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1998/99 audit report on February 2, confirmed final sales tax revenue amounted to
<br />$5,094,907 ($618,835 more than original estimates and 22% growth over 1997/98). Per
<br />quarterly sales tax reports, prepared by Municipal Resource Consultants (MRC), the
<br />City's sales tax growth has consistently approximated 20% over the past three-quarters.
<br />In revising the 1999/2000 sales tax revenue estimate, staff has conservatively projected
<br />11% growth over 1998/99 actual results, with minor adjustments. This results in a new
<br />estimate of $5,683,000 for sales taxes, an increase of $793,000 over the original
<br />1999/2000 estimate. Various other revenue categories are also "trending" ahead of
<br />"norms" for this time of year. This equates to another $279,394 in revenue plus $79,050
<br />for "one-time" ERAF relief.
<br />Following is a revenue status report by category:
<br />1999/00 Projected Surplus
<br />Revenue: Budget Actual (Deficit)
<br />Sales Taxes:
<br />City Portion
<br />From RDA
<br />Total Sales Taxes
<br />Administrative Charges
<br />Property Taxes:
<br />Regular Portion
<br />One-time ERAF Relief
<br />Total Property Taxes
<br />Motor Vehicle In -Lieu
<br />Other Taxes
<br />Net Transfers
<br />Charges for Services
<br />Licenses and Permits
<br />Other Governmental Revenue
<br />Fines and Forfeitures
<br />Interest
<br />Rental Income
<br />Booking Fees -New
<br />Miscellaneous Revenue
<br />Total Revenue
<br />4,150,000 4,550,000 400,000
<br />740,000 1,133,000 393,000
<br />4,890,000 5,683,000 793,000
<br />3,584,628 3,584,628 0
<br />1,911,950 1,911,950
<br />41,950
<br />121,000
<br />79,050
<br />1,953,900
<br />2,032,950
<br />79,050
<br />1,900,000
<br />1,900,000
<br />0
<br />1,781,580
<br />1,781,580
<br />0
<br />1,032,689
<br />1,032,689
<br />0
<br />991,907
<br />1,062,411
<br />70,504
<br />871,500
<br />871,500
<br />0
<br />264,250
<br />264,250
<br />0
<br />139,000
<br />200,000
<br />61,000
<br />110,000
<br />110,000
<br />0
<br />100,000
<br />100,000
<br />0
<br />0
<br />94,890
<br />94,890
<br />107,000 160,000 53,000
<br />17,726,454 18,877,898 1,151,444
<br />General Fund 1999/2000 expenditures as of December 31, 1999 are commensurate with
<br />historical trends for this time of year. While only 46% of the budget has been "spent",
<br />with 50% of the year elapsed, again, this is normal as departments typically have greater
<br />expenses during the last one-half of the year. Therefore, no surplus or deficiency is being
<br />projected with respect to General Fund expenditures. A status report for 1999/2000 by
<br />General Fund department follows:
<br />
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