Laserfiche WebLink
EVERETT TO: City Council <br /> Administration <br /> WASHINGTON <br /> FROM: Susy Haugen, Finance <br /> Date: May 30, 2019 <br /> Monthly Financial Report <br /> April 2019 <br /> The first budget amendment is included in budgeted figures. Items to note in <br /> this report include: <br /> General Government Revenues <br /> Revenues are below budget by$1,665,400 or 4.1%through April. However, <br /> most of the shortfall is due to a timing issue with property tax and franchise <br /> fees. We expect both revenues to return to a more normal trend in May. <br /> Sales tax came in $112,500 or 5.4% below budget for April. YTD, it is still over <br /> budget by$15,000 or 0.16%. Audit adjustments to date are positive $37,000. <br /> Without adjustments, sales tax would be$22,000 or 0.23% under budget. <br /> Through April, our strongest performing categories continue to be <br /> Manufacturing and Wholesale Trade, at 4.2%and 9.6%above budget, <br /> respectively. All other categories,with the exception of Retail and Information, <br /> are performing near or at budget. <br /> Retail Sales,our largest sales tax subset, came in $95,900 or 10.5% under <br /> budget for the month. Year-to-date, it is now$121,400 or 2.9% below budget. <br /> Within retail sales, most categories had a bad month, with the exception of <br /> Electronics and Miscellaneous Store Retailers. Miscellaneous Store Retailers is <br /> where we believe internet sales are posted. <br /> B &0 tax receipts bounced back in a big way in April, coming in $1,069,000 or <br /> Finance Department just over 17%above budget. Prior month shortfalls have now been eliminated, <br /> Susy Haugen and we are now$517,000 above budget,year-to-date. We do, however, expect <br /> Finance Director- to trend closer to budget as the year progresses due to the timing of payments <br /> Treasurer in the aerospace sector. Industry sectors performing well for April include <br /> 2930 Wetmore Ave,10B Wholesale, Retail,Wood Product Manufacturing,Transportation, Finance& <br /> Everett,WA 98201 Insurance, and Professional, Scientific and Tech Services, and Administration <br /> and Waste Management. Construction and Metal Manufacturing continue to <br /> O425.257.8612 fall short of expectations. <br /> 425.257.8607 fax <br /> everettwa.gov <br /> 3 <br />