Page 63 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Sales Tax

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 33,658 35,137 46,392 51,600 52,587 987 52,587 44,695
AUGUST 46,308 46,335 39,560 44,230 48,370 4,140 48,370 44,780
SEPTEMBER 49,734 51,765 57,841 51,610 48,328 (3,282) 48,328 45,910
OCTOBER 33,897 35,018 54,699 51,610 51,413 (197) 51,413 46,490
NOVEMBER 44,682 46,993 45,427 44,230 52,604 8,374 52,604 46,600
DECEMBER 53,963 54,916 50,759 51,610 47,151 (4,459) 47,151 47,690
JANUARY 36,692 37,648 46,635 51,610 45,680 (5,930) 45,680 48,310
FEBRUARY 48,827 50,449 54,870 44,230 67,236 23,006 67,236 48,410
MARCH 47,241 50,788 47,545 51,610 42,988 (8,622) 42,988 45,640
APRIL 32,034 32,623 45,278 51,610 47,494 46,220
MAY 42,644 46,607 47,889 44,230 50,240 46,320
JUNE 50,725 41,478 44,549 51,610 32,379 45,990

TOTAL $ 520,404 $ 529,757 $ 581,443 $ 589,790 $ 586,469 $ 557,055
% Change 24.6% 1.8% 9.8% 1.4% 0.9% -5.0%

2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 33,658 35,137 46,392 51,600 52,587 987 52,587 44,695
AUGUST 79,967 81,472 85,951 95,830 100,957 5,127 100,957 89,475
SEPTEMBER 129,701 133,237 143,792 147,440 149,285 1,845 149,285 135,385
OCTOBER 163,598 168,255 198,491 199,050 200,698 1,648 200,698 181,875
NOVEMBER 208,279 215,248 243,919 243,280 253,302 10,022 253,302 228,475
DECEMBER 262,242 270,164 294,678 294,890 300,453 5,563 300,453 276,165
JANUARY 298,934 307,812 341,313 346,500 346,133 (367) 346,133 324,475
FEBRUARY 347,761 358,261 396,182 390,730 413,369 22,639 413,369 372,885
MARCH 395,001 409,049 443,727 442,340 456,356 14,016 456,356 418,525
APRIL 427,035 441,672 489,005 493,950 503,850 464,745
MAY 469,679 488,279 536,894 538,180 554,090 511,065
JUNE 520,404 529,757 581,443 589,790 586,469 557,055
The total sales tax rate of 9.5 percent in the City is imposed upon the sale of tangible goods, with exemptions for
certain essentials like groceries and prescription drugs. 2019-20 and 2020-21 estimates reflect growth assumed
for the pandemic and recession as provided by the City's sales tax consultant. After the development of these
estimates, the State granted 1) a three-month extension to sales tax filers; and 2) a payment plan of up to $50,000
in sales tax liability over a 12-month period for certain filers. The reduction to receipts will be realized before the
close of 2019-20 and the impact from extended payments would continue until 2021-22. The budget used
estimates between the most-likely and conservative scenarios. While the consultant subsequently identified $95
million in total possible deferral, it is unclear how many qualified businesses will take in the deferral.

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