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HomeMy WebLinkAboutFS 2014-03-18 Item 2E - Report - 2013 4th Quarter Sales Tax and Miscellaneous Revenue ReportTO: City of Tukwila Jim Haggerton, Mayor INFORMATIONAL MEMORANDUM Mayor Haggerton Finance and Safety Committee FROM: Peggy McCarthy, Finance Director BY: Jennifer Ferrer -Santa Ines, Senior Fiscal Coordinator DATE: March 7, 2014 SUBJECT: Sales Tax and Miscellaneous Revenue Report - 4th Quarter 2013 Schedule I - Sales Tax in $1,000's Total sales tax collections for the fourth quarter were $49K above the same quarter in the previous year and $845K more year to date. New construction sales tax collection for fourth quarter was $51K lower compared to the same quarter in the previous year resulting in a 41% decrease. As of December 31st, the City has collected $1,12,631 in sales tax mitigation, which is 96% of the annual mitigation budget. 79 2012 Actual 2013 Actual YOY Change - Month - New j Other j Total New j Other j Total New Construction j Other Industries j Total Construc- j industries I Conslrucl Industries I Amount % I Amount % I Amount % Collected Recd lion lion j j Jan Mar $ 85 i $ 944 i $ 1,029 $ 76 j $ 1,038 i $ 1,114 $ (9) -11 %i $ 94 10 %i $ 85 8% Feb Apr 63 1 1,036 i 1,099 77 i 1,127 1 1,204 14 22 %� 91 9 %: 105 10% Mar May 48 : 1,174 1,222 86 ; 1,191 ; 1,277 38 79 %; 17 1 %: 55 5% Q -1 Totals $ 196 ; 3,154 ; $ 3,350 $ 239 ; 3,356 1 $ 3,595 $ 43 22 %I 202 6 %; $ 245 7% Apr Jun 58 . 1,070 ! 1,128 117 . 1,109 ! 1,226 59 102% 39 4 %. 98 9% May Jul 58 1 1,128 1 1,186 119 1 1,165 1 1,284 61 105 %1 37 3 %1 98 8% Jun Aug 731 1,2041 1,277 1041 1,2641 1,368 32 42 %I 60 5 %1 91 7% Q -2 Totals $ 189 j 3,402 j $ 3,591 $ 340 j 3,538 j $ 3,878 $ 152 80 %j 136 4 %j $ 287 8% Jul Sep 73 j 1,164 j 1,237 101 j 1,300 j 1,401 28 38% 136 12 %j 164 13% Aug Oct 71 i 1,215 i 1,286 105 1 1,240 1 1,345 34 48 %� 25 2 %� 59 5% Sep Nov 113 : 1,181 : 1,294 108 ; 1,227 ; 1,335 (4) -4%; 46 4 %: 41 3% Q -3 Totals $ 257 ; 3,560 ! $ 3,817 $ 314 ; 3,767 ; $ 4,081 $ 57 22 %; 207 6 %; $ 264 7% Oct Dec 106 . 1,100 . 1,206 92 . 1,157 . 1,249 (14) -13% 57 5 %I 43 4% Nov Jan 92 1 1,230 1 1,322 102 1 1,248 1 1,350 10 11 %1 18 1 %1 28 2% Dec Feb 1231 1,6341 1,757 751 1,6601 1,735 (47) -39 %I 26 2 %I (22) -1% Q-4 Totals $ 321 j 3,964 j $ 4,285 $ 269 j 4,065 j $ 4,334 $ (51) -41 %j 101 8 %j $ 49 4% Totals $ 963 i 14,080 i $ 15,043 $1,162 j 14,726 j $ 15,888 $ 201 21 %j 646 5 %1 $ 845 6% Total sales tax collections for the fourth quarter were $49K above the same quarter in the previous year and $845K more year to date. New construction sales tax collection for fourth quarter was $51K lower compared to the same quarter in the previous year resulting in a 41% decrease. As of December 31st, the City has collected $1,12,631 in sales tax mitigation, which is 96% of the annual mitigation budget. 79 INFORMATIONAL MEMO Page 2 Sales tax collections through fourth quarter exceeded the annual budget favorably by 9 %. -- Month -- Collected Recd 2012 2013 2014 Actual Budget Actual Variance [Act Over(Under) Bdgt] Amt cyo Projection j Budget i Projection I Jan Mar $ 1,029 $ 1,052 $ 1,114 $ 62 6% $ 1,114 $ 1,080 ; $ 1,200 Feb Apr 1,099 1,035 1,204 169 16% 1,204 1,072 ; 1,200 Mar May 1,222 1,248 1,277 29 2% 1,277 1,277 ! 