Finance Highlights 2012 0504 - Laserfiche WebLink

Home

Third Quarter Financial Report as of March 31, 2012 May 4, 2012 • Charges for Services (91% of budget compared to 74% in 2010 -11)— Charges for services are higher in 2011 -12 based on payments from Kaiser Hospital for fire review and inspection fees. Also, the reimbursement for Police service fees by the Nike store are reflected in 2011 -12 but not in 2010 -11. • Licenses & Permits (107% of budget compared to 56% in 2010 -11)— Higher License & Permits revenues reflect Kaiser Hospital permit fees of $500,000 in 2011 -12. Additional high value building permits were issued for the Water Pollution Control Plant project and for work at the transfer station by Waste Management. General Fund Expenditures General Fund Expenditures (71% of budget compared to 72% in 2010 -11) —The current year's total budget is $1,782,000 higher than for 2010 -11, although expenditures are only $268,000 greater through March 31. Overall General Fund expenditures compare closely to last year with the exception of Transfers in 2010 -11 which included a $380,000 one -time payment to the Port of Oakland for the Doolittle Drive Entryway project. Fire expenditures are significantly below 75% because payments through March 31 cover only eight months of the contract for services. Community Development expenditures (82 %) are higher because of the reallocation of employees previously funded by the Redevelopment Agency. Expenditures for these employees are in the General Fund beginning February 1, 2012. Redevelopment /Successor Agency The San Leandro Redevelopment Agency's 2011 -12 operating budget appropriated revenues of $8,406,700 and expenditures of $7,740,000 for the three project areas. The Low/Moderate Income Housing budget estimates revenues at $2,648,700 and expenditures at $1,665,400. A budget amendment was approved by the City Council on March 5, 2012 reflecting revenue and expenditure changes necessary for eliminating the Redevelopment Agency effective February 1 2012. The wind down of the Agency resulted in the City Council identifying the City as the Successor Agency and the budget amendment appropriated revenues and expenditures for the Successor Agency through June 30, 2012. The payment of tax increment for 2011 -12 (and final) from the secured roll by Alameda County was made on January 30, 2012. The final payment to the Agency included a total of $5,136,000 for the Plaza Project Areas, the West San Leandro MacArthur Project Area, and the Joint Project Area. The Low/Moderate payment for these projects amounted to $1,429,700. 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