Finance Committee Agenda and Packet 2021 08 23

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SUBJECT: SALES TAX REPORTS FOR THE MONTH & QUARTER ENDED JUNE 30, 2021 DATE: AUGUST 23, 2021 PAGE 3 OF 3 The Food/Beverage, Services (which includes Hotels), Building Materials, All Other, and Merchandise industry sectors ended up through June 2021. Communications/Utilities and Grocery declined compared to Q-2 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-2 2021. The Food/Beverage, Building Materials, Merchandise, Services (which includes Hotels), Manufacturing, Furniture, and Wholesale industry sectors ended up compared to Q-2 2020. The most impacted industry sectors are Communications/Utilities and Grocery. The last set of Quarterly Revenue by Industry sales tax reports separate Inside -City and Outside -City sales tax revenue. Through June 2021, Inside -City sales tax revenue has increased 12.2% compared to the same period in 2020 and is an improvement from Q-4 2020's 8.5% decrease. Increases continue across the board with the exception of Grocery. Variance noted in Finance/Leasing is due to the 2020 reclassification of revenue reported as sales tax instead of consumer use tax in error. Through June 2021, Outside -City sales tax revenue has increased 15.2% compared to the same period in 2020. Increases remain across the board with declines in Communications/Utilities and Finance/Leasing. The Restaurant Revenue graphs through June 2021 reflect continued improvement for all areas since April 2020. The June 2021 decrease noted in the McCaslin area is due mainly to missing sales tax filings. The Q-2 Historical Sales Tax Report reflects the second quarter of 2021 ended 26.0% higher than the second quarter of 2020. FINANCE COMMITTEE COMMUNICATION 61