1,300 Q -1 Totals $ 3,350 $ 3,335 3,595 $ 260 8% $ 3,595 $ 3,429 3,700 Apr Jun 1,128 1,120 1,226 106 9% 1,226 1,1531 1,300 May Jul 1,186 1,148 1,284 136 12% 1,284 1,183 j 1,300 Jun Aug 1,277 1,290 1,368 78 6% 1,368 1,316 j 1,400 Q -2 Totals $ 3,591 $ 3,558 $ 3,878 $ 320 9% $ 3,878 $ 3,652 j 4,000 Jul Sep 1,237 1,269 1,401 132 10% 1,401 1,293 i 1,370 Aug Oct 1,286 1,212 1,345 133 11% 1,345 1,243 ; 1,317 Sep Nov 1,294 1,250 1,335 85 7% 1,335 1.280 ! 1,356 Q -3 Totals $ 3,817 $ 3,731 $ 4,081 $ 350 9% $ 4,081 $ 3,816 I 4,043 Oct Dec 1,206 1,142 1,249 107 9% 1,162 1,171 1 1,241 Nov Jan 1,322 1,195 1,350 155 13% 1,216 1,231 ; 1,304 Dec Feb 1,757 1,668 1735 67 4% 1,697 1,711 ! 1,813 Q -4 Totals $ 4,285 $ 4,005 $ 4,334 $ 329 8% $ 4,075 $ 4,113 j 4,357 Totals $ 15,043 $ 14,629 $ 15,888 $ 1,259 9% $ 15,629 $ 15,010 16,100 W: \FIN Projects\Sales Tax Information12013 \Info Memo Sales Tax- 2013Q4MAR2014.docx 80 INFORMATIONAL MEMO Page 3 Below is a graph of sales tax collections by type of industry showing overall change through fourth quarter 2013. $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 s- $(50,000) Change YTD by Category* The miscellaneous category include activities from unclassifiable establishments. Variance from this category is due to first quarter activity from trust type organizations, which are not reported under a specific NAICS code. The State uses this code to distribute local sales tax when they are unable to identify the correct location code. The funds are distributed to jurisdictions based on their percentage of total distribution and are reported in Group 999. W: WIN Projects\Sales Tax Information120131Info Memo Sales Tax- 2013Q4MAR2014.docx 81 Services, $273,650 $201,445 Construction Reta i I Trade, $211,360 Miscellaneous, $133,808 Transportation /Warehousing $2,958 $31,088 Automotive, $517 Manufacturing, $(9,236) The miscellaneous category include activities from unclassifiable establishments. Variance from this category is due to first quarter activity from trust type organizations, which are not reported under a specific NAICS code. The State uses this code to distribute local sales tax when they are unable to identify the correct location code. The funds are distributed to jurisdictions based on their percentage of total distribution and are reported in Group 999. W: WIN Projects\Sales Tax Information120131Info Memo Sales Tax- 2013Q4MAR2014.docx 81 INFORMATIONAL MEMO Page 4 Schedule II shows the year -to -date sales tax from the top ten industry classifications. Construction of Buildings categeory had the highest year over year increase at $177,038 followed by General Merchandise Stores. Permitting activity showed an increase for the year. YTD YTD Dollar Group Name Current Prior Diff. Diff. * 452 General Merchandise Stores $ 2,154,523.21 $ 2,000,864.85 $ 153,658 7.68% * 448 Clothing and Accessories $ 2,071,809.92 $ 2,089,896.84 $ (18,087) - 0.87% * 722 Food Services, Drinking Places $ 1,528,999.75 $ 1,470,883.54 $ 58,116 3.95% * 443 Electronics and Appliances $ 997,181.74 $ 1,146,202.89 $ (149,021) - 13.00% * 423 Wholesale Trade, Durable Goods $ 975,482.22 $ 945,496.96 $ 29,985 3.17% 236 Construction of Buildings $ 716,944.13 $ 539,906.52 $ 177,038 32.79% * 453 