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File Number: 15-310 <br />The General Fund finances the operations of the City that have no special or dedicated <br />revenue sources and pays for basic municipal services. Projected 2014-15 General Fund <br />expenditures total $89.4 million. Projected revenues are $87.5 million, an increase of $3.2 <br />million over the original projection. <br />Total third quarter revenue in 2014-15 amounts to $55.4 million, 66% of total budget <br />(compared to 67% in 2013-14). Expenditures through the third quarter in 2014-15 amount to <br />$60.7 million, 70% of the budget (compared to 69% in 2013-14). This year’s projected <br />expenditures are higher by $3.1 million compared to the Adopted Budget in 2014-15. <br /> <br />Highlights from third quarter activity and year-end estimates in the General Fund and other <br />funds are set forth below. Year-over-year changes of equal to or greater than +/- 5% will be <br />explained. <br />General Fund Revenue <br />·Sales Tax (62% of budget compared to 63% in 2013-14)-The current year’s budget for <br />sales tax revenue is $2.9 million higher than budgeted in 2013-14. Overall, sales tax <br />increased by 9% from the same period last year and represents a 9% increase in local <br />sales tax receipts and a 10% increase in the Sales Tax Backfill payment. Year-end <br />projections reflect an increase of $1.3 million over the Adopted Budget and is primarily due <br />to the passage of Measure HH effective April 1, 2015. <br />·Business License Tax (91% of budget compared to 88% in 2013-14)-Third quarter <br />reflects an increase of $229,000 due to the timing of payment processing and continued <br />improvement in the economy. Renewals are sent in December of each year and <br />processing varies based on staffing levels and the holiday closure. Revenues are expected <br />to meet the budgeted amount of $4.6 million. <br />·Other Taxes (66% of budget compared to 79% in 2013-14)-Other taxes are mainly <br />comprised of Transient Occupancy Tax charged to guests that stay in San Leandro hotels. <br />The current year’s budget for other tax revenue is $97,000 higher than budgeted in the <br />2013-14. Overall, other taxes increased by 10% from the same period last year and the <br />increase is reflective of an improving economy where more people travel for business and <br />leisure. Year-end projections equal the budgeted amount of $403,000. <br />·Charges for Services (84% of budget compared to 72% in 2013-14)-The current year’s <br />budget for charges for services is nearly identical to the budget for 2013-14. Overall, <br />charges for services increased by 17% from the same period last year and are primarily <br />due to Madea Alta Apartment Construction Fees. Year-end projections are expected to <br />beat adopted budgetary estimates by $648,000. <br />·Fines, Fees & Forfeitures (53% of budget compared to 56% in 2013-14)-The current <br />year’s budget for fines, fees, and forfeitures equals the budget for 2013-14. Overall, fines, <br />fees, and forfeitures decreased by 6% from the same period last year; mainly due to a <br />$123,000 decrease in red-light camera fines. As citizens become more familiar with San <br />Leandro’s red-light cameras and adopt safer driving habits, it is expected that fine revenue <br />will decrease. While a decrease in revenue is not ideal, an increase in safety is in line with <br />the intended purpose of the red-light cameras. Year-end projections are expected to miss <br />adopted budgetary estimates by $175,000. <br />·Licenses & Permits (71% of budget compared to 107% in 2013-14)- The current year’s <br />Page 2 City of San Leandro Printed on 5/27/2015