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RES 09291
City of Pleasanton
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RES 09291
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6/2/2009 12:59:17 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/19/2009
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DOCUMENT NO
RES 09291
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Attachment 2 <br /> Quarterly Financial Report <br /> lin Operating Budget <br /> Third Quarter of FY 2008 -09 <br /> as of March 31, 2009 <br /> Sales Tax: r_'fr' <br /> Sales tax is budgeted at $18.9 million and the YTD collections are 74.4% of budget. <br /> Sales tax is expected to meet revised budget estimates, which calls for a -10.3% <br /> decrease over the prior year actual according to the recommendation for 3rd quarter <br /> adjustments. At the time the budget was initially adopted in July 2007 a 2.5% increase <br /> was assumed. That estimate was revised to 0% at the time of the Mid -Term update in <br /> July 2008 and further reduced to -5.8% with the Mid -Year update in January 2009. <br /> Now, at the 3 quarter mark the economy is expected to continue to deteriorate and <br /> the decline in sales tax is now estimated to be 10.8 This estimate assumes a -25% <br /> decline in the autos transportation category, -30% decline in fuel service stations, <br /> -12.5% decline in the building construction category, -10% decline in general <br /> consumer goods, and a -10% decline in business industry. <br /> Development Services Fees: <br /> Development Services Fees overall are at 74.4% with 75% of the fiscal year completed. <br /> This is after previously adjusting the budget for total fees down from $4.2 million to <br /> $2.9 million with the Mid -Term update in July 2008 and further reduced the estimate to <br /> $1.8 million with the Mid -Year update in January 2009. Building Permits are at 69.5 <br /> Planning Fees are at 134.1 Plan Check Fees are at 65.5 and Public Works fees are <br /> at 146.6 <br /> Development Services User Fees Budget <br /> Total Building Permits 1,100,000.0 764,319.08 69.5% <br /> Total Planning Fees 110,285.0 147,929.58 134.1% <br /> Total Plan Check Fees 618,096.0 405,503.97 65.6% <br /> Total Public Works Fees 59,812.0 87,684.25 146.6% <br /> Total Development Services User Fees 1,888,193.0 1 1,405,436.88 74.4% <br /> Hotel Motel Tax: <br /> Revenue from Hotel Motel Tax (included in Other Taxes) is at 61.2% with 75% of the <br /> year completed. The budget estimate was updated to reflect a -2.9% decrease at the <br /> time of the Mid -Year update in January 2009. However, that estimate may prove to be <br /> too optimistic. The 1 quarter receipts were down -9 the 2 quarter receipts were <br /> down -13 and the 3r quarter down -23% for a year -to -date figure of -14 There is <br /> no reason to expect the 4 quarter to be positive and may well result in actual <br /> collections considerably below the budget estimate. As mentioned previously, other <br /> revenues performing better than estimated may offset any shortfall in Hotel /Motel tax. <br /> 3 <br /> Good. Positive Indicator Caution. Unsettled Indicator Problem. Negative Indicator <br />
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