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Home My WebLink About2024-05_MAY_Hotel-LTAC_RevenueReports_v06242024JEFFERSON 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 Page | 1 JEFFERSON COUNTY BUDGET COMMITTEE Treasurer’s May 2024 Revenue Report • General Fund at $12,730,941 – 46.9% of the annual budget. The second sheet shows general fund revenue charts showing 2015-2024 detail and percentage of actual full year collections. • Other Funds at $22,194,731 – 29.7% 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 - $11,480,395 at month end and with reserve of $4,489,431. The non-reserve cash balance was $6,780,918. • General Sales Tax Receipts - $625,344 General and Optional and Special Purpose Sales Tax for the month. Cumulatively year to date, this is 0.4% under budget and 5.4% over 2023 actual. Early end of year projection is $31,131 over budget. *Preliminary numbers are provided for June that put end of year almost $57,000 over 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 - $105,390 for the month which is 29% under budget for the month and 36% less than this month last year. It’s early for end of year projection, but it calculates to $552,888 under budget. There was one sale over $1 million in unincorporated Jefferson County this month compared to six last year. • Hotel/Motel Lodging Tax – Fund 125 - $52,203 this month which is 8% over budget and 7% less than this month last year. Cumulatively, YTD is 16% under budget and 43.7% less than last year. End of year projection is currently $117,000 under budget. *Preliminary numbers are provided for June that put end of year approximately $62,000 under budget. City of Port Townsend This Year Last Year % Chg This Year Last Year % Chg $ Chg % Tot Chg This Year Last Year % Chg This Year Last Year % Chg $ Chg % Tot Chg22Construction166,726 136,406 22%617,843 518,859 19%98,984 125%1,566,136 Construction 12,567 6,622 90%54,749 45,028 22%9,721 45%118,446 31, 32, 33 Manufacturing 10,928 11,134 -2%43,523 46,403 -6%(2,880)-4%120,355 Manufacturing 753 1,144 -34%5,063 4,901 3%162 1%14,40933Wholesale Trade 24,505 21,827 12%115,054 107,237 7%7,817 10%249,353 Wholesale Trade 3,461 2,530 37%16,803 15,736 7%1,067 5%39,396 44, 45 Retail Trade 117,783 127,261 -7%575,036 604,725 -5%(29,689)-37%1,463,419 Retail Trade 17,330 17,561 -1%85,383 84,793 1%590 3%214,94148, 49 Transportation & Warehousing 1,579 1,726 -9%5,168 5,871 -12%(703)-1%11,999 Transportation and Warehousing 407 436 -7%1,558 1,230 27%328 2%7,55749Information14,606 10,171 44%63,097 52,482 20%10,615 13%141,373 Information 1,386 1,193 16%6,392 6,034 6%358 2%15,579 51 Finance & Insurance 1,080 -6,570 -116%4,409 6,226 -29%(1,817)-2%13,168 Finance and Insurance 139 -1,311 -111%970 1,235 -21%(265)-1%3,11552Real Estate, Rental & Leasing 5,368 4,241 27%26,245 21,280 23%4,965 6%75,041 Real Estate and Rental and Leasing 1,030 359 187%3,294 1,695 94%1,599 7%6,737 53 Professional, Scientific & Technical Services 9,614 7,174 34%46,562 37,905 23%8,657 11%98,590 Professional, Scientific, and Technical Services 1,532 861 78%6,447 4,117 57%2,330 11%13,96255Admin & Support, Waste Mgmt & Remediation Svcs 29,098 28,885 1%137,177 132,837 3%4,340 5%349,460 Admin & Support, Waste Mgmt & Remediation Sv 2,279 2,142 6%10,784 9,984 8%800 4%26,19256Educational Services 391 833 -53%1,690 1,915 -12%(225)0%5,851 Educational Services 123 79 56%327 322 2%5 0%887 61 Health Care and Social Assistance 196 259 -24%805 681 18%124 0%1,615 Health Care and Social Assistance 900 584 54%3,669 3,007 22%662 3%7,80362Arts, Entertainment & Recreation 2,492 1,655 51%8,193 7,023 17%1,170 1%29,289 Arts, Entertainment, and Recreation 405 438 -8%1,586 1,469 8%117 1%5,065 71 Accommodation & Food Services 23,488 23,647 -1%92,995 130,455 -29%(37,460)-47%328,292 Accommodation and Food Services 5,769 5,694 1%26,706 25,301 6%1,405 7%83,74455, 81, 92 Public Administration & Other Services 8,353 9,547 -13%39,369 37,523 5%1,846 2%95,321 Public Administration & Other Services 2,624 2,004 31%10,324 8,222 26%2,102 10%23,4560Unclassified13,762 16,761 -18%68,475 62,320 10%6,155 8%207,245 Natural Resources, Utilities & Unclassified 513 659 -22%2,526 1,927 31%599 3%8,844 0 Agriculture, Forestry, Fishing & Hunting 1,029 1,072 -4%3,083 2,856 8%227 0%6,798 City of Port Townsend Totals 51,218 40,995 25%236,581 215,001 10%21,580 100%590,13311Mining, Quarrying, Oil & Gas Extraction 5,585 1,181 373%8,845 5,564 59%3,281 4%32,056 Totals for Jefferson County and City of PT added together equal the total sales tax revenue received by Jefferson Co. 21 Utilities 93 1,088 -91%11,880 8,017 48%3,863 5%29,652 NAICS & SIC Identification Tools page https://www.naics.com/search/Jefferson County, WA Totals 436,676 398,298 10%1,869,449 1,790,179 4%79,270 100%4,825,013 $487,894.00 Calculated General & Optional Sales Tax Revenue to Jefferson County for this period 487,893.45$ Amount from distribution$0.55 variance0.000113% Sales Tax Revenue by Sector %$%$ All Sales YTD 4%79,270 10%21,580 RETAIL YTD -5%(29,689) 1%590 CONSTRUCTION YTD 19%98,984 22%9,721 ACCOMMODATION & FOOD SERVICES YTD -29%(37,460) 6%1,405 Unincorp Jefferson County City of Port Townsend NAICS CODE Current Period Year to Date Last 12 Months 1600, 1650, 1603, 1604 Jefferson County Jefferson County Year to DateCurrent Period Last 12 Months 1601, 1651 22% -2% 12% -7%-9% 44% -116% 27%34%1% -53%-24% 51% -1%-13%-18%-4% 373% -91% -600% -400% -200% 0% 200% 400% 600% -170,000 -120,000 -70,000 -20,000 30,000 80,000 130,000 Jefferson County Amounts and Percentage Change from last year This Year Last Year % Chg 1600, 1650, 1603, 1604 90% -34% 37% -1%-7% 16% -111% 187% 78%6%56%54% -8% 1%31% -600% -400% -200% 0% 200% 400% 600% -20,000 -15,000 -10,000 -5,000 0 5,000 10,000 15,000 20,000 City of PT Amounts and Percentage Change from last year This Year Last Year % Chg 1601, 1651 Construction Manufacturing Wholesale Trade Retail Trade Transportation and Warehousing InformationFinance and Insurance Real Estate and Rental and Leasing Professional, Scientific, and Technical Services Admin & Support, Waste … Educational Services Health Care and Social Assistance Arts, Entertainment, and Recreation Accommodation and Food Services Public Administration & Other Services Natural Resources, Utilities & Unclassified City of Port Townsend, WA Construction Manufacturing Wholesale Trade Retail Trade Transportation & Warehousing Information Finance & Insurance Real Estate, Rental & Leasing Professional, Scientific & Technical Services Admin & Support, Waste Mgmt & Remediation Svcs Educational Services Health Care and Social Assistance Arts, Entertainment & Recreation Accommodation & Food Services Public Administration & Other Services Unclassified Agriculture, Forestry, Fishing & Hunting Mining, Quarrying, Oil & Gas Extraction Utilities Unincorporated Jefferson County, WA Sales Tax by Sector Distribution in May 2024 Year Period Month Preliminary Updated20245MayNo6/24/2024 January February March April May June July August September October November December Full Year YTD Special Hotel/Motel Tax 19,082 19,007 16,880 20,610 26,072 31,152 132,804 101,652 Transient Rental (State Share)19,242 19,173 16,937 20,642 26,130 31,250 133,374 102,124 2024 Actual 38,325 38,180 33,816 41,252 52,203 62,403 266,178 203,775 2024 Actual Cumulative Actual YTD 38,325 76,505 110,321 151,572 203,775 266,178 266,178 203,775 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 53,883 735,000 242,359 Monthly Budget Cumulative Budget YTD 36,844 80,283 126,850 194,056 242,359 290,729 351,616 430,600 524,493 595,512 681,117 735,000 735,000 242,359 Cumulative Budget YTD Four 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 54,180 739,059 243,697 Four Year Average 2020-23 % Budget Difference 4.0%-12.1%-27.4%-38.6%8.1%29.0% -15.9%% Budget Difference% Difference Prior Year -0.7%-27.6%-52.5%-71.1%-7.2%3.4% -43.7%% Difference Prior Year Cumulative % of Expected 104.0%95.3%87.0%78.1%84.1%91.6% 84.1%Cumulative % of Expected EOY Projection $764,543 $700,413 $639,225 $574,090 $617,988 $672,931 $617,988 EOY ProjectionProjection +/- EOY Budget 29,543$ (34,587)$ (95,775)$ (160,910)$ (117,012)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (117,012)$ 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 11,997 23,143 7,223 14,905 17,099 17,873 20,148 31,118 