Finance Highlights 2012 0120 - Laserfiche WebLink

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Mid -Year Financial Report as of December 31, 2011 January 20, 2012 General Fund Expenditures General Fund Expenditures (48% of budget compared to 49% in 2010 -11)- The current years overall General Fund expenditures compare closely to the prior year with the exception of Transfers in 2010 -11 of which $380,000 represents a payment to the Port of Oakland for the Doolittle Drive Entryway project. Redevelopment Agency The Agency's 2011 -12 operating budget appropriates revenues of $8,406,700 and expenditures of $7,740,000 for the three project areas. The Low/Moderate Income Housing budget projects revenues at $2,648,700 and expenditures at $1,665,400. The first payment of tax increment from the secured roll by Alameda County would have normally occurred around December 15, 2011. However, with the Supreme Court's ruling on the constitutionality of the state's action of eliminating redevelopment agency operations, no payment was received by year -end. In early January, the Agency received a total of $2,871,600 for the Plaza Projects and the West San Leandro MacArthur Project. The Low/Moderate payment for these projects amounted to $717,900. Enterprise & Internal Service Funds Four Enterprise Funds make up the City's business type operations. The Water Pollution Control Plant Fund, Environmental Services Fund, Shoreline Enterprise Fund, and the Storm Water Fund are City municipal operations designed to fully recover costs through user fees. Internal Service Funds also operate as business activities, exclusively supporting the City's internal operations. Facilities Maintenance, Information Technology, Insurance Services, and Equipment Maintenance make up these funds. Enterprise & Internal Service Fund Revenues • Water Pollution Control Plant (68% of budget compared to 75% in 2010 -11)— Revenue at mid -year for 2011 -12 is lower due to the timing of billings for Industrial Sewer Service this year and the receipt in 2010 -11 of $330,000 from PG &E for the Co- Generation project. Special Revenue Funds Revenues and expenses for the City's operating Special Revenue Funds are included in the report. Revenues and expenditures for the Parking Fund, Gas Tax Fund, Heron Bay Maintenance Fund, Housing Services Funds, Business Improvement District Fund, and the Public Education & Government Access Fund are provided. Special Revenue Funds Revenues • Parking Fund (51% of budget compared to 81% in 2010 -11)— Quarterly billing for parking has decreased by $16,000 since the closing of the Estudillo Parking Garage. 3