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HomeMy WebLinkAboutFS 2013-03-19 Item 2B - Report - 2012 4th Quarter Sales Tax and Miscellaneous RevenueTO: City of Tukwila Jim Haggerton, Mayor INFORMATIONAL MEMORANDUM Mayor Haggerton Finance and Safety Committee FROM: Peggy McCarthy, Finance Director BY: Jennifer Ferrer -Santa Ines, Senior Fiscal Coordinator DATE: March 12, 2013 SUBJECT: Sales Tax and Miscellaneous Revenue Report - 4th Quarter 2012 Schedule I - Sales Tax in 1,000's 2012 SALES TAX REVENUE BUDGETED ANNUAL SALES TAX REVENUE SURPLUS IN SALES TAX REVENUE 15,043 14,413 $ 630 Total sales tax collections for the fourth quarter were $145K above the same quarter in the previous year. Annual sales tax revenue exceeded budget by $630K or 4 %. 7 QUARTERLY COMPARISON YEAR OVER YEAR 2011 2012 Variance -- Month -- New Other I Total New I Other I Total New Construction I Other Industries Total Construction Industries I Construction I Industries Amount % I Amount % Amount % Collected Recd Jan Mar $ 54 I $ 985 I $ 1,039 $ 85 I $ 944 I $ 1,029 $ 31 57 %I $ (41) -4 %I $ (10) -1% Feb Apr 76 967 1,043 63 1,036 1 1,099 (13) 17 %� 69 7 %� (2,142) 5% Mar May 118 ; 1,335 ; 1,453 48 ; 1,174 ; 1,222 _ (70) -59 %; (161) -12 %; (2,675) -16% Q -1 Totals $ 248 1 3,287 I $ 3,535 $ 196 I 3,154 I $ 3,350 $ (52) -21 %1 (133) -4 %I (185) -5% Apr Jun 134 1,118 1 1,252 58 l' 1,070 1 1,128 (76) -57 %1 (48) -4 %1 (2,380) -10% May Jul 148 1,059 ; 1,207 58 ; 1,128 ; 1,186 (90) -61 %; 69 7 %; (2,393) -2% Jun Aug 125 1,2621 1,387 731 1,2041 1,277 (52) -42 %1 (58) -5 %1 (2,664) -8% Q -2 Totals $ 407 3,439 � $ 3,846 $ 189 1 3,402 1 $ 3,591 $ (218) -54 %1 (37) -1%1 (255) -7% Jul Sep 135 : 1,146 . 1,281 73 : 1,164 . 1,237 (62) -46 %; 18 2 %; (2,518) -3% Aug Oct 1081 1,1081 1,216 71 1 1,2151 1,286 (37) -34 %1 107 10 %1 (2,502) 6% Sep Nov 1251 1,2021 1,327 1131 1,181 1 1,294 (12) -10 %' (21) -2 %' (2,621) -2% Q -3 Totals $ 368 . 3,456 . $ 3,824 $ 257 . 3,560 . $ 3,817 $ (111) -30 %. 104 3 %. (7) 0% Oct Dec 1451 1,0761 1,221 1061 1,1001 1,206 (39) -27 %1 24 2 %1 (2,427) -1% Nov Jan 108 i 1,093 1 1,201 92 i 1,230 1 1,322 (16) -15 %' 137 13 %� (2,523) 10% Dec Feb 114 : 1,604 . 1,718 123 . 1,634 , 1,757 I 9 8 %, 30 2 %' (3,475) 2% Q -4 Totals $ 367 1 3,773 1 $ 4,140 $ 321 1 3,964 1 $ 4,285 , $ (46) -13 %1 191 5 %I 145 4% Totals r $ 1,390 ; i 13,955 ; $ 15,345 r $ 963 ; r 14,080 ; $15,043 (427) r -31 %; 125 I 1 %; (302) -2% 2012 SALES TAX REVENUE BUDGETED ANNUAL SALES TAX REVENUE SURPLUS IN SALES TAX REVENUE 15,043 14,413 $ 630 Total sales tax collections for the fourth quarter were $145K above the same quarter in the previous year. Annual sales tax revenue exceeded budget by $630K or 4 %. 7 8 INFORMATIONAL MEMO Page 2 The City has collected $1,127,394 in sales tax mitigation to date which is 94% of the annual mitigation budget of $1.2 million, a decline of $90K compared to the previous year due to the State's 3.4% reduction for the 2012 -2013 biennium, ending on June 30th and a reduction in base mitigation. The following is a schedule of mitigation payments for 2011 -2012. State FY 12 State FY 13 Unadjusted 3.4% Annual 3.4% Quarterly Adjusted Qtr ending Mitigation Reduction Reduction Mitigation 03/31/2011 $ 06/30/2011 09/30/2011 12/31/2011 305,986 305,295 305,850 300,287 $ 305,986 305,295 305,850 300,287 $ 1,217,418 03/31/2012 $ 301,763 $ 301,763 06/30/2012 301,470 (41,119) * 260,351 09/30/2012 301,197 (10,241) ** 290,956 12/31/2012 283,978 (9,655) ** 274,323 $ (41,119) $ (19,896) $ 1,127,393 *Annual reduction