Page 56 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Sales Tax
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 35,137 46,392 52,587 44,695 48,030 3,335 48,030 42,564
AUGUST 46,335 39,560 48,370 44,780 33,095 (11,685) 33,095 44,943
SEPTEMBER 51,765 57,841 48,328 45,910 50,053 4,143 50,053 51,848
OCTOBER 35,018 54,699 51,413 46,490 51,433 4,943 51,433 53,591
NOVEMBER 46,993 45,427 52,604 46,600 37,743 (8,857) 37,743 56,587
DECEMBER 54,916 50,759 47,151 47,690 43,181 (4,509) 43,181 54,139
JANUARY 37,648 46,635 45,680 48,310 46,032 (2,278) 46,032 55,914
FEBRUARY 50,449 54,870 67,236 48,410 37,871 (10,539) 37,871 59,040
MARCH 50,788 47,545 42,988 45,640 42,387 (3,253) 42,387 45,685
APRIL 32,623 45,278 37,399 46,220 42,726 47,340
MAY 46,607 47,889 23,757 46,320 42,115 49,987
JUNE 41,478 44,549 38,725 45,990 41,474 44,972
TOTAL $ 529,757 $ 581,443 $ 556,237 $ 557,055 $ 516,140 $ 606,610
% Change 1.8% 9.8% -4.3% 0.1% -7.2% 17.5%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 35,137 46,392 52,587 44,695 48,030 3,335 48,030 42,564
AUGUST 81,472 85,951 100,957 89,475 81,125 (8,350) 81,125 87,507
SEPTEMBER 133,237 143,792 149,285 135,385 131,178 (4,207) 131,178 139,355
OCTOBER 168,255 198,491 200,698 181,875 182,611 736 182,611 192,946
NOVEMBER 215,248 243,919 253,302 228,475 220,354 (8,121) 220,354 249,533
DECEMBER 270,164 294,678 300,453 276,165 263,535 (12,630) 263,535 303,672
JANUARY 307,812 341,313 346,133 324,475 309,567 (14,908) 309,567 359,586
FEBRUARY 358,261 396,182 413,369 372,885 347,438 (25,447) 347,438 418,626
MARCH 409,049 443,727 456,356 418,525 389,825 (28,700) 389,825 464,311
APRIL 441,672 489,005 493,755 464,745 432,551 511,651
MAY 488,279 536,894 517,513 511,065 474,666 561,638
JUNE 529,757 581,443 556,237 557,055 516,140 606,610

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. The 2019-20 and 2020-21 actual and revised revenue
reflect the impact of pandemic-related business closures, the resulting recession, and the State's tax relief
measures. In contrast with recessions driven by the contraction of the defense industry or the collapse of the
housing market, the 2021-22 estimate reflects higher growth for recovery from the pandemic business closures
and recession. However, proposed receipts are only 4.3 percent above the pre-pandemic revenue realized in
2018-19.

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