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File Number: 20-075 <br />period last year. The total actual interest income recorded in 2018-2019 amounted to <br />$1,344,000. Between July 1, 2018 and July 1, 2019, the City’s investment portfolio <br />increased by 30%, to a total of $171 million. Over the same period, the rates of return for <br />LAIF and the Chandler managed funds increased by 25%. <br />·License & Permits-(57% of anticipated revenue in the adopted budget has been collected <br />compared to 69% in 2018-2019). Licenses & Permits budgeted revenue is $1,290,000 <br />higher compared to 2018-2019. Revenues are $566,200 greater than in the same period <br />last year largely due to the level of service provided by the Building division. <br />As reported in the attached Mid-Year Financial Report, all other taxes and revenue receipts are <br />relatively in line with budgeted revenues. The third quarter report will show a closer estimate to <br />what the year-end results will reflect. <br />General Fund Expenditures <br />·General Fund, Total Expenditures-(40% of budget compared to 39% in 2018-2019). <br />Mid-year expenditures were $48,928,000, 40% of the budget of $121,298,000. Year over <br />year General Fund expenditures increased by $1,400,000. Every departments’ <br />expenditures remain less than one-half of its budget appropriation. Over the past <br />five-years, an average of 40% of the annual budget appropriation has been expended by <br />December 31. <br />Enterprise, Internal Service Funds, and Parking Fund <br />Four Enterprise Funds make up the City's business-type operations. The Water Pollution Control <br />Plant Fund, the Environmental Services Fund, the Shoreline Enterprise Fund, and the Storm <br />Water Fund are City municipal operations designed to fully recover costs through user fees. <br />Internal Service Funds also operate as business activities, exclusively supporting the City's <br />internal operations. Facilities Maintenance, Information Technology, Insurance Services, and <br />Equipment Maintenance make up these Internal Service Funds. The Parking Fund provides for <br />parking meter and parking lot operations and maintenance at the Downtown Parking Structure <br />and has been restructured in the last year in order to bring expenditures in line with annual <br />revenues. <br />·Insurance Services, Revenue-(50% of budget compared to 39% in 2018-2019). Insurance <br />Services budgeted revenue (department allocations) is unchanged from 2018-19. Both <br />department allocations increased, and the General Fund transfer decreased by <br />$1,000,000 in 2019-2020. Higher revenue in 2019-2020 reflects the increase in <br />department allocations compared to 2018-2019. <br />·Equipment Maintenance, Revenue-(49% of budget compared to 53% in 2018-2019). <br />Equipment Maintenance budgeted revenue (department allocations) is $1,232,000 less <br />compared to 2018-2019. Department allocations decreased based on fewer vehicle <br />purchases and replacements scheduled in 2019-2020. <br />·Parking Fund, Revenue/Expenditures-(74% and 35% of budget compared to 49% and <br />25% in 2018-2019). Parking Fund budgeted revenue is $263,000 higher compared to <br />Page 3 City of San Leandro Printed on 3/11/2020 <br />240