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`HE CIF' OF
<br /> L 3 Quarterly Financial Report
<br /> �1 �1 Operating Budget
<br /> 1 LL flC �1 V Y 1 V� First Quarter 2010/11FY
<br /> As of Se • tember 30 2010
<br /> Pi F
<br /> Table 1. General Fund Revenues
<br /> Revenues by Category Budget YTD Actual %
<br /> Sales Tax 16,208,517 837,200 5.2%
<br /> Other Taxes 5,954,200 310,191 5.2%
<br /> Property Taxes 47,739,924 2,050,169 4.3%
<br /> Licenses 11,702 3,219 27.5%
<br /> Other Permits 53,458 11,041 20.7%
<br /> Building Permits 700,000 293,094 41.9%
<br /> Fines & Forfeitures 449,080 73,501 16.4%
<br /> Interest Income & Rent 440,335 - 61,348 -13.9%
<br /> Grants & Subventions 796,682 38,288 4.8%
<br /> Franchise Taxes 2,045,237 0 0.0%
<br /> Planning Fees 95,334 12,055 12.6%
<br /> Plan Check Fees 350,000 207,339 59.2%
<br /> Public Works Fees 60,000 7,833 13.1%
<br /> Fees For Current Service 1,002,165 26,643 2.7%
<br /> Contributions & Donations 8,000 4,596 57.5%
<br /> Miscellaneous 130,000 1,340 1.0%
<br /> Sale Of Real Property 30,000 5,141 17.1%
<br /> Misc Reimbursement 820,901 60,355 7.4%
<br /> Library Revenues 77,520 21,160 27.3%
<br /> Recreation Revenues 3,526,535 723,502 20.5%
<br /> Interfund Revenues 3,224,078 36,286 1.1%
<br /> Total Budget vs Actual 83,723,668 4,661,604 5.6%
<br /> Property Tax:
<br /> The budget for Property tax revenues is $47.7 million for 2010 /11FY and through the
<br /> First Quarter ending September 30, 2010, $2.0 million or 4.3% has been received by
<br /> the City. The majority of these funds were unsecured property tax. The unsecured
<br /> property tax is the tax on items such as machinery and equipment as opposed to the
<br /> secured property tax which is the tax on real property. Actual property tax revenues
<br /> for the 2009 /10FY were $49.7 million and staff is anticipating that property tax
<br /> revenues in 2010 /11FY will be similar. However, given the continued instability of the
<br /> real estate market along with the rise in delinquencies and foreclosures in Alameda
<br /> County as a whole, it warrants continuing to monitor property tax receipts to determine
<br /> if property tax revenues will actually exceed budgeted revenues. Staff will provide an
<br /> update to the Council regarding property tax revenues at the Midyear Budget Review in
<br /> March 2011 and will provide revisions, if any at that time.
<br /> .' Good. Positive Indicator it Caution. Unsettled Indicator a Problem. Negative Indicator
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