|
<br />
<br />City of San Leandro
<br />Mid-Year Performance Report
<br />
<br />Ending December 31, 2006
<br />
<br />DETAIL OPERATING ACTIVITY
<br />
<br />GENERAL FUND REVENUES
<br />. Favorable sales tax variance reflects a 2005-06 true-up resulting from the State's triple-flip formula,
<br />which swaps the City's 1/4% portion of sales tax with a like amount of property tax.
<br />. The Alameda County Assessor reported a 9.38% increase to property assessed valuations in 2006-07
<br />from 2005-06, which is better than the City's conservative growth projection of 7.0% but slightly
<br />below the 9.46% Alameda County growth rate.
<br />. As projected, the housing market decline is reflected in the City's transfer tax revenue, which is
<br />currently $1.3 million or 29.6% less than the prior year.
<br />. The City begins collecting 2007 business license renewals at the new voter-approved rates in
<br />January 2007. The modified rate is expected to generate an additional $2 million in annual revenue.
<br />. The $2.4 million expected from the 911 Fee remains a revenue at-risk program. The unfavorable
<br />ruling against Union City is expected to be heard on appeal in 2007 while a decision on the Stockton
<br />ordinance is expected within 90 days following its February 2007 trial.
<br />. Red Light program revenues are $320k as of the mid-year and reflect two additional camera's that
<br />went live during the first quarter 2006-07.
<br />. The City began collecting the new Waste Management (Oro Loma) franchise fee during the second
<br />quarter. The new revenue on solid wastelrefuse disposal is expected to generate approximately
<br />$500k in the current year.
<br />
<br /> GENERAL FUND REVENUES
<br /> (In Thousands)
<br /> Positive! YTO % of
<br /> YTO 06-07 Budget (Negative) Year End
<br /> Actual As Amended Variance Proection
<br />Taxes:
<br />Property Taxes 4,949 9,799 9,996 197 49,5%
<br />Vehicle license Fee (VLF) Swap 2,707 5,212 5,414 202 50,0%
<br />Sales Tax 9,243 17,910 17,910 51,6%
<br />Sales & Use Tax Backfill 2,956 4,856 5,912 1,056 50,0%
<br />Document Property Transfer Tax 1,897 4,516 4,516 42,0%
<br />Transient Occupancy Tax 91 280 280 32.5%
<br />Utility Users Tax 4,177 10,342 10,342 40.4%
<br />Special Assessments 16 16 16 1000%
<br />Franchise Fees 904 4,150 4,150 218%
<br />Subtotal Taxes 26,940 57,065 58,536 1,471 46.0%
<br />Other Revenues:
<br />Licenses & Permits 1,356 5,437 5,507 24,6%
<br />Use of Money & Property 1,853 2,056 2,046 (10) 90,6%
<br />Revenue From Other Agencies 759 973 975 2 778%
<br />Service Charges 2,163 4,970 4,970 435%
<br />Other Revenue 1 ,764 3,112 3,220 54.8%
<br />Subtotal Other Revenue 7,895 16,548 16,718 (8) 47.2%
<br />Subtotal Revenues 34,835 73,613 75,254 1,463 46.3%
<br />Operating Transfers 819 819 819 100.0%
<br />Total General Fund 35,654 74,432 76,073 1,463 46.9%
<br /> 5
<br />
|