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General Fund Revenues. General Fund revenues received (Actual) were greater than
<br /> the Amended Budget by $1,931,232 or 1 8% Table 2 presents the major revenue
<br /> categories with a comparison of the Amended Budget versus actual revenues and the
<br /> variance to the Amended Budget both in terms of dollars and percentage
<br /> Table 2. General Fund Revenues—Amended Budget vs. Actual
<br /> auotigal
<br /> @G J Gal -?np-bp p Budget Actual 96 We OKI
<br /> Property Tax $57,100,000 $57,276,491 $176,491 0 3%
<br /> Sales Tax 24,100,000 23,543,972 (556,028) -2 3%
<br /> Documentary Transfer Tax 750,000 823,790 73,790 9 8%
<br /> Business License Tax 3,400,000 3,700,568 300,568 8 8%
<br /> Hotel Tax 5,800,000 6,037,902 237,902 4 1%
<br /> Development Services Fees 5,472,550 6,115,65E 643,106 11 8%
<br /> Franchise Fees 2,455,000 2,570,130 115,130 4 7%
<br /> Recreation Fees 4,139,170 4,384,846 245,676 5 9%
<br /> Library Revenues 142,200 119,714 (22,486) -15 8%
<br /> Other Fees 1,018,800 1,102,458 83,658 8 2%
<br /> Grants& Intergovernmental 571,200 543,188 (28,012) -4 9%
<br /> Reimbursements 1,110,457 1,346,173 235,716 21 2%
<br /> Interest Income 100,000 174,267 74,267 74 3%
<br /> Inter-fund Labor Charges 2,253,784 2,133,689 (120,095) -5 3%
<br /> Other Revenues 1,392,200 1,863,748 471,548 33 9%
<br /> RTE0 90g 805,361 394111,M,g03 NO9 9076%
<br /> Property Tax revenues are the single largest revenue source for the General Fund,
<br /> accounting for approximately 51 3% of total revenues In FY 2015/16 actual property tax
<br /> collections including all categories of property related taxes were $176,491 more than
<br /> staffs estimate of$57 1 million in the Amended Budget
<br /> Sales Tax revenue is the second largest revenue source for the General Fund, accounting
<br /> for approximately 21% of the total revenues In FY 2015/16 actual Sales Tax collections
<br /> were $556,028 or 2 3% less than staffs estimate of$24 1 million in the Amended Budget
<br /> The $556,028 reduction is primarily related to sales tax misallocations to Pleasanton that
<br /> were meant to be distributed to another city In addition, staff estimated fuel prices would
<br /> increase 2% in FY 2015/16 but prices declined 14% resulting in reduced sales tax
<br /> revenues on fuel
<br /> Hotel Tax and Business License revenues exceeded budget by almost $538,000
<br /> combined as a result of the economy growing stronger Franchise Fees exceeded the
<br /> Amended budget by $115,000 as a result of increased customers related to residential
<br /> housing coming on-line Recreation Fees increased by $246,000 from increased number
<br /> of classes and increased participation Library fines decreased by $22,000 as a result of
<br /> fewer fines imposed Finally, Reimbursements were $236,000 greater than projected due
<br /> to Planning Division reimbursements that were used to cover the cost of plan reviews
<br /> conducted by consultants as well as developer reimbursement for storm drain work on
<br /> Stanley Blvd
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