Page 57 - FY 2022-23 Revenue Outlook

5.9% JUN 23 MAR 23 March. City the economy. automation and subsequent

2021-22 2022-23 40.8% 26.8% SEP 22 JUN 22 DEC 22 MAR 22

Change in City Sales Tax Receipts by Quarter
29.7% 24.7% SEP 21 DEC 21
35.0% -5.7% JUN 21

-19.0% MAR 21
2018-19 2019-20 2020-21
-12.4% DEC 20

-12.1% SEP 20
4.6% -4.3% -27.5% JUN 20 MAR 20
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Sales Tax \_ 14.1% A e / 0.2% SEP 19 DEC 19 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 45
Forecasted Change in Sales Tax Receipts by Quarter
Actual Change in Sales Tax Revenue by Quarter
9.8%

7.2% 10.2% 7.9% 3.8% JUN 19 DEC 18 MAR 19 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 ending in Ju
Actual and Estimated Annual Growth 2.2% 2.7% 3.3% 4.7% · v - -· -3.7% JUN 18 DEC 17 SEP 18 MAR 18 Forecasted quarterly and annual growth are provided by the City's sales tax consultant.

2016-17 2017-18 IL~- - =--=- 2.5% -·---· 4.0% 4.4% 2.9%· . SEP 17 JUN 17 DEC 16 MAR 17 recovery of these receipts in the quarter ending in September 2020.

42% 36% 30% 24% 18% 12% 6% 0% 0.4% -6% -12% -18% -24% -30% Percent Change from Same Quarter of Prior Year SEP 16