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File Number: 22-165
<br />Real Property Transfer Tax-(received 41% of anticipated budget compared to 25% in
<br />2020-2021). The Property Transfer Tax appropriation was increased by $2,000,000 in the
<br />approved budget, reflecting impacts of ballot measure VV approved by city voters in
<br />November 2020. The measure authorized increasing the real property transfer tax rate
<br />from $6 per $1,000 in valuation to $11. This increase in the tax rate is initially projected
<br />anticipated to generate $4,000,000 in new annual General Fund revenue. Actual revenues
<br />through December 31, are $1,899,000 above the same period in 2020-2021. The
<br />proposed budget amendment increases appropriations for Property Transfer tax revenues
<br />by $2,000,000.
<br />·Charges for Services-(received 46% of anticipated budget compared to 43% in 2020-21).
<br />Charges for services revenue is budgeted in 2021-2022 at $2,054,000, $757,000 above
<br />the 2020-2021 budget. Mid-year revenues were $949,000, $387,000 than the same
<br />period yeast year. Due to COVID-19, recreation programs were adversely impacted in
<br />2020-2021 and to a lesser amount in 2021-2022. In 2021-2022, some programing
<br />resumed (pools, day camps, park rentals, and summer adventures) resulting in greater
<br />revenues, $284,000 more than in 2020-2021.
<br />·Interest & Property Income-(received 36% of anticipated budget compared to 38% in 2020-
<br />2021). Actual Interest Income revenues recorded through December 31, 2021, amounted
<br />to $967,000. Revenue in the same period 2020-2021 totaled $1,080,000. Both years
<br />exceeded the projected FY 2020-2021 revenue budget of $675,000. Higher Interest
<br />Income revenue will partially offset losses in rental income at the Marina Community
<br />Center and the Senior Center.
<br />·Intergovernmental-(received 51% of anticipated budget compared to 11% in 2020-2021). The
<br />reduction in revenue reflects the one-time CARES Act funds provided to state and local
<br />governments impacted by the COVID-19 outbreak in 2020-2021. The City received
<br />$1,100,000 from the State Department of Finance covering eligible expenditures last year.
<br />·License & Permits-(received 55% of anticipated budget compared to 38% in 2020-2021). Actual
<br />Building Permit revenues recorded through December 31, amounted to $1,561,000 in
<br />2021-2022. Revenue in the same period last fiscal year was $1,062,000. This Building
<br />Permit increase reflects nearly all the change in Licenses & Permit revenue.
<br />As reported in the attached Mid-Year Financial Report, all other taxes and revenue receipts are
<br />relatively in line with budgeted revenues.
<br />General Fund Expenditures
<br />·General Fund, Total Expenditures-(40% of budget compared to 37% in 2020-2021). Mid-year
<br />expenditures were $52,650,000, 39% of the budget of $133,735,000. Year-over-year
<br />General Fund expenditures increased by $6,637,000 partly due to timing of expenditures.
<br />All departments’ expenditures remain less than one-half of their budget appropriations.
<br />Over the past five years, an average of 40% of the annual budget appropriation has been
<br />expended by December 31, 2021. Additional part-time and full-time staffing savings are
<br />projected.
<br />Page 3 City of San Leandro Printed on 3/9/2022
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