HomeMy WebLinkAbout2024-03_MAR_Treasurer_TCC related_RevenueReports as of 04152024JEFFERSON COUNTY TREASURER
PO Box 571, Port Townsend WA 98368 Email: TreasurerStaff@co.jefferson.wa.us Web: www.co.jefferson.wa.us Stacie Prada – Treasurer (360) 385-9150 Chief Deputy Thomas Goodworth (360) 385-9153
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JEFFERSON COUNTY BUDGET COMMITTEE
Treasurer’s March 2024 Revenue Report
• General Fund at $5,475,861 – 20.3% of the annual budget. PUD Privilege Tax was $494,176 and 13.6%
over budget. The second sheet shows general fund revenue charts showing 2015-2024 detail and percentage of actual full year collections.
• Other Funds at $11,877,596 – 16% of annual budget. Funds are grouped at the top by fund type, and
YTD percentages are provided. The graph on the second page shows the full year and YTD percentage lines.
• General Fund Cash Balance - $8,880,712 at month end and with reserve of $4,417,206. The non-reserve
cash balance was $4,463,506. The reserve will increase $72,225 with the proposed 1st Quarter
appropriations.
• General Sales Tax Receipts - $465,371 General and Optional and Special Purpose Sales Tax for the
month. Cumulatively, this is 4% under budget and 1.6% over 2023 actual. Early end of year projection is
$284,000 under budget.
• Sales Tax by Sector: Positive percentages are increases over last year to date, negative are decreases.
Color shading is white for zero, green for positive and red for negative.
• REET Receipts - Fund 302 - $78,509 for the month which is 35% under budget for the month and 29% less than this month last year. It’s early for end of year projection, but it calculates to $403,000 under
budget. There were three sales over $1 million in unincorporated Jefferson County compared to four this
month last year.
• Hotel/Motel Lodging Tax – Fund 125 - $33,816 this month which is 27% under budget and 53% less than
this month last year. Cumulatively, YTD is 13% under budget and 32% less than last year. End of year
projection is currently $95,775 under budget.
Year Period Month Preliminary Updated20243MarchNo2/22/2024JanuaryFebruaryMarchAprilMayJune July August September October November December Full YTD Period YTD
Public Safety Tax 117,349$ 131,466$ 105,587$ 354,402 354,402
Regular & Optional Tax 413,453$ 433,378$ 359,784$ 1,206,615 1,206,615
2024 Actual 530,802$ 564,844$ 465,371$ 1,561,017$ 1,561,017 2024 ActualCumulative Actual YTD 530,802$ 1,095,645$ 1,561,017$ 1,561,017$ 1,561,017 Cumulative Actual YTD
Monthly Budget 534,473$ 599,201$ 492,053$ 489,389$ 587,456$ 539,842$ 613,705$ 687,137$ 646,819$ 659,993$ 700,367$ 595,866$ 7,146,301$ 1,625,726 Monthly Budget
Cumulative Budget YTD 534,473$ 1,133,674$ 1,625,726$ 2,115,116$ 2,702,572$ 3,242,414$ 3,856,119$ 4,543,256$ 5,190,075$ 5,850,067$ 6,550,435$ 7,146,301$ 7,146,301$ 1,625,726 Cumulative Budget YTDFour Year Average 2020-23 443,068$ 496,726$ 407,902$ 405,695$ 486,990$ 447,518$ 508,750$ 569,624$ 536,201$ 547,121$ 580,591$ 493,962$ 5,924,147$ 1,347,696 Four Year Average 2020-23
% Budget Difference -0.7%-5.7%-5.4% -4.0%% Budget Difference
% Difference Prior Year 3.2%6.0%-4.8% 1.6%% Difference Prior Year
Cumulative % of Expected 99.3%96.6%96.0% 96.0%Cumulative % of Expected
