HomeMy WebLinkAboutFS 2008-05-20 Item 2B - Report - 2008 Sales Tax Revenuezr
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J A 0 City of Tukwila
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7908
TO:
FROM:
DATE:
SUBJECT:
Sales Receipt
Month Month
01/08
02/08
03/08
04/08
05/08
06/08
07/08
08/08
09/08
10/08
11/08
12/08
03/08
04/08
05/08
06/08
07/08
08/08
09/08
10/08
11/08
12/08
01/09
02/09
TOTALS
6200 Southcenter Boulevard Tukwila, Washington 98188
Mayor Jim Haggerton
Kevin A. Fuhrer, Finance Director
May 5, 2008
SALES TAX REVENUE FOR BUDGET YEAR 2008
2007
Actual
$1,323,922
1,349,572
1,707,105
1,481,508
1,497,150
1,767,947
1,616,475
1,607,139
1,703,770
1,597,008
1,651,775
2,112,211
MEMORANDUM
$19,415,582 $19,045,000
2008 2008
Estimated Actual
$1,397,903
1,350,291
1,563,595
1,472,179
1,496,937
1,656,915
1,576,926
1,546,454
1,672,151
1,552,168
1,595,971
2,163,510
$1,347,251
1,357,310
0
0
0
0
0
0
0
0
0
0
$2,704,561
Increase
Or (Decrease)
MONTH
$(50,652)
7,019
0
0
0
0
0
0
0
0
0
0
Jim Haggerton, Mayor
increase
or(Deaease)
YTD MONTH
$(50,652) -3.62%
(43,633) 0 51
0 000%
0 0.00%
0 0.00%
0 0.00%
0 0.00%
0 0.00%
0 0 00%
0 0.00%
0 0.00%
0 0.00%
I have attached (3) charts that provide a 12 -month rolling sales tax collection by month, 4-
year comparison, and sales tax by classification type.
Some items of interest:
There was a mixed bag of industry segment winners and losers when comparing
activity for 2007 and 2008. General merchandise, electronics and furniture and home
furnishings are down in 2008, while wholesale durable goods, building construction
and clothing and accessories store activity is up.
a Over a 17 -year period the average for the month represents 7.09% of total annual tax
collections.
a Based upon the historical trend percentages, if the amount to date is extrapolated
one would anticipate annual sales tax collections to total $18,742,626 ($2,704,561/
.1443).
For comparative purposes, 2007, 2006, and 2005 actual year -to -date collections were
1.85 2 56% and (1.41 respectively above or below estimated collections.
Phone: 206- 433 -1800 0 City Hall Fax: 206-433-1833 www.ci.tukwila.wa.us
YTD
-3.62%
-1.59%
0.00%
0.00%
0.00%
0 00%
0 00%
0 00%
0.00%
0.00%
0 00%
0.00%
°�ulrcyv ►ta Collection
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ByM °nt h Pe rgti
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Sa tes Tax e ►�e Month
o11 T
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$2, 200 000
$2,00
,800,000
$1,60
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Type Il Amount
1 General Retail 587,524 43 3%
2 Auto 77,998 5.7%
3 Services 293,842 21.6%
4 Construction 185,836 13.7%
5 Manufacturing 20,870 1.5%
6 Transportation 2,266 0.2%
7 Wholesale 175,913 13.0%
8 Miscellaneous 13,059 1.0%
Total 1,357,308 100.0%
February 2008