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<br />``~»P R ,~o~`, Quarterly Performance Report Ending December 3 1, 2008
<br />DETAIL OPERATING ACTIVITY
<br />GENERAL FUND REVENUES
<br />• The City expects to receive a shortfall of $517k in property tax revenue due to the downturn in the
<br />housing market.
<br />• The City expects to receive a shortfall of $2.5 million in Sales Tax due to general economic
<br />conditions.
<br />• As projected, the housing market decline is reflected in the City's transfer tax revenue. The City
<br />expects to receive a shortfall of $ l OOk.
<br />• The City begins collecting 2009 business license renewals at the new voter-approved rates from
<br />January 2008 which includes an expected CPI adjustment of 3.4% for 2009.
<br />• In November 2008 voters approved the 911 Fee but the loss of revenue from October through
<br />December 2008 will represent a shortfall of $800k.
<br />• In the other taxes category, Franchise Taxes and Transient Occupancy Tax is estimated to be $100k
<br />lower than the original estimate based on collections to date.
<br />• Use of Money and Property reflects receipts of 70.8% at December 2008 due to the accrual of the
<br />Alameda County EMS property tax assessment for $508k and the receipt of $157k in Asset Seizure
<br />funds to be used strictly for Police services. The City expects to receive a shortfall of $SOOk due to
<br />falling interest rates.
<br /> GENERAL FUND REVENUES
<br />(In Thousands)
<br />
<br />YTD 08-09 Budget
<br />Actual (As Amended)
<br />
<br />
<br />ear End
<br />Projection
<br />
<br />. Positive/
<br />(Negative) -
<br />Variance
<br />
<br />YTD % of
<br />Year End
<br />Projection
<br />Taxes:
<br />Property Taxes 8,728 17,517 17,000 (517) 51.3%
<br />Sales Tax 9,736 22,630 20,100 (2,530) 48.4%
<br />Utility Users Tax 4,068 10,500 10,500 - 38.7%
<br />Document Property Transfer Tax 1,436 3,000 2,900 (100) 49.5%
<br />Business Licenses 554 4,000 3,900 (100) 14.2%
<br />Other Taxes 793 4,712 4,612 (100) 17.2%
<br />Subtotal Taxes 25,315 62,359 59,012 (3,347) 42.9%
<br />Other Revenues:
<br />Licenses & Permits 1,075 1,925 1,925 - 55.8%
<br />Use of Money & Property 1,309 2,251 1,751 (500) 74.8°I°
<br />Revenue From Other Agencies 879 1,241 1,241 - 70.8%
<br />Senrice Charges 2,109 4,896 4,096 (800) 51.5%
<br />Other Revenue 1,591 3,606 3,606 - 44.1%
<br />Subtotal Other Revenue 6,963 13,919 12,619 (1,300) 55.2%
<br />Subtotal Revenues 32,278 76,278 71,631 (4,647) 45.1°/
<br />Operating Transfers 1,000 1,000 1,000 - 0.0%
<br />Total General Fund 33,278. 77,278 72,631 (4,647)- 45.8°/
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