Finance Committee Agenda and Packet 2021 05 17

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SUBJECT: SALES TAX REPORTS FOR THE MONTH & QUARTER ENDED MARCH 31, 2021 DATE: MAY 17, 2021 PAGE 3 OF 3 4 Again, sales in the Technologies sector (computer hardware & software) represent the majority of the gains in General Merchandise. The increase in Manufacturing is due mainly to In -City Manufacturing sales. The first Quarterly Revenue by Industry sales tax report through first quarter 2021 represents (13) industry sectors that have been grouped into (7) major categories and are color -coded. The Building Materials, All Other, and Merchandise industry sectors ended up through March 2021. Grocery, Communications/Utilities and Services (which includes Hotels) declined compared to Q-1 2020. As with the revenue by area reports, a second more granular year-to-date sales tax report by industry sector has been provided through Q-1 2021. The Building Materials, Merchandise, Manufacturing, Finance/Leasing, Furniture, and Wholesale industry sectors ended up. The most impacted industry sectors are Grocery, Communications/Utilities, and Services. The last set of Quarterly Revenue by Industry sales tax reports separate Inside -City and Outside -City sales tax revenue. Through March 2021, Inside -City sales tax revenue has increased 0.8% compared to the same period in 2020 and is an improvement from Q-4 2020's 8.5% decrease. Declines continue across the board with the exception of Building Materials/Construction, Manufacturing, Furniture, Wholesale, and Automotive categories. The positive amount for Finance/Leasing is due to the 2020 reclassification of revenue reported as sales tax instead of consumer use tax in error. Through March 2021, Outside -City sales tax revenue has decreased 0.9% compared to the same period in 2020. Increases remain across the board with declines in Communications/Utilities, Services and Finance/Leasing. The Restaurant Revenue graphs through March 2021 reflect continued improvement for all areas since April 2020. The first quarter trend noted in the SBR/Hwy 42 area is due mainly to several missing sales tax filings. The Q-1 Historical Sales Tax Report reflects the first quarter of 2021 ended 0.1% higher than the first quarter of 2020. FINANCE COMMITTEE COMMUNICATION 12