Executive/Council Action Form (ECAF)
ITEM TITLE:
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Motion 21-261, approving the Apportionment of 2021 Public Utility District privilege taxes
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DEPARTMENT: Finance
ORIGINATOR: Debbi Mock
EXECUTIVE RECOMMENDATION: Approve
PURPOSE: This action will approve the distribution of the 2020 PUD privilege taxes to Snohomish County and to Snohomish County cities.
BACKGROUND: Each year, the County receives funds representing the privilege tax derived from the Snohomish County PUD’s sale of electric energy within unincorporated Snohomish County, and to the cities within the incorporated area of Snohomish County. PUD provides the County with the breakdown of gross sales by City (attached). The amount of privilege tax remittance due back to the cities is based on three-fourths of one percent of gross sales. This motion directs the Treasurer to distribute the proceeds from the 2020 PUD privilege tax to the cities. The remaining balance is revenue to the County. The total 2020 privilege tax that will be retained by the County is $4,435,713.78.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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002-3169900091 PUD Privilege Tax |
$4,435,713.78 |
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TOTAL |
$4,435,713.78 |
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DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Approved/Reviewed by Finance & Risk