HomeMy WebLinkAboutFS 2007-03-19 Item 2B - Report - 2006 Sales Tax Revenue Report
Tukwila
6200 Southcenter Boulevard e Tukwila, Washington 98188
Steven M. Mullet, Mayor
MEMORANDUM
TO: Mayor Steven M. Mullet ,J/L
FROM: Kevin A. Fuhrer, Finance Director
. DATE: February 23, 2007
SUBJECT: SALES TAX REVENUE FOR BUDGET YEAR 2006
Sales Receipt Estimated 2006 2006 Actual Increase % Increase
Month Month Receipts Receipts Or (Decrease) or (Decrease)
MONTH YTD MONTH YTD
01/06 03/06 $1,235,000 $1,239,427 $4,427 $4,427 0.36% 0.36%
02/06 04/06 1,229,000 1,287,621 58,621 63,048 4.77% 2.56%
03/06 05/06 1,350,000 1 ,423,426 73,426 136,474 5.44% 3.58%
04/06 06/06 1,300,000 1,372,176 72,176 208,650 5.55% 4.08%
05/06 07/06 1,250,000 1,393,956 143,956 352,606 11.52% 5.54%
06/06 08/06 1,400,000 1,654,315 254,315 606,921 18.17% 7.82%
07/06 09/06 1 ,400! 000 1,567,199 167,199 774,120 12.00% 8.45%
08/06 10/06 1,350,000 1,424,425 74,425 848,545 5.51% 8.07%
09/06 11/06 1,425,000 1,472,794 47,794 896,339 3.35% 7.50%
1 0/06 12/06 1,350,000 1,383,317 33,317 929,656 2.47% 6.99%
11/06 01/07 1,435,000 1,473,277 38,277 967,933 2.67% 6.57%
12/06 02/07 1,950,000 2,155,998 205,998 1,173,931 10.56% 7.04%
TOTALS $16,674,000 $17,847,931
I have attached (4) charts that provide a comparison of current year to prior year activity, a
12-month rolling sales tax collection by month, sales tax by classification type, and a sales
tax growth year to date.
Some items of interest:
u A robust level of construction activity coupled with strength in the retail sales arena
(clothing, electronics & appliances, and food services and drinking places) account for
the lion's share of the elevated growth.
o The growth in some of the larger components of the retail segment - specifically
general merchandise, clothing, and food services and drinking places - is at 4% for
the year.
o On the other hand, the annual growth in construction activity accounts for 42% of the
total YTD increase (actual over budget) of $1,173,931. I do not anticipate this kind of
growth following completion of the mall and Sound Transit projects.
o For comparative purposes at the same juncture of the year, 2005 actual year-to-date
collections were 4.12% above estimated collections.
Phone: 206-433-1800 · City Hall Fax: 206-433-1833 · www.cUukwila.wa.us
Comparative Sales Tax Collection Chart
2005 and 2006
Month of December
Sales Tax by Month of Collection chart
rolling Twelve Month Period
$2,100,000
$1,900,000
$1,700,000
at la
a)
$1,500,000 (0.
$1,300,000
v
$1,100,000 ot).,
$900,000
$700,000
' $500,000
Sale sTax by Type Chart
Sales Tax Growth Year to Date Graph
By Month
s y o
a,io 00 �io RC N
GA 6 .6 3
N N
9.00%
8.00%
7.00%