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Home My WebLink AboutFS 2010-05-18 Item 2C - Report - February 2010 Sales Tax Revenue ReportTO: City of Tukwila INFORMATIONAL MEMORANDUM Mayor Haggerton Finance and Safety Committee FROM: Shawn Hunstock, Finance Director DATE: April 29, 2010 SUBJECT: Sales Tax Revenue for February 2010 Schedule I in 1,000's 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 (1,705) (2,608) 100.00% 56.09% Apr June 1,191 1,578 (1,578) (4,186) 100.00% 67.21% May July 1,082 1,603 (1,603) (5,789) 100.00% 73.92% June Aug 1,217 1,812 (1,812) (7,601) 100.00% 78.82% July Sept 1,473 1,793 (1,793) (9,394) 100.00% 82.14% Aug Oct 1,118 1,656 (1,656) (11,050) 100.00% 84.40% Sept Nov 1,110 1,682 (1,682) (12,732) 100.00% 86.18% Oct Dec 1,032 1,556 (1,556) (14,288) 100.00% 87.50% Nov Jan11 1,140 1,631 (1,631) (15,919) 100.00% 88.63% Dec Feb11 1,690 2,270 (2,270) (18,189) 100.00% 89.91% Totals 14,422 20,231 2,042 Mitigation Received 312 2,354 79.93% of Budget Incl. Mitigation Jim Haggerton, Mayor Sales tax collections showed the eighteenth consecutive decrease in February compared to the same period in the prior year. For February, collections were less than both budget and the same month in the prior year. Actual receipts for February were $456,000 less than budget, and $45,000 less than the same period last year. We are down 31.19% for the month compared to budget, and 4.28% compared to the same month last year. We are now down 31.19% for the year compared to budget, and 8.14% compared to the same period last year. The chart above also includes the mitigation payment we received at the end of March, which is actually for the fourth quarter of 2009 but is included in 2010 revenue because it was received so far after the end of 2009. Including the mitigation payment, we are currently at 79.93% of budget for the year to date. The mitigation payment we received on March 31s was $311,653.10. This the same amount as the last mitigation payment received on December 31 because the payments are now annualized and will only be adjusted once per year in the fall. Staff are working this week on corrections to the mitigation detail files, requesting removal of businesses that should not be there, with the due date to DOR being April 30th 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 II Group Name 452* General Merchandise Stores 448* Clothing and Accessories 423* Wholesale Trade, Durable Goods 722* Food Services, Drinking Places 443* Electronics and Appliances 441* Motor Vehicle and Parts Dealer 451* Sporting Goods, Hobby, Books 444* Building Material and Garden 453* Miscellaneous Store Retailers 517 Telecommunications 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 31.66 and Miscellaneous Store Retailers is down by 24.71%. As you can see from Schedule II, six of the top ten merchant categories have declined versus prior year, and all but one 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 Ill Group Name 336 Transportation Equipment Man 236 Construction of Buildings 238 Specialty Trade Contractors 561 Administrative and Support Svc 441* Motor Vehicle and Parts Dealer 453* Miscellaneous Store Retailers 424* Wholesale Trade, Nondurable 541 Professional, Scientific, Tech 443* Electronics and Appliances 812 Personal and Laundry Services Mitigated NAICS Code YTD Current 276,800 256,866 220,597 216,276 133,541 94,343 86,241 68,742 68,685 65,295 YTD Current 11,898 53,855 31,631 14,709 94,343 68,685 14,824 28,950 133,541 12,797 W: \FIN Projects \Sales Tax Information \Sales Tax Files from Shawn12010 \Info Memo Sales Tax 042910.docx YTD Dollar Prior Diff. Diff. 284,703 (7,902) -2.78% 258,397 (1,531) -0.59% 224,532 (3,935) -1.75% 198,381 17,895 9.02% 163,546 (30,005) 18.35% 138,051 (43,708) 31.66% 82,445 3,796 4.60% 66,850 1,892 2.83% 91,224 (22,539) 24.71% 61,425 3,871 6.30% YTD Dollar Prior Diff. 27,110 (15,212) 122,025 (68,171) 65,261 (33,630) 26,296 (11,588) 138,051 (43,708) 91,224 (22, 539) 19,103 (4,280) 36,694 (7,744) 163,546 (30,005) 15,402 (2,605) Diff. -56.11%' 55.87% 51.53% 44.07% 31.66% -24.71% 22.40% 21.10% 18.35% 16.92% 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. NAICS 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 Manufacturing 326 Plastic Rubber Products 327* Nonmetallic Mineral Products 331 Primary 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 Manufacturing TOTAL MANUFACTURING TRANSPORTATION &WAREHOUSING 481 Air Transportation 482 Rail Transportation 484 Truck Transportation 485 Transit and Ground Passengers 488 Transportation Support 491 Postal Services 492 Couriers Messengers 493* Warehousing Storage TOTAL TRANSP WHSING 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 I Sales Tax Mitigation NAICS Codes 04/29/2010 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 0 149 1,051 38,401 Overall Transportation Change from Previous Year YTD 09 YTD 10 YTD Diff 122,025 53,855 -55.9% 5,367 2,242 -58.2% 65,261 31,631 -51.5% 192,654 87,728 ($104,926) -54.5% YTD 09 YTD 10 YTD Diff 411 160 -61.0% 339 -4,389 1393.7% 2 0 -100.0% 1,517 1,775 17.1% 30 0 -98.4% 0 0 #DIV /0! 705 100 -85.8% 3,153 3,313 5.1% 10,833 7,638 -29.5% 945 505 -46.5% 885 881 -0.4% 206 216 5.0% 598 572 -4.3% 0 29 9576.7% 386 1,015 162.8% 1,088 5,817 434.5% 202 746 270.0% 13 38 196.5% 27,110 11,898 -56.1% 1,517 1,591 4.8% 1,769 1,776 0.4% 51,709 33,684 ($18,025) SALES TAX SUMMARY February 2010 (Received in April) -34.9% I YTD 09 YTD 10 YTD Diff 0 0 0.0% 166 39 -76.5% 140 15 -89.3% 1,333 5,184 288.8% 3,603 1,870 -48.1% 0 0 #DIV /0! 21 58 170.5% 148 148 -0.5% I 5,411 7,314 $1,903 35.2% YTD 09 YTD 10 YTD Diff 224,532 220.597 -1.8% I 19,103 14,824 -22.4% I 248 233 -6.0% 1 243,883 235,654 ($8,229) -3.4% NAICS AUTOMOTIVE 09 TOTAL I 441" Motor Vehicle Parts Dealer 686,478 I 447* Gasoline Stations 62,584 TOTAL AUTOMOTIVE 749,063 Overall Automotive Change from Previous Year NAICS RETAIL TRADE 09 TOTAL 442* Furniture Home Furnishings 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 Care Social Assistance 71X Arts Entertainment 72X* Accommodation Food Svcs 81X Other Services 92X Public Administration TOTAL SERVICES Page 1 SERVICES 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 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 09 TOTAL GRAND TOTALS $14,422,090 Grand Total Change from Previous Year YTD 09 YTD 10 YTD Diff 138,051 94,343 -31.7% 9,252 9,630 4.1% 147,303 103,973 (643,330) 29.4% 09 YTD 10 YTD Diff 60,029 57,677 -3.9% 163,546 133,541 -18.3% 66,850 68,742 2.8% 14,254 12,684 -11.0% 20,770 26,991 30.0% 258,397 256,866 -0.6% 82,445 86,241 4.6% 284,703 276,800 -2.8% 91,224 68,685 -24.7% 12,751 13,873 8.8% 1,054,969 1,002,101 ($52,868) -5.0% YTD 09YTD 10YTD %Diff 77,359 80,347 3.9% 5,052 7,243 43.4% 51,001 50,787 -0.4% 36,694 28,950 -21.1% 185 28 -85.1% 27,160 15,096 -44.4% 3,166 8,700 174.8% 15,762 8,974 -43.1% 6,401 14,162 121.3% 270,451 280,290 3.6% 1 30,365 27,853 -8.3% 415 3,151 659.4% 524,011 525,580 $1,570 0.3% YTD 09 YTD 10 YTD Diff 397 0 -99.9% 0 30 #DIV /0 1,232 1,071 -13.1% 1,692 44,333 2520.5% 3,321 45,434 642,113 1268.1% YTD 09 YTD 10 YTD Diff $2,223,261 $2,041,468 ($181,793) -8.18% rue Soles lax Rpt 20I002.xhm 2010 2009 L 2008 2007 2006 Five Year Comparison I I $2,041,471. I $2,223,267 $2,02 /,U45 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $2,6 /3,495 Taxes Collected Year to Date