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THE CITY OF Quarterly Financial Report l Operating Budget pL ASANTONo First Quarter of FY 2009 -10 As of Se tember 30 2009 Sales Tax: Sales tax is budgeted at $16.4 million and the YTD collections are $850,400, or 5.2 The revenue from this first payment is an advance based on prior year collections and not much can be interpreted from the revenue received as of September 30` The first quarterly payment from sales tax for the period of July through September isn't paid until the following quarter ending in December. However, based on recent trends, prior year actual information and the continued sluggish economic outlook current year receipts are expected to be below the prior year receipts. Recommendations regarding adjustments to current year budget estimates will be made with the mid -year budget update in February. Development Services Fees: Development Services Fees overall are at $517,150, or 23.5% with 25% of the fiscal year completed. A large share of YTD actual collections are from Ponderosa Homes. Further adjustments to development services fee estimates will be reviewed in the Mid Year update. Development Services User Fees Bud.et YTD Actual Total Building Permits 1,256,000 207,520 16.5% Total Planning Fees 93,465 13,940 14.9% Total Plan Check Fees 741,858 119,646 16.1% Total Public Works Fees 110,383 176,044 159.5% Total Development Services User Fees 2,201,706 517,150 23.5% Hotel Motel Tax: Revenue from Hotel Motel Tax (included in Other Taxes) is budgeted at $3.2 million and at the time the budget was adopted it was assumed that this year Hotel Motel Tax would decline 1.6% from the prior year estimated actual. However, since the prior year was actually down 19% rather than the estimated decrease of 2.9 assumed in the budget, it is expected that further adjustments will be needed. First quarter revenue in 2009 -10 is down 21% over the first quarter of the prior year. Good. Positive Indicator AP Caution. Unsettled Indicator WM Problem. Negative Indicator