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Table 3. General Fund Revenues — Amended Budget vs. Actual
<br />Property Tax revenues are the largest revenue source for the General Fund, accounting
<br />for approximately 62 percent of total revenues. In FY 2020/21 actual property tax
<br />collections including all categories of property related taxes were $300,233 more than
<br />staff's estimate of $77.4 million in the midyear budget.
<br />Sales Tax revenue is the second largest revenue source for the General Fund,
<br />accounting for approximately 17 percent of the total revenues. FY 2020/21 actual sales
<br />tax collections were $1.9 million or nine percent more than staffs estimate of $20 million
<br />in the Amended Budget. The $1.9 million increase reflects the fact that all sales tax
<br />categories performed better than expected particularly the following categories
<br />performed better in FY 2020/21 than in FY 2019/20 (1) sales tax generated from
<br />internet sales (pooled sales tax allocations) increased 18 percent, (2) Business and
<br />Industry increased 17 percent, and (3) Autos and Transportation increased eight
<br />percent.
<br />Development Services Fee revenues increased by $383,446 or approximately nine
<br />percent as a result of issuing more building permits than what staff anticipated during
<br />the Mid -year budget review.
<br />Business License revenues exceeded budget by $871,000 or 22 percent as a result of
<br />additional businesses seeking business licenses than expected as well as greater gross
<br />receipts (the basis of which the Business License Tax is calculated) overall than
<br />expected.
<br />Transient Occupancy Tax (TOT) decreased by $85,000 or four percent as a result of
<br />continued reduced business travel.
<br />Recreation Fees increased by approximately $573,000 or 74 percent due to increased
<br />demand for Recreation programs during the spring and summer of 2021 than expected.
<br />General Fund Expenditures. Actual General Fund expenditures incurred were less
<br />than the Mid -year budget by $3.7 million or three percent from the Mid -year budget.
<br />Table 3 shows the major expenditure categories with a comparison of Mid -year budget
<br />versus Actual Expenditures and the variance to the Mid -year budget. The $2.3 million
<br />variance in Personnel costs is primarily related to (1) reducing the allocation to the
<br />Page 4 of 14
<br />FY 2020/21
<br />FY 2019/20
<br />Revenues
<br />Actual
<br />Revised
<br />Actual
<br />Variance
<br />Property Taxes
<br />$74,257,259
<br />$77,367,123
<br />$77,667,356
<br />($300,233)
<br />Sales & Use Taxes
<br />20, 662, 385
<br />20, 030, 000
<br />21, 883, 038
<br />(1,853,038)
<br />Other Taxes
<br />15, 885, 377
<br />10, 393, 000
<br />11, 655, 802
<br />(1,262,802)
<br />Development Services Fees
<br />4,050,161
<br />4,219,000
<br />4,602,446
<br />(383,446)
<br />Recreation Fees
<br />2,310,190
<br />774,303
<br />1,347,488
<br />(573,185)
<br />Other Revenues
<br />1 7,187, 927
<br />9,156, 589
<br />8,194, 973
<br />961,616
<br />Total
<br />1 $124,353,299
<br />$121,940,015
<br />$125,351,102
<br />($3,411,088)
<br />Property Tax revenues are the largest revenue source for the General Fund, accounting
<br />for approximately 62 percent of total revenues. In FY 2020/21 actual property tax
<br />collections including all categories of property related taxes were $300,233 more than
<br />staff's estimate of $77.4 million in the midyear budget.
<br />Sales Tax revenue is the second largest revenue source for the General Fund,
<br />accounting for approximately 17 percent of the total revenues. FY 2020/21 actual sales
<br />tax collections were $1.9 million or nine percent more than staffs estimate of $20 million
<br />in the Amended Budget. The $1.9 million increase reflects the fact that all sales tax
<br />categories performed better than expected particularly the following categories
<br />performed better in FY 2020/21 than in FY 2019/20 (1) sales tax generated from
<br />internet sales (pooled sales tax allocations) increased 18 percent, (2) Business and
<br />Industry increased 17 percent, and (3) Autos and Transportation increased eight
<br />percent.
<br />Development Services Fee revenues increased by $383,446 or approximately nine
<br />percent as a result of issuing more building permits than what staff anticipated during
<br />the Mid -year budget review.
<br />Business License revenues exceeded budget by $871,000 or 22 percent as a result of
<br />additional businesses seeking business licenses than expected as well as greater gross
<br />receipts (the basis of which the Business License Tax is calculated) overall than
<br />expected.
<br />Transient Occupancy Tax (TOT) decreased by $85,000 or four percent as a result of
<br />continued reduced business travel.
<br />Recreation Fees increased by approximately $573,000 or 74 percent due to increased
<br />demand for Recreation programs during the spring and summer of 2021 than expected.
<br />General Fund Expenditures. Actual General Fund expenditures incurred were less
<br />than the Mid -year budget by $3.7 million or three percent from the Mid -year budget.
<br />Table 3 shows the major expenditure categories with a comparison of Mid -year budget
<br />versus Actual Expenditures and the variance to the Mid -year budget. The $2.3 million
<br />variance in Personnel costs is primarily related to (1) reducing the allocation to the
<br />Page 4 of 14
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