from the State was taken out of the 6/30/12 mitigation payment in total * *3.4% reduction per quarter reflected in the adjusted payments beginning with the 9/30/12 mitigation W:1FIN Projects\Sales Tax Information120121Info Memo Sales Tax- Q4- 12312012.docx INFORMATIONAL MEMO Page 3 Below is a graph of businesses by type of industry showing overall change from previous year revenue receipts collected to date. 80.0% 60.0% 40.0% 20.0% 0.0% -20.0% -40.0% -60.0% -80.0% - 100.0% $(430,022) $147,822 Manufacturing Construction % ChangeYTD by Category $(12,092) Transp /Whsng $19,128 Automotive $(38,958) $(81,328) Mils' Trade Retail Trade $263,166 Services $(171,019 Misc New construction sales tax collections for fourth quarter were $46K or 13% below the same quarter in the previous year. Year to date through the fourth quarter, collections from new construction sales tax were $427K or 31 % below the prior year. Sales tax collected through the amnesty program in effect in 2011 was recorded in the Miscellaneous category. The program was only in effect during 2011 which accounts for the decline in this category in 2012 compared to last year. W: \FIN Projects \Sales Tax Information \20121Info Memo Sales Tax- Q4- 12312012.docx 9 10 INFORMATIONAL MEMO Page 4 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 $133,816 or 10% followed by Miscellaneous Store Retailers, an increase of $92,001 or 18 %. Schedule II YTD YTD Dollar % Group Name Current Prior Diff. Diff. * 448 Clothing and Accessories $ 2,089,896.84 $ 2,037,642.78 $ 52,254 2.56% * 452 General Merchandise Stores $ 2,000,864.85 $ 2,003,946.63 $ (3,082) -0.15% * 722 Food Services, Drinking Places $ 1,470,883.54 $ 1,337,067.28 $ 133,816 10.01% * 443 Electronics and Appliances $ 1,146,202.89 $ 1,399,871.25 $ (253,668) - 18.12% * 423 Wholesale Trade, Durable Goods $ 945,496.96 $ 1,008,366.41 $ (62,869) -6.23% * 441 Motor Vehicle and Parts Dealer $ 621,634.76 $ 603,008.63 $ 18,626 3.09% * 453 Miscellaneous Store Retailers $ 599,191.58 $ 507,190.86 $ 92,001 18.14% * 451 Sporting Goods, Hobby, Books $ 588,019.31 $ 642,610.38 $ (54,591) -8.50% 236 Construction of Buildings $ 539,906.52 $ 849,322.36 $ (309,416) - 36.43% * 444 Building Material and Garden $ 516,862.17 $ 487,835.88 $ 29,026 5.95% * Mitigated NAICS Code 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. Schedule III YTD YTD Dollar % Group Name Current Prior Diff. Diff. 236 Construction of Buildings $ 539,906.52 $ 849,322.36 $ (309,416) - 36.43% * 443 Electronics and Appliances $ 1,146,202.89 $ 1,399,871.25 $ (253,668) - 18.12% 999 Nonclassifiable Establishments $ 54,529.03 $ 224,338.47 $ (169,809) - 75.69% 238 Specialty Trade Contractors $ 359,935.32 $ 449,302.68 $ (89,367) - 19.89% * 423 Wholesale Trade, Durable Goods $ 945,496.96 $ 1,008,366.41 $ (62,869) -6.23% * 451 Sporting Goods, Hobby, Books $ 588,019.31 $ 642,610.38 $ (54,591) -8.50% 518 Internet Service Providers $ 41,958.64 $ 85,638.58 $ (43,680) - 51.00% 237 Heavy and Civil Construction $ 61,598.16 $ 92,837.01 $ (31,239) - 33.65% 621 Ambulatory Health Care Service $ 54,144.16 $ 77,509.29 $ (23,365) - 30.14% * 446 Health and Personal Care Store $ 195,546.77 $ 214,626.03 $ (19,079) -8.89% * Mitigated NAICS Code W:1FIN Projects\Sales Tax Information120121Info Memo Sales Tax- Q4- 12312012.docx INFORMATIONAL MEMO Page 5 Below is Schedule IV which shows quarterly gambling tax receipts for last year, and the current year to date. Schedule IV - Gambling Tax ** 2012 Sales 2011 2012 Prorated Quarter Actual Actual Budget