HomeMy WebLinkAboutFS 2012-09-18 Item 2B - Report - 2012 2nd Quarter Miscellaneous Revenue ReportCity of Tukwila
zip
FROM:
BY:
DATE:
SUBJECT:
Jim Haggerton, Mayor
Mayor Haggerton
Finance and Safety Committee
Peggy McCarthy, Finance Director
Jennifer Ferrer -Santa Ines, Senior Fiscal Coordinator
September 12, 2012
Sales Tax and Miscellaneous Revenue Report 2nd Quarter 2012
Schedule I Sales Tax
Month 2011
Actual
Collected Rec'd
New Construction
j 2012 j Variance 2011
j Actual j Actual
Estimate Amt
Other Industries
j 2012 j
j Actual
Estimate
Jan
Mar
54 j
85 j
31 57%
985 j
Feb
Apr
76
63
(13) -17%
967
Mar
May
118
48
(70) -59%
1,334
I
Q -1 Totals
248
196
(52) -21%
3,286
Apr
Jun
134
58
(76) -57%
1,118
May
Jul
148
58
(90) -61%
1,059
Jun
Aug
1251
731
(52) -42%
1,2621
I
Q -2 Totals
407 j
189 j
(218) -54%
3,439 j
Subtotal Jan -Jun 1
655 i
385
(270) -41%
6,725
Jul
Sep
135
60
(75) -56%
1,146
Aug
Oct
108:
I
60
I
(48) -44°i
1,108
I
Sep
Nov
125
60
(65) -52%
1,202
I
0-3 Totals
368
180
(188) -51%
3,456
Oct
Dec
145
60
(85) -59%
1, 076
Nov
Jan
1081
601
(48) -44%
1,0931
Dec
Feb
114 j
60 j
(54) -47%
1,604 j
Q -4 Totals I
367 i
180
(187) -51%
3,773 i
I
Totals 1,390
745
(645) -46%
13,954
944 j
1,036
1,174
3,154
1,070
1,128
1,204 1
3,402 j
6,556 i
1,130
1,040
1,140
3,310
1,040
1,140 I
1,540 j
3,720 i
13,586
in 1,000's
TOTAL
Variance
2011 j
2012 j
Actual j
Actual
Amt
;Estimate;
(41) -4%
1,039
1,029 j
69 7%
1,043
1,099
(160) -12%
1,452
1,223
$(132) -4%
3,534
3,351
(48) -4%
1,252
1,128
69 7%
1,207
1,186
(58) -5%
1,3871
1,2771
(37) -1% i
3,846 j
3,591 j
$(169) -3%
7,380 i
6,942 i
(16) -1%
1,281
1,190
(68) -6%
1,216
1,100
(62) -5%
1,327
1,200
$(146) -4%
3,824
3,490
(36) -3`l
1,221
1,100
47 4%
1,201 I
1,2001
(64) -4%
1,718 j
1,600 j
(53) -1%
4,140 i
3,900 i
$(368) -3%
15,344
14,332
PROJECTED 2012 SALES TAX REVENUE 14,332
ANNUAL SALES TAX REVENUE BUDGET 14,413
PROJECTED DEFICIT IN SALES TAX REVENUE (81)
Variance
Amt
(10) -1
56 5
(229) -16
(183) -5
(124) -10
(21) -2
(110) -8
(255) -7
(438) -6%
(91) -7%
(116) -10 0 /'o
(127) -10
(334) -9
(121) -10%
(1) 0%
(118) -7
(240) -6
$(1,012) -7%
Total sales tax collections for the second quarter were $255K below the same quarter in the
previous year and were $81 K less than prorated budget to date representing a 1.15% negative
variance.
As of June 30th, the City has collected $562,115 in sales tax mitigation which is 47% of the
annual mitigation budget. The State reduced the 2 nd quarter mitigation amount by 3.4% or
$41,000. Mitigation in 2013 will also be reduced by this amount reflecting the State's biennial
budget reduction covering the period July 1, 2011 through June 20, 2013.
c
INFORMATIONAL MEMO
Page 2
Below is a graph of businesses by type of industry showing overall change from previous year
revenue receipts collected to date.
Change YTD by Category
60.0
$63,555
Manufacturing
40.0%
20.0%
0.0°, %0
-20.0%
-40.0%
-60.0%
-80.0%
100.0%
$(272,693)
Construction
$(73,6
Retail T
$91,269
Services
$(183,654)
MIS,
New construction sales tax collections for second quarter were $218K below the same quarter
in the previous year. This represents a 41% decrease compared to the first six months of
receipts from new construction last year due to a 75% drop in sales tax activity related to new
single family housing, a decrease of 66% in residential remodels, as well as reduction in
activities from industrial building and new housing. The manufacturing category increased 46%
from 2011 primarily due to metal product and aircraft manufacturing activities. The reflected
89% change in the miscellaneous category was largely due to revenue receipts from the
amnesty program in the second quarter of the previous year.
