Finance Committee Agenda and Packet 2020 08 18

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SUBJECT: SALES TAX REPORTS FOR THE MONTH ENDED JUNE 30, 2020 DATE: AUGUST 18, 2020 PAGE 2 OF 3 The monthly and year-to-date sales tax revenue by area reports represent the YTD retail health of various quadrants of the City. These reports include all vendors remitting tax to the City. The Monthly Revenue by Area sales tax report for June 2020 indicates increases for Outside City, Louisville Plaza, Hwy 42 South, South Boulder Rd., and Centennial Valley. The Interchange, McCaslin North, Downtown, CTC, Hwy 42 North, Pine Street, and South Suburban areas all decreased for the month. The increases for Outside City and Centennial Valley are in the technology sectors (computer hardware & software). The Q-2 Revenue by Area report through June 2020 is a one -page snapshot for major areas in the City. The original (13) sectors have been combined into (5) major areas, McCaslin/Western, CTC/Eastern, South Boulder Rd/Northern, Downtown/Central and Outside City. Through Q-2, Outside City and South Boulder Rd/Northern areas have continued to increase. McCaslin/Western, Downtown, and CTC/Eastern areas have declined. The YTD sales tax revenue decline for the Downtown/Central area remains unchanged from May at about 25% The second Q-2 Revenue by Area report through June 2020, provides a more granular look at individual areas of the City. Areas that have increased, remained steady, or are rebounding include, Outside City, Louisville Plaza, Hwy 42 South, South Boulder Rd, and Centennial Valley. The most impacted areas of the City through June 2020 have been, Interchange, Downtown, CTC, Pine St, and South Suburban. The monthly and year-to-date sales tax revenue by industry reports represent the retail health of individual industry sectors of the City. These reports include all vendors remitting tax to the City. The Monthly Revenue by Industry report for June 2020 indicates gains for the industries Grocery, Communications/Utilities, Building Materials, General Merchandise, Furniture, Wholesale, Automotive, and Apparel. The industries Food/Beverage, Services, Finance/Leasing, and Manufacturing, all declined for the month of June 2020. Again, one-time sales in the Technologies sector represent the majority of the gains in General Merchandise and Services. Home Improvement and Grocery remained strong, as Apparel also increased. The first Q-2 Revenue by Industry sales tax report, represents (13) industry sectors that have been grouped into (7) major categories and are color -coded. FINANCE COMMITTEE COMMUNICATION 23