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. _,_I ,�� Quarterly Financial Report
<br /> f 1_ : A, AV-1 . )\® Operating Budget
<br /> First Quarter 2010/11FY
<br /> As of September 30, 2010
<br /> Table 1. General Fund Revenues
<br /> Revenues by Category Budget YTD Actual
<br /> Sales Tax 18,215,713 882,700 4.8%
<br /> Other Taxes 6,517,314 386,531 5.9%
<br /> Property Taxes 48,397,608 2,013,039 4.2%
<br /> Licenses 11,936 2,842 23.8%
<br /> Other Permits 45,347 13,792 30.4%
<br /> Building Permits 1,244,295 363,256 29.2%
<br /> Fines & Forfeitures 409,102 87,435 21.4%
<br /> Interest Income & Rent 362,402 (54,900) -15.1%
<br /> Grants & Subventions 782,500 15,543 2.0%
<br /> Franchise Taxes 2,028,002 53,396 2.6%
<br /> Planning Fees 95,864 99,386 103.7%
<br /> Plan Check Fees 795,406 479,284 60.3%
<br /> Public Works Fees 106,882 25,717 24.1%
<br /> Fees For Current Service 1,006,808 23,288 2.3%
<br /> Contributions & Donation 8,800 15,529 176.5%
<br /> Miscellaneous 150,000 (1,508) -1.0%
<br /> Sale Of Resale/Prsnlprop 26,920 4,595 17.1%
<br /> Misc Reimbursement 862,586 38,546 4.5%
<br /> Library Revenues 84,171 20,564 24.4%
<br /> Recreation Revenues 3,222,323 871,971 27.1%
<br /> Interfund Revenues 2,960,486 0 0.0%
<br /> Total Budget vs Actual 87,334,465 5,341,008 6.1%
<br /> Property Tax:
<br /> The budget for Property tax revenues is $48.397 million for 2011-12FY and through the
<br /> First Quarter ending September 30, 2011, $2.013 million or 4.2% 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 2010-11FY were $48.569 million and staff is anticipating that property tax
<br /> revenues in 2011-12FY will be similar. However, given the continued instability of the
<br /> real estate market along with the rise in delinquencies and foreclosures statewide, it
<br /> warrants continuing to monitor property tax receipts to determine if property tax
<br /> revenues will actually exceed budgeted revenues. Staff will provide an update to the
<br /> Council regarding property tax revenues at the Midyear Budget Review in March 2012
<br /> and will provide revisions, if any at that time.
<br /> _- Good. Positive Indicator Caution. Unsettled Indicator a Problem. Negative Indicator
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