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Home My WebLink About2024-06_JUNE_Treasurer_RevenueReports_TCC Hotel+GenSales v07122024JEFFERSON 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 June 2024 Revenue Report • General Fund at $15,844,311 – 58.3% of the annual budget. The second sheet shows general fund revenue charts showing 2015-2024 detail and percentage of actual full year collections. Federal PILT arrived, and historical information is included at the end of this month’s report packet. • Other Funds at $29,069,940 – 39% 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 - $12,338,051 at month end and with reserve of $4,489,431. The non-reserve cash balance was $7,848,620. • General Sales Tax Receipts - $553,896 General and Optional and Special Purpose Sales Tax for the month. Cumulatively year to date, this is 2.6% over budget and 9.4% over 2023 actual. Early end of year projection is 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 - $802,634 for the month which is 314% over budget for the month and 291% more than this month last year. While the math puts the EOY projection at $1 million over, I’m more inclined to think we might just make budget. It includes the $680k windfall from the REETA audit of a transaction in May 2020. • Hotel/Motel Lodging Tax – Fund 125 - $62,403 this month which is 29% over budget and 3% more than this month last year. Cumulatively, YTD is 8.4% under budget and 36.9% less than last year. End of year projection is currently $62,000 under budget. • DNR Timber Trust 1 – Amounts are distributed by the levy rates for the tax code areas where the timber activity occurs. Amounts are shown for full years 2017-2024 with charts of distributions by levy, by fund/district and by district type. • Payment in Lieu of Taxes (PILT): $1,924,589, Federal PILT increased 8.8% for the 2024 distribution. Deposited to the General Fund. 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 Chg22Construction111,549 101,327 10%729,392 620,186 18%109,206 100%1,576,358 Construction 12,652 7,656 65%67,401 52,684 28%14,717 54%123,442 31, 32, 33 Manufacturing 11,123 7,415 50%54,648 53,817 2%831 1%124,065 Manufacturing 881 1,048 -16%5,944 5,949 0%(5)0%14,24133Wholesale Trade 24,666 16,835 47%139,719 124,073 13%15,646 14%257,184 Wholesale Trade 3,527 3,289 7%20,330 19,026 7%1,304 5%39,634 44, 45 Retail Trade 116,899 119,810 -2%691,935 724,535 -4%(32,600)-30%1,460,509 Retail Trade 16,796 16,454 2%102,178 101,248 1%930 3%215,28348, 49 Transportation & Warehousing 1,290 678 90%6,458 6,549 -1%(91)0%12,611 Transportation and Warehousing 665 474 40%2,223 1,702 31%521 2%7,75049Information10,828 10,101 7%73,925 62,582 18%11,343 10%142,101 Information 1,163 1,050 11%7,556 7,084 7%472 2%15,693 51 Finance & Insurance 1,271 1,175 8%5,679 7,401 -23%(1,722)-2%13,264 Finance and Insurance 118 299 -61%1,087 1,533 -29%(446)-2%2,93552Real Estate, Rental & Leasing 6,509 7,186 -9%32,755 28,465 15%4,290 4%74,364 Real Estate and Rental and Leasing 506 377 34%3,799 2,073 83%1,726 6%6,865 53 Professional, Scientific & Technical Services 7,285 8,265 -12%53,847 46,170 17%7,677 7%97,610 Professional, Scientific, and Technical Services 1,033 1,110 -7%7,480 5,227 43%2,253 8%13,88555Admin & Support, Waste Mgmt & Remediation Svcs 33,596 25,464 32%170,773 158,301 8%12,472 11%357,592 Admin & Support, Waste Mgmt & Remediation Sv 2,026 1,890 7%12,810 11,874 8%936 3%26,32756Educational Services 324 350 -7%2,014 2,265 -11%(251)0%5,825 Educational Services 36 41 -12%363 363 0%0 0%882 61 Health Care and Social Assistance 101 92 10%907 773 17%134 0%1,625 Health Care and Social Assistance 131 690 -81%3,800 3,697 3%103 0%7,24462Arts, Entertainment & Recreation 1,800 1,975 -9%9,993 8,998 11%995 1%29,114 Arts, Entertainment, and Recreation 474 334 42%2,060 1,803 14%257 1%5,205 71 Accommodation & Food Services 24,431 24,234 1%117,426 154,689 -24%(37,263)-34%328,489 Accommodation and Food Services 6,660 6,376 4%33,366 31,677 5%1,689 6%84,02955, 81, 92 Public Administration & Other Services 7,376 6,182 19%46,745 43,705 7%3,040 3%96,515 Public Administration & Other Services 2,003 1,789 12%12,326 10,011 23%2,315 8%23,6700Unclassified15,779 14,636 8%84,254 76,956 9%7,298 7%208,388 Natural Resources, Utilities & Unclassified 742 866 -14%3,266 2,793 17%473 2%8,719 0 Agriculture, Forestry, Fishing & Hunting 876 -26 -3469%3,959 2,829 40%1,130 1%7,701 City of Port Townsend Totals 49,409 43,743 13%285,989 258,744 11%27,245 100%595,80411Mining, Quarrying, Oil & Gas Extraction 4,168 983 324%13,012 6,547 99%6,465 6%35,241 Totals for Jefferson County and City of PT added together equal the total sales tax revenue received by Jefferson Co. 21 Utilities 64 3,289 -98%11,945 11,306 6%639 1%26,428 NAICS & SIC Identification Tools page https://www.naics.com/search/Jefferson County, WA Totals 379,937 349,971 9%2,249,386 2,140,147 5%109,239 100%4,854,984 $429,346.00 Calculated General & Optional Sales Tax Revenue to Jefferson County for this period 429,345.45$ Amount from distribution$0.55 variance0.000128% Sales Tax Revenue by Sector %$%$ All Sales YTD 5%109,239 11%27,245 RETAIL YTD -4%(32,600) 1%930 CONSTRUCTION YTD 18%109,206 28%14,717 ACCOMMODATION & FOOD SERVICES YTD -24%(37,263) 5%1,689 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 10%50%47% -2% 90% 7%8% -9%-12% 32% -7% 10% -9% 1%19%8% 324% -98% -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 65% -16% 7%2%40%11% -61% 34% -7% 7% -12%-81% 42%4%12% -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 InformationFinance & 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 ExtractionUtilities Unincorporated Jefferson County, WA Sales Tax by Sector Distribution in May 2024 Year Period Month Preliminary Updated20246JuneNo7/12/2024 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