Miscellaneous Store Retailers $ 692,524.92 $ 599,191.58 $ 93,333 15.58% * 441 Motor Vehicle and Parts Dealer $ 615,271.73 $ 621,634.76 $ (6,363) -1.02% * 451 Sporting Goods, Hobby, Books $ 568,945.20 $ 588,019.31 $ (19,074) - 3.24% * 444 Building Material and Garden $ 565,653.39 $ 516,862.17 $ 48,791 9.44% * Mitigated NAICS Code Schedule Ill shows the ten largest declines in sales tax revenue for industries with over $10,000 collected year -to -date. One retailer reporting under the Electronics and Appliances group is responsible for 53% of the decline in the last year. YTD YTD Dollar Group Name Current Prior Diff. Diff. * 443 Electronics and Appliances $ 997,181.74 $ 1,146,202.89 $ (149,021) - 13.00% 238 Specialty Trade Contractors $ 334,703.51 $ 359,935.32 $ (25,232) -7.01% * 451 Sporting Goods, Hobby, Books $ 568,945.20 $ 588,019.31 $ (19,074) -3.24% * 448 Clothing and Accessories $ 2,071,809.92 $ 2,089,896.84 $ (18,087) -0.87% 336 Transportation Equipment Man $ 251,447.04 $ 264,569.93 $ (13,123) -4.96% 561 Administrative and Support Svc $ 127,034.19 $ 139,182.12 $ (12,148) -8.73% 532 Rental and Leasing Services $ 386,888.06 $ 396,474.13 $ (9,586) -2.42% * 441 Motor Vehicle and Parts Dealer $ 615,271.73 $ 621,634.76 $ (6,363) - 1.02% * 323 Printing and Related Support $ 28,376.59 $ 33,731.53 $ (5,355) - 15.88% 713 Amusement, Gambling, and Rec $ 107,171.94 $ 109,357.19 $ (2,185) -2.00% * Mitigated NAICS Code W:1FIN Projects\Sales Tax Information1201311nfo Memo Sales Tax- 2013Q4MAR2014.docx 82 SALES TAX SUMMARY 4th Quarter 2013 (Received in March 2013 - February 2014) NAICS CONSTRUCTION 12 TOTAL 236 Construction of Buildings 539,907 237 Heavy & Civil Construction 61,598 238 Specialty Trade Contractors 359,935 TOTAL CONSTRUCTION $ 961,440 $ Overall Construction Change from Previous Year 12YTD 539,907 61,598 359,935 961,440 $ 13 YTO 716,944 111,237 334,704 1,162,885 $201,445 YTD % Diff 32.8% 80.6% -7.0% NAICS AUTOMOTIVE 12 TOTAL 12 YTD 13 YTD YTD %Diff 21.0% 441* Motor Vehicle & Parts Dealer 621,635 447' Gasoline Stations TOTAL AUTOMOTIVE NAICS 68,570 $ 690,204 $ Overall Automotive Change from Previous Year RETAIL TRADE 12 TOTAL 621,635 68,570 690,204 $ 12 YTD 615,272 -1.0% 75,449 10.0% 690,721 $517 13 YTO 0.1% %Diff YTD MANUFACTURING 12 TOTAL 12 YTD 13 YTD % Diff 442* Furniture & Home Furnishings 390,277 390,277 408,005 4.5% 443* Electronics & Appliances 1,146,203 1,146,203 997,182 -13.0% 311 Food Manufacturing 5,093 5,093 9,926 94.9% 312 Beverage & Tobacco Products 1,302 1,302 5,267 304.4% 313 Textile Mills 473 473 670 41.4% 314 Textile Product Mills 11,796 11,796 11,042 -6.4% 315 Apparel Manufacturing 458 458 685 49.5% 316 Leather& Allied Products 0 0 3 0.0% 444* Building Material & Garden 516,862 516,862 565,653 9.4% 445* Food & Beverage Stores _ 157,235 157,235 206,924 31.6% 446* Health & Personal Care 195,547 195,547 219,169 12.1% 448 Clothing & Accessories 2,089,897 2,089,897 2,071,810 -0.9% 451* Sporting Goods, Hobby, Books 588,019 588,019 568,945 -3.2% 452* General Merchandise Stores 2,000,865 2,000,865 2,154,523 7.7% 321* Wood Product Manufacturing 2,678 2,678 1,611 -39.8% 453* Miscellaneous Store Retailers 599,192 599,192 692,525 15.6% 454' Nonstore Retailers 163,934 163,934 174,653 6.5% 322* Paper