EOY Projection $7,097,217 $6,906,585 $6,861,852 $6,861,852 EOY ProjectionProjection +/- EOY Budget (49,084)$ (239,716)$ (284,449)$ (284,449)$ Projection +/- EOY Budget
Row Labels January February March April May June July August September October November December Full Year YTD FY Actual/ CY Budget YTD Change Annual % Change
2012 212,977 309,445 183,633 196,041 237,965 211,904 238,190 286,302 333,816 305,825 308,062 258,729 3,082,889 706,056 3,082,8892013262,641 345,431 288,128 259,808 292,382 250,194 282,394 333,477 301,305 321,904 329,035 257,129 3,523,830 896,201 3,523,830 26.93%14.30%
2014 260,918 330,514 239,927 233,504 271,428 237,441 264,253 353,305 319,722 315,176 350,221 294,517 3,470,928 831,360 3,470,928 -7.24%-1.50%2015 249,161 362,057 249,278 255,118 312,306 294,093 280,545 385,259 347,803 362,562 370,725 299,436 3,768,342 860,496 3,768,342 3.50%8.57%
2016 282,001 402,506 298,275 280,519 350,012 306,482 320,656 421,767 377,132 390,715 442,704 325,759 4,198,527 982,782 4,198,527 14.21%11.42%
2017 287,441 466,132 291,547 293,713 380,789 317,063 358,342 443,418 370,548 405,582 431,186 335,743 4,381,504 1,045,120 4,381,504 6.34%4.36%
2018 319,554 430,723 317,798 266,316 355,788 323,647 343,606 406,836 404,786 402,305 409,120 364,274 4,344,754 1,068,075 4,344,754 2.20%-0.84%
2019 337,549 409,218 312,572 274,725 383,925 340,499 398,407 462,808 414,341 431,890 469,051 430,895 4,665,880 1,059,339 4,665,880 -0.82%7.39%2020 387,987 457,015 324,431 319,060 342,896 312,261 409,818 442,796 468,330 466,248 471,390 391,361 4,793,593 1,169,433 4,793,593 10.39%2.74%
2021 416,647 485,175 372,716 392,328 498,590 459,162 502,317 565,446 508,542 514,331 548,619 461,986 5,725,858 1,274,537 5,725,858 8.99%19.45%2022 453,289 511,701 445,815 429,083 548,896 512,291 531,792 596,487 557,179 591,164 627,288 555,290 6,360,276 1,410,805 6,360,276 10.69%11.08%
2023 514,349 533,013 488,648 482,307 557,578 506,360 591,072 673,765 610,751 616,743 675,067 567,210 6,816,863 1,536,010 940,745 8.87%7.18%
2024 530,802 564,843.62 465,371 1,561,017 1,561,017 7,146,301 1.63%-77.10%
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
General & Optional and Special Purpose Sales Tax -General Fund
December
November
October
September
August
July
June
May
April
March
February
January
2024
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2024 Monthly Actual and Budget
2024 Actual Monthly Budget
$(1,000,000)
$-
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
2024 YTD Actual and Budget
Cumulative Actual YTD Cumulative Budget YTD Projection +/- EOY Budget
March
Year Period Month Preliminary Updated20243Marchno4/15/2024
January February March April May June July August September October November December Full Year YTD 2024 Actual 38,325 38,180 33,816 110,321 110,321 2024 ActualCumulative Actual YTD 38,325 76,505 110,321 110,321 110,321 Cumulative Actual YTD
Monthly Budget 36,844 43,439 46,567 67,206 48,303 48,370 60,886 78,984 93,892 71,020 85,605 53,883 735,000 126,850 Monthly BudgetCumulative Budget YTD 36,844 80,283 126,850 194,056 242,359 290,729 351,616 430,600 524,493 595,512 681,117 735,000 735,000 126,850 Cumulative Budget YTDFour Year Average 2020-23 37,047 43,679 46,825 67,577 48,569 48,638 61,223 79,421 94,411 71,412 86,078 54,180 739,059 127,551 Four Year Average 2020-23
