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Quarterly Financial Report .��.4 (C T( `\ Operating Budget 1 \�, First Quarter2010/11FY It As of September 30, 2010 Sales Tax: The 2011-12FY sales tax is budgeted at $18.215 million and the year to date collections is $882,700, or 4.8%. 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, 2011. The payment for sales tax for the period of July through September 30, 2011 is to be received on or about December 23, 2011 and will be reflected in the Midyear Budget Review. Based on recent trends, prior year actual information and the slight improvement in the economic outlook for retail sales; sales tax receipts for 2011-12FY are expected to be equal to or above the 2010-11FY receipts. Sales tax revenues for the 2010-11FY were $18.503 million. Recommendations regarding adjustments to the 2011-12FY budget estimates, if any, will be made with the Midyear Budget Review in March 2012. Development Services Fees: Table 2 presents a comparison of the Development Services' user fees received to date as compared to the 2011-12FY Budget. Year to date collections are $967,644 or 43.2% with 25% of the fiscal year completed. Development Services' user fees for the 2010- 11FY were $2.426 million and staff is anticipating that the revenues in 2011-12FY will be similar. Any adjustments to Development Services' user fees will be reviewed in the Midyear Budget Review in March 2012. Table 2. Development Services User Fees Development Services User Fees Budget YTD Actual Building Permits 1,244,295 363,256 29.2% Planning Fees 95,864 99,386 103.7% Plan Check Fees 795,406 479,284 60.3% Public Works Fees _ 106,882 25,717 24.1% Total Development Services User Fees 2,242,447 967,644 43.2% Hotel/ Motel Tax : Revenue from Hotel/Motel Tax (included in Other Taxes) is budgeted at $2.958 million in 2011-12FY. Actual Hotel/Motel tax revenues received in the 2010-11FY were $2.965 million. Staff is anticipating that the revenues in 2011-12FY could be equal to or slightly higher than 2010-11FY. Any adjustments to Hotel/Motel taxes will be reviewed in the Midyear Budget Review in March 2012. Good. Positive Indicator Caution. Unsettled Indicator a Problem. Negative Indicator