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 3 OF 3 Most major industry sectors ended up or steady through June 2020, but there were sustained declines for Food/Beverage and Services (which includes Hotels). The All Other Retail sector (which includes manufacturing, furniture, wholesale, automotive, apparel and agriculture) finished down slightly through June 2020. As with the revenue by area reports, a second more granular year-to-date sales tax report by industry sector has been provided for Q-2. This report reflects gains or steady revenue for all industry sectors except Food/Beverage, Services, and Manufacturing. The last set of Q-2 reports by industry, separate Inside -City and Outside -City sales tax revenue. Through June 2020, Inside -City sales tax revenue has decreased 7.4%. Declines are across the board with the exception of Grocery, Building Materials, and Automotive categories. The negative amount for Finance/Leasing is due to the reclassification of revenue reported as sales tax instead of consumer use tax in error. Through June 2020, Outside -City sales tax revenue has increased 18.9%. Increases remain across the board with some decline in Services and Manufacturing. The Restaurant Revenue graphs through June 2020, reflect a continued upward trend for most areas. Some areas have returned to pre-COVID revenues such as SBR/Hwy 42, and Louisville Plaza. McCaslin is on the rise along with the Interchange, however, the Downtown area is recovering at a slower rate. The Q-2 Historical Sales Tax Report reflects the second quarter of 2020 ended 4.9% lower than the second quarter of 2019. FINANCE COMMITTEE COMMUNICATION 24