40,826 40,960 36,847 11,051 273,190 74,366 273,190 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 87,525 294,712 17.69%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 88,052 335,445 0.60%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 25,149 376,104 106,201 376,104 20.61%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 25,904 447,197 131,319 447,197 23.65%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 32,423 496,206 147,239 496,206 12.12%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 41,523 482,924 149,916 482,924 1.82%-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 41,781 568,587 155,390 568,587 3.65%17.74%2020 31,209 33,264 28,921 28,566 11,197 534 22,715 41,591 75,131 78,437 75,232 54,416 481,213 133,157 481,213 -14.31%-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 53,063 779,201 239,931 779,201 80.19%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 59,924 793,215 240,077 793,215 0.06%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 49,318 902,606 361,624 940,745 50.63%13.79%2024 38,325 38,180 33,816 41,252 52,203 62,403 266,178 203,775 735,000 -43.65%-70.51% 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 County Revenue 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 (300,000) (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 May Year Period Month Preliminary Updated20246JuneYes6/24/2024 January February March April May June July August September October November December Full Year YTD Special Hotel/Motel Tax 19,082 19,007 16,880 20,610 26,072 31,152 132,804 132,804 Transient Rental (State Share)19,242 19,173 16,937 20,642 26,130 31,250 133,374 133,374 2024 Actual 38,325 38,180 33,816 41,252 52,203 62,403 266,178 266,178 2024 Actual Cumulative Actual YTD 38,325 76,505 110,321 151,572 203,775 266,178 266,178 266,178 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 53,883 735,000 290,729 Monthly Budget Cumulative Budget YTD 36,844 80,283 126,850 194,056 242,359 290,729 351,616 430,600 524,493 595,512 681,117 735,000 735,000 290,729 Cumulative Budget YTD Four 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 54,180 739,059 292,335 Four Year Average 2020-23 % Budget Difference 4.0%-12.1%-27.4%-38.6%8.1%29.0% -8.4%% Budget Difference% Difference Prior Year -0.7%-27.6%-52.5%-71.1%-7.2%3.4% -36.9%% Difference Prior Year Cumulative % of Expected 104.0%95.3%87.0%78.1%84.1%91.6% 91.6%Cumulative % of Expected EOY Projection $764,543 $700,413 $639,225 $574,090 $617,988 $672,931 $672,931 EOY ProjectionProjection +/- EOY Budget 29,543$ (34,587)$ (95,775)$ (160,910)$ (117,012)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ (62,069)$ 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 11,997 23,143 7,223 14,905 17,099 17,873 20,148 31,118 40,826 40,960 36,847 11,051 273,190 92,239 273,190 2013 8,781 38,213 11,203 11,365 17,962 16,439 21,478 33,106 39,854 41,706 39,128 15,477 294,712 103,964 294,712 12.71%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 33,825 335,445 106,811 335,445 2.74%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 25,149 376,104 131,223 376,104 22.86%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 25,904 447,197 160,653 447,197 22.43%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 32,423 496,206 178,400 496,206 11.05%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 41,523 482,924 185,808 482,924 4.15%-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 41,781 568,587 197,739 568,587 6.42%17.74%2020 31,209 33,264 28,921 28,566 11,197 534 22,715 41,591 75,131 78,437 75,232 54,416 481,213 133,690 481,213 -32.39%-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 53,063 779,201 309,364 779,201 131.40%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 59,924 793,215 304,291 793,215 -1.64%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 49,318 902,606 421,994 940,745 38.68%13.79%2024 38,325 38,180 33,816 41,252 52,203 62,403 266,178 266,178 735,000 -36.92%-70.51% 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 County Revenue 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 (300,000) (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 June Preliminary