|
Attachment 2
<br /> .0...A.; Quarterly Financial Report
<br /> III -1 I III Operating Budget
<br /> Third Quarter of FY 2008 -09
<br /> 0 as of March 31, 2009
<br /> General Fund Revenues
<br /> Revenues by Category Budget YTD Actual
<br /> Sales Tax 18,962,000.0 14,103,609.73 74.4%
<br /> Other Taxes 7,352,375.0 5,340,680.52 72.6%
<br /> Property Taxes 48,226,387.0 46,256,078.87 95.9%
<br /> Total Licenses 11,296.0 9,267.00 82.0%
<br /> Other Permits 53,500.0 45,858.00 85.7%
<br /> Building Permits 1,100,000.0 764,319.08 69.5%
<br /> Fines Forfeitures 451,925.0 317,697.99 70.3%
<br /> Interest Income Rent 1,032,992.0 200,205.20 19.4%
<br /> Grants Subventions 906,548.0 567,783.26 62.6%
<br /> Franchise Taxes 1,797,085.0 1,557,129.93 86.6%
<br /> Planning Fees 110,285.0 147,929.58 134.1%
<br /> Plan Check Fees 618,096.0 405,503.97 65.6%
<br /> Public Works Fees 59,812.0 87,684.25 146.6%
<br /> Fees For Current Service 1,030,781.0 868,437.75 84.3%
<br /> Contributions Donation 8,050.0 6,050.00 75.2%
<br /> Miscellaneous 143,983.0 111,030.02 77.1%
<br /> Sale or Resale of Personal Property 21,623.0 25,810.55 119.4%
<br /> Misc Reimbursement 726,031.0 380,548.49 52.4%
<br /> Library Revenues 80,600.0 60,983.47 75.7%
<br /> Recreation Revenues 3,828,558.0 2,667,081.28 69.7%
<br /> Interfund Revenues 3,461,133.0 0.0%
<br /> Total Budget vs Actual 89,983,060.0 1 73,923,688.94 82.2%
<br /> Property Tax:
<br /> Property tax is budgeted at $48.2 million and is expected to exceed the revised budget
<br /> estimate by year end. This is primarily due to delinquent property tax already at 169%
<br /> of budget at the end of the 3rd quarter. The YTD revenues are 95.9% of budget and
<br /> another large payment will be received in April, after the end of the 3 quarter and
<br /> therefore, is not reflected in this report. The initial budget estimate in July 2007
<br /> assumed a 6.5% increase over the prior year for secured property tax. That estimate
<br /> was lowered to 4.9% with the Mid -Term update in July 2008 and further reduced to
<br /> 0.5% with the Mid -Year update in January 2009. No further adjustments are
<br /> recommended at this time. Given the instability of the real estate market along with
<br /> the rise in delinquencies and foreclosures in Alameda County, it warrants ongoing
<br /> monitoring of property tax receipts to determine if budgeted revenues will actually be
<br /> realized.
<br /> 2
<br /> Good. Positive Indicator f Caution. Unsettled Indicator Problem. Negative Indicator
<br />
|