% Budget Difference 4.0%-12.1%-27.4% -13.0%% Budget Difference
% Difference Prior Year -0.7%-27.6%-52.5% -32.1%% Difference Prior Year
Cumulative % of Expected 104.0%95.3%87.0% 87.0%Cumulative % of ExpectedEOY Projection $764,543 $700,413 $639,225 $639,225 EOY ProjectionProjection +/- EOY Budget 29,543$ (34,587)$ (95,775)$ (95,775)$ Projection +/- EOY Budget
Row Labels January February March April May June July August September October November December Full Year YTD FY Actual/ CY Budget YTD Change Annual % Change201211,997 23,143 7,223 14,905 17,099 17,873 20,148 31,118 40,826 40,960 36,847 11,051 273,190 42,362 273,190
2013 8,781 38,213 11,203 11,365 17,962 16,439 21,478 33,106 39,854 41,706 39,128 15,477 294,712 58,197 294,712 37.38%7.88%
2014 13,531 30,316 12,683 12,399 19,122 18,759 24,511 37,504 42,319 43,628 46,846 33,825 335,445 56,531 335,445 -2.86%13.82%
2015 17,011 36,087 14,296 14,983 23,824 25,022 27,654 48,797 44,665 49,122 49,494 25,149 376,104 67,394 376,104 19.22%12.12%2016 18,367 50,911 14,394 18,349 29,299 29,334 33,479 56,189 53,335 59,800 57,838 25,904 447,197 83,672 447,197 24.15%18.90%2017 19,178 52,820 16,661 20,634 37,947 31,162 38,074 64,460 56,182 58,058 68,607 32,423 496,206 88,659 496,206 5.96%10.96%
2018 22,595 45,060 18,800 23,064 40,397 35,892 43,755 64,218 45,772 52,653 49,196 41,523 482,924 86,455 482,924 -2.49%-2.68%
2019 28,818 40,024 24,277 21,725 40,545 42,350 47,890 69,625 87,496 59,893 64,164 41,781 568,587 93,120 568,587 7.71%17.74%
2020 31,209 33,264 28,921 28,566 11,197 534 22,715 41,591 75,131 78,437 75,232 54,416 481,213 93,394 481,213 0.29%-15.37%2021 38,926 45,230 46,407 43,406 65,962 69,433 70,727 85,104 90,608 67,898 102,437 53,063 779,201 130,563 779,201 39.80%61.92%2022 39,469 43,485 40,798 55,440 60,887 64,214 82,763 99,377 113,178 46,239 87,443 59,924 793,215 123,751 793,215 -5.22%1.80%
2023 38,585 52,738 71,172 142,897 56,232 60,370 68,684 91,609 98,727 93,073 79,199 49,318 902,606 162,495 940,745 31.31%13.79%
2024 38,325 38,180 33,816 110,321 110,321 735,000 -32.11%-87.78%
2% Basic RCW 67.28.180 2% Special RCW 67.28.181(1).11% Total sales tax paid on a lodging charges for periods of less than 30 consecutive days
Revenue reflects 2% "basic" as a credit against 6.5% state sales tax, 2% "special" tax levied locally, interest on amounts held at DOR until disbursement, and 1% Admin fee from DOR. Only received for Unincorporated Jefferson CountyRevenue is reported one month after reporting to DOR. It typically reflects collections for activity from two months prior to distribution. Some businesses may report quarterly or annually.
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Special Hotel/Motel & Transient Rental Sales Tax -Fund 125
December
November
October
September
August
July
June
May
April
March
February
January
2024
- 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000
2024 Monthly Actual and Budget
2024 Actual Monthly Budget
(200,000)
(100,000)
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
2024 YTD Actual and Budget
Cumulative Actual YTD Cumulative Budget YTD Projection +/- EOY Budget
March