WARN Projects \Sales Tax Information\2012 \Info Memo Sales Tax- 02.08312012.docx 21
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INFORMATIONAL MEMO
Page 3
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 $71,438 or 10.97 and Miscellaneous
Store Retailers had an increase of or $45,275 or 19.85
Schedule II
Group
Name
448
Clothing and Accessories
452
General Merchandise Stores
722
Food Services, Drinking Places
443
Electronics and Appliances
423
Wholesale Trade, Durable Goods
441
Motor Vehicle and Parts Dealer
453
Miscellaneous Store Retailers
451
Sporting Goods, Hobby, Books
444
Building Material and Garden
721
Accommodation
Mitigated
NAICS Code
YTD
YTD
236
Dollar
Prior
Current
Electronics and Appliances
Diff.
Diff.
$901,465.43
$930,019.56
28,554
3.17%
$878,601.10
$865,534.31
(13,067)
-1.49%
$651,080.65
$722,519.11
71,438
10.97%
$688,849.73
$581,370.56
(107,479)
15.60%
$543,337.73
$472,779.78
(70,558)
12.99%
$308,807.22
$301,942.55
(6,865)
-2.22%
$228,103.33
$273,378.01
45,275
19.85%
$289,016.71
$264,647.76
(24,369)
-8.43%
$241,050.73
$243,984.14
2,933
1.22%
$217,986.78
$229,983.87
11,997
5.50%
Schedule III shows the ten largest declines in sales tax revenue for industries with over $10,000
collected year -to -date. There is less activity related to construction this year, which explains this
category experiencing the greatest decline over other industries. The closing of businesses,
particularly under Electronics and Appliances have also contributed to lower revenues from
sales tax this year.
Schedule III
Group
Name
236
Construction of Buildings
999
Nonclassifiable Establishments
443
Electronics and Appliances
423
Wholesale Trade, Durable Goods
518
Internet Service Providers
238
Specialty Trade Contractors
451
Sporting Goods, Hobby, Books
446
Health and Personal Care Store
452
General Merchandise Stores
532
Rental and Leasing Services
Mitigated
NAICS Code
YTD
YTD
Dollar
Prior
Current
Diff.
Diff.
438,802.38
196,884.22
(241,918)
55.13%
203,250.24
20,828.75
(182,421)
89.75%
688,849.73
581,370.56
(107,479)
15.60%
543,337.73
472,779.78
(70,558)
12.99%
61,489.65
24,920.78
(36,569)
59.47%
198,765.34
166,168.66
(32,597)
16.40%
289,016.71
264,647.76
(24,369)
-8.43%
110,310.30
90,223.11
(20,087)
18.21%
878,601.10
865,534.31
(13,067)
-1.49%
182,279.76
171,394.28
(10,885)
-5.97%
WARN Projects \Sales Tax Information\2012 \Info Memo Sales Tax- 02- 08312012.docx 23
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INFORMATIONAL MEMO
Page 4
Below is Schedule IV which shows quarterly gambling tax receipts for last year, and the current
year to date.
Schedule IV Gambling Tax
Gambling receipts for the 2nd quarter are 29% higher compared to gambling revenue for the
same quarter in the previous year and 21 below budget. One casino is paying back taxes
through a payment plan. Through August, we have received $135K in back taxes from this
casino in addition to the taxes reported in the schedule.
Schedule V shows monthly admission tax receipts for the prior year and current year to date.
Schedule V Admissions Tax
Sales
2011
2012
Quarter
INCREASE (DECREASE)
Actual
Sales
2011
2012
Prorated
Actual
Budget
Q1 Totals
Quarter
Actual
Actual
Budget
Amount
Amount
Q1
475,118
465,494
625,536
(9,624)
2.03% (160,042)
25.58%
Q2
382,817
495,196
625,536
112,379
29.36% (130,340)
20.84%
Totals
857,936
960,690
1,251,072 1
102,754
11.98% (290,382)
23.21%
gambling
tax currently includes card games, punch boards,
pull tabs,
and amusement games
Gambling receipts for the 2nd quarter are 29% higher compared to gambling revenue for the
same quarter in the previous year and 21 below budget. One casino is paying back taxes
through a payment plan. Through August, we have received $135K in back taxes from this
casino in addition to the taxes reported in the schedule.
Schedule V shows monthly admission tax receipts for the prior year and current year to date.
Schedule V Admissions Tax
Sales
2011
2012
Quarter
Actual
Actual
01
101,316
122,478
Q2
124,974
135,241
Q1 Totals
226,290
257,719
excludes golf course admissions tax
2012
Prorated
Actual
Budget
Amount
146,751
21,162
146,750
10,267
293,501 1
31,429
INCREASE (DECREASE)
Budget
Amount
20.89% (24,273) 16.54%
8.22% (11, 509) -7.84%
13.89% (35,782) 12.19%
Admission tax receipts are currently 12% below budget for the year, and nearly 14% above prior
year actual receipts.
Please let me know if you have any comments or questions. Thank you.
Attachments
Sales Tax Summary
W: \FIN Projects \Sales Tax Information\2012 \Info Memo Sales Tax- 02- 08312012.docx 25
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