Finance Highlights 2006 0503 - Laserfiche WebLink

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City of San Leandro Quarterly Performance Report Revenues — All Funds Ending March 31, 2006 • At the end of the 3rd quarter, operating revenues for all funds are at 71.5% of projection with the anticipation that year-end projections will favorably exceed the budget by approximately $1.8 million. • Favorable variance primarily reflects a one-time real property transfer tax revenue from the sale of the Albertsons owned property to Kaiser Permanente, additional sales tax and property assessed valuation growth, and stronger Gas utility user tax & franchise fee revenue. • Although the housing market experienced a slowdown during November and December it's anticipated that the housing market will remain strong overall during the fiscal year, as a result of the strengthening economy and the flattened treasury yield where shorter -term and longer-term rates are relatively the same. • The City has completed 15 months collecting the Emergency Communication System Access Fee (911 Fee) revenue. This new revenue is currently on track with its annual projection of $2.17 million. • The Business Improvement District for the Links shuttle service program was approved for an extension of four more years. The assessment rate increase of $0.32 is projected to generate an additional $3,760 for the program. • The variance for the Enterprise fund primarily reflects a decline in Marina berth rental fees that are projected to end the fiscal year short of budget by $114k or 11.8%. The following represents the City's All Fund Revenues by type: (Excluded are debt service, grants, and non -major fund activities since they are normally excluded from the operations planning process.) ALL FUND REVENUES (In Thousands) Projected YTD % of YTD 04-05 Budget Year End Change from Year End Fund Type: Actual As Amended Projection Budget Projection General Major Special Revenue Enterprise Subtotal All Funds 47,393 67,106 2,081 3,105 13,405 15,945 69,024 3,037 15,934 1,918 (68) 11 68.7% 68.5% 84.1% 62,879 86,156 87,995 1,839 71.5% 775 875 875 - 88.6% Operating Transfers Total All Funds 1 63,654 87,031 88,870 1,839 71.6% (Excluded are debt service, grants, and non -major fund activities since they are normally excluded from the operations planning process.)