INCREASE (DECREASE) 2012 to 2011 Actuals 2012 to 2012 Budget Amount % Amount Q1 $ 475,118 $ 465,494 $ 625,536 Q2 $ 382,817 $ 495,196 $ 625,536 Q3 $ 387,236 $ 454,973 $ 625,536 Q4 $ 218,916 $ 508,515 $ 625,534 Totals $ 1,464,087 $ 1,924,178 $ 2,502,142 $ (9,624) - 2.03% $ (160,042) $ 112,379 29.36% $ (130,340) $ 67,738 $ 289,599 132.29% $ (117,019) $ 460,091 31.43% $ (577,964) - 25.58% - 20.84% 17.49% $ (170,563) - 27.27% -18.71% - 23.10% ** gambling tax currently includes card games, punch boards, pull tabs, and amusement games Gambling receipts for the 4th quarter are 132% higher compared to gambling revenue for the same quarter in the previous year and 19% below budget. In 2011, one casino did not pay 4th quarter taxes and paid only a portion of its 2nd quarter taxes. All casinos remitted their gambling taxes in full for each quarter in 2012 explaining the large increase in et quarter actuals year over year. To date, all back taxes due from this casino have been receipted with the majority being collected in 2012 and the remainder in 2013. In addition, a portion of back taxes for pull tab gambling activity was recovered through a lien and foreclosure process. The City received $100,000 in February 2013 and will receive $25,000 by the end of March. Schedule V shows monthly admission tax receipts for the prior year and current year to date. Schedule V - Admissions Tax * ** 2012 Sales 2011 2012 Prorated Quarter Actual Actual Budget Q1 $ 101,316 $ 122,478 $ 146,750 Q2 124,974 135,241 146,750 Q3 121,907 127,694 146,750 Q4 111,030 142,715 146,750 Totals $ 459,227 $ 528,128 $ 587,000 INCREASE (DECREASE) 2012 to 2011 Actuals 2012 Actuals to 2012 Budget Amount Amount $ 21,162 10,267 5,787 31,685 $ 68,901 20.89% $ (24,272) - 16.54% 8.22% (11,509) - 7.84% 4.75% (19,056) - 12.99% 28.54% (4,035) - 2.75% 15.00% $ (58,872) - 10.03% * ** excludes golf course admissions tax Admission tax receipts are currently 10% below budget for the year, and about 15% above prior year actual receipts. Attachments • Sales Tax Summary W:1FIN Projects\Sales Tax Information120121Info Memo Sales Tax- Q4- 12312012.docx 11 p J SALES TAX SUMMARY 2012 Collections YTD thru 12 -31 -2012 (Received in March 2012 - February 2013) NAICS CONSTRUCTION 11 TOTAL 236 Construction of Buildings 849,322 237 Heavy & Civil Construction 92,837 238 Specialty Trade Contractors 449,303 TOTAL CONSTRUCTION $ 1,391,462 $ Overall Construction Change from Previous Year 11 YTD 849,322 92,837 449,303 1,391,462 $ YTD 12YTD %Diff -36.4% -33.6% -19.9% 539,907 61,598 359,935 NAICS AUTOMOTIVE 11 TOTAL 11 YTD YTD 12 YTD % Diff 961,440 ($430,022) -30.9% 441* Motor Vehicle & Parts Dealer 447* Gasoline Stations NAICS TOTAL AUTOMOTIVE 603,009 68,068 $ 671,077 $ Overall Automotive Change from Previous Year RETAIL TRADE 11 TOTAL 603,009 68,068 671,077 11 YTD 621,635 3.1% 68,570 690,204 $19,128 12 YTD 0.7% 2.9% % Diff YTD MANUFACTURING 11 TOTAL 11 YTD 12YTD % Diff 442* Furniture & Home Fumishings 371,512 371,512 390,277 5.1% 443* Electronics &Appliances 1,399,871 1,399,871 1,146,203 -18.1% 311 Food Manufacturing 3,913 3,913 5,093 30.1% 312 Beverage & Tobacco Products 3,638 3,638 1,302 - 64.2% 313 Textile Mills 661 661 473 -28.4% 314 Textile Product Mills 11,723 11,723 11,796 0.6% 315 Apparel Manufacturing 544 544 458 -15.7% 316 Leather & Allied Products 12 12 0 - 100.0% 444* Building Material & Garden 487,836 487,836 516,862 6.0% 445* Food & Beverage Stores 122,949 122,949 157,235 27.9% 446* Health & Personal Care 214,626 214,626 195,547 -8.9% 448* Clothing & Accessories 2,037,643 2,037,643 2,089,897 2.6% 451* Sporting Goods, Hobby, Books 642,610 642,610 588,019 -8.5% 452* General Merchandise Stores 2,003,947 2,003,947 2,000,865 -0.2% 321* Wood Product Manufacturing 1,777 1,777 2,678 50.7% 453* Miscellaneous Store Retailers 507,191 507,191 599,192 18.1% 322* Paper Manufacturing 21,239 21,239 23,817 12.1% 454* Nonstore Retailers 141,173 141,173 163,934 16.1% 323* Printing & Related Support 39,915 39,915 33,732 -15.5% TOTAL RETAIL TRADE $ 7,929,358 $ 7,929,358 $ 7,848,030 324 Petroleum & Coal Products 325 Chemical Manufacturing 326 Plastic & Rubber Products 1,066 8,549 3,288 1,066 8,549 3,288 5 5,997 1,627 -99.5% -29.8% - 50.5% 327* Nonmetallic Mineral Products 5,843 5,843 5,388 -7.8% 331 Primary Metal Manufacturing 332 Fabricated Metal Mfg Products 333 Machinery Manufacturing 197 14,421 3,318 197 14,421 3,318 139 19,444 2,802 - 29.3% 34.8% -15.6% 334* Computer & Electronic Products 18,739 18,739 18,241 -2.7% 335 Electric Equipment, Appliances 336 Transportation Equipment Mfg 198 112,148 337* Fumiture & Related Products 339* Miscellaneous Manufacturing 198 112,148 1,141 264,570 476.6% 135.9% 10,936 10,936 9,119 -16.6% 11,577 11,577 TOTAL MANUFACTURING $ 273,702 $ Overall Manufacturing Change from Previous Year TRANSPORTATION & WAREHOUSING 481 Air Transportation 482 Rail Transportation 484 Truck Transportation 485 Transit and Ground Passengers 487 Scenic and Sightseeing Tran 488 Transportation Support 491 Postal Services 492 Couriers & Messengers 11 TOTAL 73 1,892 6,937 17,288 844 31,327 223 38 273,702 11 YTD 73 1,892 6,937 17,288 844 31,327 223 38 13,701 18.4% 421,524 $147,822 12YTD 5 2,818 5,528 1,264 1,136 35,239 227 254 54.0% YTD % Diff 0.0% 49.0% -20.3% -92.7% 0.0% 12.5% 0.0% 570.2% 493* Warehousing & Storage 926 926 983 6.2% TOTAL TRANSP & WHSING $ 59,547 $ Overall Transportation Change from Previous Year WHOLESALE TRADE 11 TOTAL 59,547 11 YTD 423* Whls Trade - Durable Goods 1,008,366 1,008,366 424* Whls Trade - Nondurable Goods 108,078 108,078 425* Wholesale Electronic Markets 2,199 2,199 47,454 ($12,092) 12YTD -20.3% YTD % Diff 945,497 -6.2% 131,084 21.3% 3,105 41.2% WHOLESALE TRADE TOTAL $ 1,118,644 $ Overall Wholesale Change from Previous Year W Sales Tax Mitigation NAICS Codes 03/13/2013 Overall General Retail Change from Previous Year SERVICES 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 11 TOTAL 503,025 74,831 434,933 216,619 109 140,347 66,745 102,103 120,156 1,796,673 177,493 41,251 $ 3,674,285 $ Overall Services Change from Previous Year MISCELLANEOUS 11 TOTAL 000 Unknown 41 111 -115 Agriculture, Forestry, Fishing 411 211 -221 Mining & Utilities 2,934 999 Unclassifiable Establishments 224,338 MISCELLANEOUS TOTAL $ 227,724 $ Overall Miscellaneous Change from Previous Year 11 TOTAL 11 YTD 503,025 74,831 434,933 216,619 109 140,347 66,745 102,103 120,156 1,796,673 177,493 41.251 3,674,285 11 YTD 41 411 2,934 224,338 227,724 11 YTD ($81,328) -1.0% YTD 12 YTD % Diff 1.7% 18.5% 3.1% 16.3% 762.4% 3.5% -9.6% -19.9% 13.0% 9.0% 13.6% 26.6% GRAND TOTALS $15,345,798 $15,345,798 511,718 88,697 448,360 251,831 937 145,227 60,357 81,829 135,779 1,958,861 201,648 52,206 3,937,451 $263,166 12 YTD 0 330 1,850 54,529 $ 56,709 ($171,015) 12 YTD $15,042,499 7.2% YTD % Diff -100.0% -19.9% -36.9% -75.7% -75.1% YTD % Diff Grand Total Change from Previous Year 1,118,644 $ 1,079,686 Grand Total Change from Previous Year - Without New Construction ($38,958) -3.5% ($303,299) -1.98% $126,723 TUK Sales Tax Rpt 201212Q4.xlsx. 0.91%