Page 57 - FY 2021--22 Revenue Outlook

17.5% JUN 22 automation

2021-22 DEC 21 MAR 22 March. City the economy. and subsequent

-7.2% SEP 21 JUN 21

-5% MAR 21

-2% DEC 20
Change in City Sales Tax Receipts by Quarter
-13% SEP 20
-4.3% -10% JUN 20

5% MAR 20
0% DEC 19
14% SEP 19

9.7% 4% JUN 19

7% MAR 19
Sales Tax 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 10% 8% DEC 18 SEP 18 Quarter Ending The year-over-year drop in receipts bottomed out at 18.1 percent in February. Other quarterly variations from trends can be attributed to delayed remittances and the changes to the tax allocation schedule that began with the State's implementation of a new sales tax 48
Forecasted Change in Sales Tax Receipts by Quarter
Actual Change in Sales Tax Revenue by Quarter

5% 2.2% 3% 3% -4% JUN 18 SEP 17 DEC 17 MAR 18 The City's fiscal year sales tax revenue (July-June) is derived from taxable sales between April of the previous fiscal year and sales tax revenue for the current fiscal year-to-date is 14.6 percent below prior year receipts, due to the pandemic's impact on system in the quarter ending in June 2018, the State's first extension for sales tax filings in the quarter endin
Actual and Estimated Annual Growth 2.5% 4% 4% 3% 0% JUN 17 SEP 16 DEC 16 MAR 17 recovery of these receipts in the quarter ending in September 2020. Forecasted quarterly and annual growth are provided by the City's sales tax consultant.

2.5%

1% 3% 2% JUN 16 DEC 15 MAR 16
3% SEP 15

21% 18% 15% 12% 9% 6% 3% 0% -3% -6% -9% -12% -15% Percent Change from Same Quarter of Prior Year