Finance Highlights 2007 0320 v1 - Laserfiche WebLink

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City of San Leandro Mid-Year Performance Report Ending December 31, 2006 Revenues - All Funds . At the mid-year, operating revenues for all funds are at 51.3% of projection with the anticipation that year-end projections will favorably exceed the budget by approximately $1.7 million. . Favorable General Fund variance primarily reflects a 2005-06 sales tax true~up resulting from the State's triple-flip formula, which swaps the City's 1/4% portion of sales tax with a like amount of property tax, and additional property assessed valuation growth. . As projected, the housing market decline is reflected in the City's transfer tax revenue, which is currently $1.3 million or 29.6% less than the prior year. . The City began collecting the new Waste Management (Oro Loma) franchise fee during the second quarter. The new revenue on solid waste/refuse disposal is expected to generate approximately $500k in the current year. . The City has identified reimbursable funds owed from the County, for having provided prior year advance life support services. The one-time reimbursement of $1 million will partially replenish the City's fire capital replacement fund and eliminate the need to fmance the City's recent purchase of a replacement fire engine. . Approximately $104k in Federal/State disaster assistance funds will be received in the Gas Tax, Heron Bay Maintenance and Shoreline Funds as reimbursement for debris removal and repairs in response to the 2006 storms. The following represents the City's All Fund Revenues by type: ALL FUND REVENUES (In Thousands) Projected YTD % of YTD 06-07 Budget Year End Change from Year End Fund Type: Actual (As Amended) Projection Budqet Projection General 34,835 73,613 75,076 1,463 464% Major Special Revenue 1,550 2,792 2,911 119 53.2% Enterprise 10,733 14,862 14,956 94 71.8% Subtotal All Funds 47,118 91,267 92,943 1,676 50.7% Operating Transfers 1,206 1,306 1,306 - 92.3% Total All Funds 48,324 92,573 94,249 1,676 51.3% (Debt service, grants, and non-major fund activities are excluded since they are separate from the operations planning process.) 3