Page 60 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Business Tax

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 6,122 6,194 7,471 11,265 11,049 (216) 11,049 34,246
AUGUST 6,181 26,848 11,049 17,060 21,697 4,637 21,697 36,208
SEPTEMBE 5,750 4,068 8,087 14,065 9,594 (4,471) 9,594 13,275
OCTOBER 4,598 4,310 8,540 10,795 10,277 (518) 10,277 12,069
NOVEMBER 7,565 2,684 12,973 14,340 7,886 (6,454) 7,886 13,521
DECEMBER 4,684 5,773 8,139 13,975 12,636 (1,339) 12,636 13,134
JANUARY 27,031 33,384 35,935 35,585 32,131 (3,454) 32,131 37,617
FEBRUARY 143,621 154,605 198,663 212,720 170,010 (42,710) 170,010 176,104
MARCH 268,714 270,869 253,944 268,105 319,341 51,236 319,341 280,345
APRIL 15,934 14,649 16,112 19,870 14,100 20,455
MAY 28,629 21,420 31,139 27,600 6,200 33,171
JUNE 9,248 9,718 11,072 11,770 12,929 16,395
TOTAL $ 528,076 $ 554,521 $ 603,123 $ 657,150 $ 627,850 $ 686,540
% Change 3.6% 5.0% 8.8% 9.0% 4.1% 9.3%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 6,122 6,194 7,471 11,265 11,049 (216) 11,049 34,246
AUGUST 12,302 33,042 18,519 28,325 32,746 4,421 32,746 70,454
SEPTEMBE 18,052 37,111 26,606 42,390 42,339 (51) 42,339 83,729
OCTOBER 22,650 41,421 35,146 53,185 52,616 (569) 52,616 95,798
NOVEMBER 30,215 44,105 48,119 67,525 60,502 (7,023) 60,502 109,319
DECEMBER 34,900 49,877 56,258 81,500 73,138 (8,362) 73,138 122,453
JANUARY 61,931 83,261 92,193 117,085 105,269 (11,816) 105,269 160,070
FEBRUARY 205,551 237,866 290,856 329,805 275,279 (54,526) 275,279 336,174
MARCH 474,265 508,735 544,800 597,910 594,621 (3,289) 594,621 616,519
APRIL 490,199 523,384 560,912 617,780 608,721 636,974
MAY 518,828 544,803 592,051 645,380 614,921 670,145
JUNE 528,076 554,521 603,123 657,150 627,850 686,540
The City imposes a tax upon businesses located in or doing business within the City. The business tax is typically
based on gross receipts and is not an income tax. Taxpayers apportion gross receipts in cases where business
activity occurs both within and outside the City.
The Office of Finance is consulted on estimates for revised and proposed year estimates. 2019-20 revenue was
expected to end the year above estimate as a result of higher growth in both cannabis- and non-cannabis
business activity. However, due to the pandemic and the resulting Civic Center closure, the impact to tax
collection activities will likely result in the delayed receipt of $44.7 million. The recovery of these receipts are
assumed in 2020-21 revenue.

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