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To: DL-Council <Council@everettwa.gov> <br /> Cc: Cassie Franklin<CFranklin@everettwa.gov>; Lyle Ryan <LRyan@everettwa.gov>; Paul Kaftanski <br /> <PKaftanskiPeverettwa.gov>; Nick Harper<NHarper@everettwa.gov>; Susy Haugen <SHaugen@everettwa.gov>;Jim <br /> Iles<Jlles@everettwa.gov> <br /> Subject: FW: Marijuana Revenue <br /> City Council—at the city council briefing on the code amendment to allow the potential for more recreational marijuana <br /> retail stores,there was a question about revenues the City receives from recreational marijuana businesses. Below is <br /> Susy Haugen's message about the various revenues the City receives. <br /> Please feel free to contact me if you have additional questions. <br /> CELEBRATING <br /> �j- i Allan Gillen <br /> %fes II 12c; Director 1 Community Planning and Economic Development <br /> I YEARS 425.257.8725 1 2930 Wetmore Ave., Everett,WA 98201 <br /> A story worth telling everettwa.gov/planning 1 Facebook 1 Twitter <br /> From:Susy Haugen <br /> Sent: Monday, May 7, 2018 11:20 AM <br /> To:Allan Giffen <AGiffen@everettwa.gov> <br /> Subject: Marijuana Revenue <br /> Hi Allan, <br /> In 2017,the City received $162,466 in sales and B&O taxes. We also received $113,147 in state shared revenues. <br /> But for 2018,we had a "catch-up" payment in March for marijuana excise taxes following the passage of the 2018-2019 <br /> state supplemental budget. The 2017-2019 state budget had reduced the marijuana excise tax distributions by <br /> 60%. MRSC recommended budgeting for this revenue at the lower level and we reduced our budget <br /> accordingly. However,there was a caveat in the state budget that if the February 2018 state general fund revenue <br /> forecast met a certain threshold,the distribution would be restored. That threshold was met and the distribution was <br /> restored. By year-end, Marijuana excise tax revenues should exceed budget by about$230,000. <br /> Forecasting state-shared marijuana excise tax revenue is difficult and subject to wild swings because the legislature can <br /> and does modify the rules as it is balancing the state's budget. I'm hopeful, however,that the amount we received in <br /> 2017 represents a low point. <br /> Let me know if you need anything further. <br /> Thanks, <br /> CELEBRATING Susy Haugen <br /> gn. , . Finance Director-Treasurer 1 Finance Department <br /> YEARS 425.257.8610 1 2930 Wetmore Ave, Everett, WA 98201 <br /> A story worth telling shaugen@everettwa.gov 1 Facebook 1 Twitter <br /> Note:Emails and attachments sent to and from the City of Everett are public records and may be subject to disclosure pursuant to the Public <br /> Records Act. <br /> 2 <br />