 10YTD %Diff 219,021 223,855 2.2% 15,358 18,380 19.7% 135,358 138,081 2.0% 73,119 63,126 -13.7% 389 179 -54.0% 59,380 43,792 -26.3% 11,376 24,683 117.0% 33,421 27,434 -17.9% 33,017 38,000 15.1% 707,765 716,932 1.3% 74,073 73,805 -0.4% 8,303 9,108 9.7% 1,370,581 1,377,374 $6,793 0.5% YTD 09 YTD 10 YTD Diff 397 1 -99.7% 76 149 96.0% 4,760 5,261 10.5% 2,847 60,458 2023.2% 8,081 65,869 $57,786 715.1% YTD 09 YTD 10 YTD Diff $5,642,504 $5,335,167 (6307,337) -5.45% TUK Salcs lox Rpt 201005xism 108 2010 2009 L 2 2008 2007 2006 1 Five Year Comparison $2,000,000 $4,000,000 Taxes Collected Year to Date $6,000,000 $8,000,000