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The proposed allocations boosts the City's operating reserves as well as reserves
<br /> available to cover future Workers Compensation claims and reserves for future capital
<br /> improvement projects. Finally, the proposed $1.8 million allocation to prefund the City's
<br /> pension liability will help reduce the City's future pension contributions.
<br /> General Fund Revenues. General Fund revenues received (Actual) were greater than
<br /> the Amended Budget by $3.7 million or 3.3%. 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 /> General Fund Revenues. `';Amended Budget Actuals • $Variance %.Variance•
<br /> Property Tax $60,325,000 $60,835,165 $510,165 0.8%
<br /> Sales& Use Tax 22,525,000 23,362,536 837,536 3.7%
<br /> Hotel& Motel Tax 6,045,000 6,263,021 218,021 3.6%
<br /> Business License Tax 3,580,000 4,045,206 465,206 13.0%
<br /> Other Taxes 1,360,000 1,426,231 66,231 4.9%
<br /> Development Services Fees 5,848,650 6,786,572 937,922 16.0%
<br /> Franchise Fees 2,570,000 2,637,490 67,490 2.6%
<br /> Recreation Fees 4,164,460 4,097,171_ ._ _(67,289) -1,6%
<br /> Misc. Department Services Fees 1,075,900 1,184,189 108,289 10.1%
<br /> Other Revenues 622,550 579,189 (43,361) 7.0%%
<br /> Grants& Intergovernmental 429,000 622,346 193,346 45.1%
<br /> Reimbursements 807,064 1,109,079 302,015 37.4%
<br /> Interest Income 325,000 443,781 118,781 36.5%_
<br /> Inter-fund Labor Charges 2,398,829 2,342,106 (56,723) -2.4%
<br /> Total` "'$11.2;076,453 -$1115,73082!i $3;657;629''
<br /> Property Tax revenues are the single largest revenue source for the General Fund,
<br /> accounting for approximately 52.5% of total revenues. In FY 2016/17 actual property tax
<br /> collections including all categories of property related taxes were $510,165 more than
<br /> staffs estimate of$60.3 million in the Amended Budget.
<br /> Sales Tax revenue is the second largest revenue source for the General Fund,
<br /> accounting for approximately 20.2% of the total revenues. In FY 2016/17 actual Sales
<br /> Tax collections were $837,536 or 3.7% more than staffs estimate of$22.5 million in the
<br /> Amended Budget. The $837,536 increase is primarily related to sales tax misallocations
<br /> to the County Pool from prior years that were meant to be distributed to Pleasanton.
<br /> The correction of that misallocation was made in FY 2016/17.
<br /> Development Services fee revenues increased by $937,922 or 16% as a result of
<br /> WorkDay and a couple of other development projects that sought building permits in
<br /> FY2016/17 that staff expected would happen in FY 2017/18.
<br /> Page 3 of 12
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