Page 61 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Business Tax - Business Tax (Excl. Cannabis)

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 5,055 5,120 273 3,085 334 (2,751) 334 21,806
AUGUST 4,892 25,991 7,983 8,320 15,390 7,070 15,390 23,768
SEPTEMBE 4,367 3,481 7,914 8,250 3,460 (4,790) 3,460 5,835
OCTOBER 3,578 3,912 5,025 5,240 2,841 (2,399) 2,841 4,629
NOVEMBER 6,319 2,048 8,317 8,670 4,248 (4,422) 4,248 6,081
DECEMBER 2,648 4,949 7,860 8,190 6,227 (1,963) 6,227 5,694
JANUARY 24,688 31,342 28,467 29,680 23,987 (5,693) 23,987 30,177
FEBRUARY 135,768 148,065 195,422 206,690 164,639 (42,051) 164,639 168,664
MARCH 257,990 264,098 253,742 264,555 313,118 48,563 313,118 272,905
APRIL 13,921 13,376 8,529 16,195 10,400 13,015
MAY 25,497 19,958 26,234 23,790 5,000 25,731
JUNE 7,682 8,831 8,003 7,835 5,007 8,955
TOTAL $ 492,405 $ 531,170 $ 557,769 $ 590,500 $ 554,650 $ 587,260
% Change 2.5% 7.9% 5.0% 5.9% -0.6% 5.9%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 5,055 5,120 273 3,085 334 (2,751) 334 21,806
AUGUST 9,947 31,111 8,256 11,405 15,723 4,318 15,723 45,574
SEPTEMBE 14,314 34,592 16,170 19,655 19,183 (472) 19,183 51,409
OCTOBER 17,892 38,504 21,195 24,895 22,024 (2,871) 22,024 56,038
NOVEMBER 24,211 40,552 29,512 33,565 26,271 (7,294) 26,271 62,119
DECEMBER 26,859 45,500 37,372 41,755 32,499 (9,256) 32,499 67,813
JANUARY 51,548 76,842 65,839 71,435 56,486 (14,949) 56,486 97,990
FEBRUARY 187,316 224,908 261,261 278,125 221,125 (57,000) 221,125 266,654
MARCH 445,306 489,006 515,003 542,680 534,243 (8,437) 534,243 539,559
APRIL 459,226 502,381 523,532 558,875 544,643 552,574
MAY 484,723 522,339 549,766 582,665 549,643 578,305
JUNE 492,405 531,170 557,769 590,500 554,650 587,260
This tax category represents tax receipts from all business tax categories, with the exception of cannabis-related
business activity. Most taxpayers remit on annual basis and are assessed at rates between $1.01/$1000 and
$4.25/$1000 of gross receipts.
Due to the pandemic and the resulting Civic Center closure's impact on tax collection efforts, revised revenue
assumes a $4.8 million loss and the delayed receipt of approximately $37.7 million in tax receipts. This $37.7
million is assumed to be recovered in 2020-21. Based on declines from previous recessions a 7 percent decrease
in base receipts is assumed for non-cannabis renewal activity.

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