Manufacturing 23,817 23,817 24,030 0.9% 323* Printing & Related Support 33,732 33,732 28,377 -15.9% TOTAL RETAIL TRADE $ 7,848,030 $ 7,848,030 $ 8,059,390 324 Petroleum & Coal Products 5 325 Chemical Manufacturing 5,997 326 Plastic & Rubber Products 1,627 327' Nonmetallic Mineral Products 5,388 331 Primary Metal Manufacturing 139 332 Fabricated Metal Mfg Products 19,444 333 Machinery Manufacturing 2,802 334' Computer & Electronic Products 18,241 335 Electric Equipment, Appliances 1,141 336 Transportation Equipment Mfg 264,570 337* Furniture & Related Products 9,119 339' Miscellaneous Manufacturing 13,701 TOTAL MANUFACTURING S 421,524 $ Overall Manufacturing Change from Previous Year TRANSPORTATION & WAREHOUSING 12 TOTAL 481 Air Transportation 5 482 Rail Transportation 2,818 484 Truck Transportation 5,528 485 Transit and Ground Passengers 1,264 487 Scenic and Sightseeing Tran 1,136 488 Transportation Support 35,239 491 Postal Services 227 492 Couriers & Messengers 254 493' Warehousing & Storage 983 TOTAL TRANSP & WHSING $ 47,454 S Overall Transportation Change from Previous Year WHOLESALE TRADE 12 TOTAL 5 5,997 1,627 5,388 139 19,444 2,802 18,241 1,141 264,570 9,119 13,701 421,524 $ 12 YTO 5 2,818 5,528 1,264 1,136 35,239 227 254 983 47,454 $ 12 YTD 23 6,273 4,565 4,655 1,150 21,801 5,062 6,719 4,944 251,447 11,025 20.9% 13,014 -5.0% 412,288 ($9,236) -2.2% 323.3% 4.6% 180.6% -13.6% 724.2% 12.1% 80.7% -63.2% 333.4% -5.0% Overall General Retail Change from Previous Year SERVICES 13 YTD 153 1,597 5,820 395 876 39,511 529 787 746 50,413 $2,958 YTD % Diff 0.0% -43.3% 5.3% - 68.8% 0.0% 12.1% 0.0% 209.3% -24.1% 6.2% YTD 13 YTD % Diff 423* Whls Trade - Durable Goods 945,497 945,497 975,482 3.2% 1.1% -9.2% 424* WhIs Trade - Nondurable Goods 131,084 425' Wholesale Electronic Markets 3,105 WHOLESALE TRADE TOTAL $ 1,079,686 $ Overall Wholesale Change from Previous Year Sales Tax Mitigation NAICS Codes 3/12/2114 131,084 3,105 1,079,686 $ 132,473 2,819 1,110,774 $31,088 2.9% 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 Care Social Assistance 71X Arts & Entertainment 72X' Accommodation & Food Svcs 81X Other Services 92X Public Administration TOTAL SERVICES 12 TOTAL 511,718 88,697 448,360 251,831 937 145,227 60,357 81,829 135,779 1,958,861 201,648 52,206 $ 3,937,451 S Overall Services Change from Previous Year MISCELLANEOUS 12 TOTAL 000 Unknown 0 111 -115 Agriculture, Forestry, Fishing 330 211 -221 Mining & Utilities 1,850 999 Unclassifiable Establishments 54,529 MISCELLANEOUS TOTAL $ 56,709 $ Overall Miscellaneous Change from Previous Year 12 TOTAL 12 YTD 511,718 88,697 448,360 251,831 937 145,227 60,357 81,829 135,779 1,958,861 201,648 52,206 3,937,451 $ 12 YTD 0 330 1,850 54,529 56,709 $ 12 YTD $211,360 13 YTD 587,449 97,434 464,703 286,461 29 181,408 58,682 91,502 133,647 2,031,720 216,087 61,978 4,211,101 $273,650 6.9% 2.7% YTD % Diff 14.8% 9.8% 3.6% 13.8% -96.9% 24.9% -2.8% 11.8% -1.6% 3.7% 7.2% 18.7% YTD 13 YTD %Diff 0 0.0% 668 102.5% 2,071 11.9% 187,778 244.4% 190,517 $133,808 236.0% 13 YTD YTD % Diff GRAND TOTALS 615,042,499 $15,042,499 $15,888,089 Grand Total Change from Previous Year Grand Total Change from Previous Year - Without New Construction $845,589 $644,144 TUK Soles TOO Rpt 04-2013.4** 5.62% 4.57%