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<p class="MsoNormal">Good Morning, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The <a href="https://bouldercolorado.gov/media/10184/download?inline=">
October 2022 Revenue Report</a> is now available online. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="xxxmsonormal">This report covers taxes collected by businesses through October 31, 2022. Sales and Use Tax based upon current economic activity increased by $15,299,619 or 12.5%. Construction Use Tax, which is highly variable on a monthly basis, increased
38.8%, while Motor Vehicle Use Tax declined by <span style="color:red">2.25</span>%,<span style="color:red">
</span>and Business Use Tax decreased by <span style="color:red">0.9</span>%. <o:p>
</o:p></p>
<p class="xxxmsonormal"><o:p> </o:p></p>
<p class="xxxmsonormal">Retail Sales Tax (including audit revenue and the 3.5% additional rec marijuana tax) increased by $12,104,703 (or 12.2%) when compared to YTD October 2021. This increase results in a compound annual growth rate of 6.6% compared to YTD
October 2019. Price inflation in consumer goods and groceries is contributing to a share of the 6.6% annualized growth rate, but as discussed below, other large contributors include recovery in eating places, and large institutional sales in the computer related
business sector and biopharma sectors.<o:p></o:p></p>
<p class="xxxmsonormal"><o:p> </o:p></p>
<p class="xxxmsonormal">Sales tax for most retail sectors are showing continued growth: Apparel Stores increased 12.2%, Home Furnishings increased 10.6%, Automotive Trade increased 4.3%, and General Retail increased 5.2% and Eating places increased 17.8%. Computer
Related Business Sector, which includes large institutional sellers increased 59.1%, and All Other, which contains Biopharmaceutical businesses, increased 35.1%. Please refer to page 2 of the revenue report for a more detailed discussion of rolling twelve
month performance in industry sectors in relation to inflation. <o:p></o:p></p>
<p class="xxxmsonormal"><o:p> </o:p></p>
<p class="xxxmsonormal">As always, please don’t hesitate to contact me if you have any questions about this report.
<o:p></o:p></p>
<p class="xxxmsonormal"><o:p> </o:p></p>
<p class="xxxmsonormal">Kind Regards, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Joel Wagner<o:p></o:p></span></b></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Deputy Finance Director<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><img border="0" width="329" height="61" style="width:3.425in;height:.6333in" id="Picture_x0020_1" src="cid:image001.png@01D92413.17EF2F30" alt="FINANCE_lockup_COBLogo"></span><span style="font-family:"Arial",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">O: 303-441-3871<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">C: 303-449-9326
<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><a href="mailto:wagnerj@bouldercolorado.gov"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">wagnerj@bouldercolorado.gov</span></a><u><span style="color:blue"><o:p></o:p></span></u></p>
<p class="MsoNormal" style="text-autospace:none"><o:p> </o:p></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Finance Department<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">1136 Alpine Ave | Boulder, CO 80304<o:p></o:p></span></p>
<p class="MsoNormal"><a href="https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Furldefense.proofpoint.com%2Fv2%2Furl%3Fu%3Dhttps-3A__gcc02.safelinks.protection.outlook.com_-3Furl-3Dhttp-253A-252F-252Fwww.bouldercolorado.gov-252F-26data-3D02-257C01-257CWagnerJ-2540bouldercolorado.gov-257C88594f0cea3b449e312e08d845f92634-257C0a7f94bb40af4edcafad2c1af27bc0f3-257C0-257C0-257C637336283666795488-26sdata-3DHhVu5e-252BmJMEYqhjGviLepCugKBfQlumxmiHH2TwRvYQ-253D-26reserved-3D0%26d%3DDwMFAg%26c%3DBWp0MFdrMtLbz0k6Y8aaUWa8FoouxHd5amRBhtn2C98%26r%3DqErR9EN6RrCn4ohC4cyPWMRYJMiA-MszoWb31gQBZbc%26m%3DZwtpyekxckUqMb90OF77XfvI7jpfLqGBjy1Hr5-i0VM%26s%3DUADHfBxUfp4DUQ6uNVvsvKhHxqmxtjjV9y1iyOEWeJE%26e%3D&data=02%7C01%7CWagnerJ%40bouldercolorado.gov%7C163945e512c24355d47908d855c7609f%7C0a7f94bb40af4edcafad2c1af27bc0f3%7C0%7C0%7C637353662105258396&sdata=1goSYsXLw92hV9DFe7iMrWSVp6JfWGhJYMaCi635igo%3D&reserved=0"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Bouldercolorado.gov</span></a><u><span style="color:blue"><o:p></o:p></span></u></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:black">CONFIDENTIALITY NOTICE: This message (including any attachments or enclosures) contains information that may be CONFIDENTIAL and is intended only for the use of the
individual or entity named above. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately
notify us by return email and destroy any copies, electronic, paper or otherwise, which you may have of this communication.</span><span style="font-family:"Arial",sans-serif;color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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