HomeMy WebLinkAboutFS 2012-06-19 Item 2B - Report - 2012 First Quarter Miscellaneous Revenue10]
FROM:
BY:
DATE:
SUBJECT
City of Tukwila
Jim Haggerton, Mayor
INFORMATIONAL MEMORANDUM
Mayor Haggerton
Finance and Safety Committee
Peggy McCarthy, Finance Director
Jennifer Ferrer -Santa Ines, Senior Fiscal Coordinator
June 13, 2012
Sales Tax and Miscellaneous Revenue Report -1 Quarter 2012
CURRENT YEAR ACTUAL PRIOR YEAR ACTUAL
Month
New
Collected Recived Constr
Jan Mar
85
Feb Apr
63
Mar May
48
1st Qtr.
196
Change Actual
1,174
Prorated BUDGET
118
BUDGET variance
Variance
3,603
(253)
-7.03%
INCREASE (DECREASE)
ACTUAL
New
Other
TOTAL
New
Other
TOTAL
Constr
944
1,029
54
1,036
1,099
76
1,174
1,222
118
3,154
3,350
N 248
3,603
(253)
-7.03%
INCREASE (DECREASE)
ACTUAL
New
Other
TOTAL
Constr
Other
TOTAL
985
1,039
31
(41)
(10)
967
1,043
(13)
69
56
1,334
1,452
(70)
(160)
(230)
3,286
3,534 1
(52)
(132)
(184)
-21%
4%
-5.2%
Total sales tax collections for first quarter were $184K below the same quarter in the previous
year and were $253K less than prorated budget representing a 7% negative variance. New
construction sales tax collections for first quarter were $52K below the same quarter in the
previous year resulting in a 21% decrease. As of March 31 the City has collected $301,763 in
sales tax mitigation which is 25% of the percentage of annual mitigation budget.
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INFORMATIONAL MEMO
Page 2
Schedule II shows the year -to -date sales tax from the top ten industry classifications. Food
Services had the highest year over year increase at $39,065 or 12.2 and Miscellaneous Store
Retailers had an increase of $19,909 or 17
Schedule
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date.
Schedule III
Group
Name
YTD
YTD
423
Dollar
Group
Name
Current
Prior
Specialty Trade Contractors
Diff.
Diff.
448
Clothing and Accessories
$434,693.13
$437,147.78
(2,455)
0.56%
452
General Merchandise Stores
$415,037.77
$423,952.45
(8,915)
-2.10%
722
Food Services, Drinking Places
$358,354.45
$319,289.28
39,065
12.24%
443
Electronics and Appliances
$312,511.01
$377,089.80
(64,579)
17.13%
423
Wholesale Trade, Durable Goods
$213,087.29
$253,385.71
(40,298)
15.90%
441
Motor Vehicle and Parts Dealer
$153,609.89
$142,236.60
11,373
8.00%
453
Miscellaneous Store Retailers
$136,754.54
$116,845.44
19,909
17.04%
451
Sporting Goods, Hobby, Books
$129,319.14
$140,470.11
(11,151)
-7.94%
721
Accommodation
$106,463.87
$99,772.83
6,691
6.71%
444
Building Material and Garden
$105,701.48
$103,635.97
2,066
1.99%
Mitigated NAICS Code
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date.
Schedule III
Group
Name
443
Electronics and Appliances
423
Wholesale Trade, Durable Goods
236
Construction of Buildings
532
Rental and Leasing Services
238
Specialty Trade Contractors
446
Health and Personal Care Store
451
Sporting Goods, Hobby, Books
452
General Merchandise Stores
541
Professional, Scientific, Tech
517
Telecommunications
Mitigated
NAICS Code
YTD
YTD
Dollar
Current
Prior
Diff.
Diff.
312,511.01
377,089.80
(64,579)
17.13%
213,087.29
253,385.71
(40,298)
15.90%
102,018.99
136,395.57
(34,377)
25.20%
75,670.34
98,427.51
(22,757)
23.12%
84,429.31
103,453.83
(19,025)
18.39%
45,922.79
64,534.20
(18,611)
28.84%
129,319.14
140,470.11
(11,151)
-7.94%
415,037.77
423,952.45
(8,915)
-2.10%
44,214.87
50,253.04
(6,038)
12.02%
85,672.14
89,492.38
(3,820)
-4.27%
WARN ProjectslSales Tax Information1201211nfo Memo (Fin Director Final) Sales Tax 05312012 (2).docx
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INFORMATIONAL MEMO
Page 3
Below is Schedule IV which shows quarterly gambling tax receipts for last year, and the current
year to date.
Schedule IV Gambling Tax
2012 INCREASE (DECREASE)
Sales 2011 2012 Prorated Actual Budget
Quarter Actual Actual Budget Amount Amount
Q1 475,118 465,494 625,536 I 9,624) -2.03% (160,042) 25.58%
gambling tax currently includes card games, punch boards, pull tabs, and amusement games
Gambling receipts for the first quarter is 2.03% lower compared to gambling revenue for the
same quarter in the previous year and 25.58% below budget. One casino remains delinquent
and still owes $63K on their second quarter 2011 taxes. Year -to -date we have received $34K in
back taxes from this casino. We continue to collect the current outstanding amount as
according to the signed Installment Payment Agreement between the City and the casino for
gambling tax arrears.
Below is Schedule V which shows monthly admission tax receipts for the prior year and current
year to date.
Schedule V -Admissions Tax
Sales
2011
2012
Quarter
Actual
Actual
Jan
31,217
34,787
Feb
30,403
38,212
Mar
39,696
49,479
Q1 Totals
101,316
122,478
excludes golf course admissions tax
2012
INCREASE (DECREASE)
Prorated
Actual
Budget
Budget
Amount
Amount
48,917
3,570
11.44%
(14,130)
28.89%
48,917
7,809
25.68%
(10,705)
21.88%
48,917
9,783
24.65%
562
1.15%
146,751 1$
21,162
20.89%
(24,273)
16.54%
Admission tax receipts are currently 16.54% below budget for the year, and nearly 21 above
prior year actual receipts.
Please let me know if you have any comments or questions. Thank you.
Attachments
Sales Tax Summary
15 -month Sales Tax History Chart
WAFIN ProjectslSales Tax Information1201211nfo Memo (Fin Director Final) Sales Tax 05312012 (2).docx
7
x
sales tax summary
1st quarter 2012
10
15 month sales tax history