HomeMy WebLinkAboutFS 2007-07-16 Item 2C - Report - Sales Tax Revenue Report C
�ci�'•. 6200 Southcenter Boulevard Tukwila, Washington 98188 Steven M. Mullet, Mayor
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MEMORANDUM
TO Mayor Steven M. Mullet
FROM: Kevin A. Fuhrer, Finance Director
DATE: June 26, 2007
SUBJECT: SALES TAX REVENUE FOR BUDGET YEAR 2007
Sales Receipt Estimated 2007 2007 Actual Increase Increase
Month Month Receipts Receipts Or (Decrease) or (Decrease)
MONTH YTD MONTH YTD
01/07 03/07 $1,337,000 $1,323,922 $(13,078) $(13,078) (1.00)% (1.00)%
02/07 04/07 1,288,000 1,349,572 61,572 48,494 4.78% 1.85%
03/07 05/07 1,480, 000 1,707,105 227,105 275,599 15.34% 6.71%
04/07 06/07 1,402,000 1,481,508 79,508 355,107 5.67% 6.45%
05/07 07/07 1,427,000 0 0 0 0.00% 0.00%
06/07 08/07 1,575,000 0 0 0 0.00% 0.00%
07/07 09/07 1,500,000 0 0 0 0.00% 0.00%
08/07 10/07 1,470,000 0 0 0 0.00% 0.00%
09/07 11/07 1,595,000 0 0 0 0.00% 0.00%
10/07 12/07 1,476,000 0 0 0 0.00% 0.00%
11/07 01/08 1,520,000 0 0 0 0.00% 0.00%
12/07 02/08 2,068,000 0 0 0 0.00% 0.00%
TOTALS $18,138,000 $5,862,107
1 have attached (3) charts that provide a 12 -month rolling sales tax collection by month, 3-
year comparison, and sales tax by classification type.
Some items of interest:
A robust level of construction activity is contributing to generous sales tax collections.
Additionally taxes from transportation equipment manufacturing are up significantly
from the prior year.
Looking over a period of 16 years, the average for the month represents 7.73% of
total annual tax collections.
Based upon the historical trend percentages, if the amount to date is extrapolated
one would anticipate annual sales tax collections to total $19,302,295. ($5,862,107
.3037) Of course we need to be cautious when considering the extrapolated value
given the construction discussion above and it's one time /variable revenue nature.
For comparative purposes at the same juncture of the year, 2006 and 2005 actual
year -to -date collections were 4.08% and 2.75% respectively above estimated
collections. Continuing with a comparison, the first (4) months of 2006 bore year -to-
date collections of $532 while 2005 registered $5, 086,326.
Phone: 206 433 -1800 City Hall Fax: 206- 433 -1833 0 www.ci.tukwila.wa.us
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