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Major adjustments are summarized as follows: <br />General Fund Revenue Adjustments <br />Property taxes $343,000 <br />Sales tax <br />Building & Public Works fees 339,000 <br />Plan Check Fees 130,000 <br />Auto In Lieu fees 74,000 <br />Grants 56,000 <br />Business License Taxes 50,000 <br />Franchise fees 30,000 <br />Misc reimbursements 27,000 <br />Transfer Tax 9,000 <br />Planning fees 6,000 <br />Recreation Fees (62,000) <br />All other (Net) 14,000 <br />Total Net Adjustment $1,016,000 <br />* Staff will wait until the third quarter report to update this projection. The first quarter receipts <br />were much higher than expected, so projections were increased at that time by $1 million. <br />However, the City has not yet received information from the State regarding second quarter <br />sales tax revenues, which include Christmas sales. This information will not be available <br />until the end of March, after this report is prepared. Therefore, staff will include the <br />Christmas quarter update in the third quarter financial report. <br />GENERAL FUND TRANSFERS <br />Staff is recommending some small adjustments to transfers, resulting in a net increase of <br />19 000 transferred in to the General Fund, as outlined in Appendix C (starting on page 19). <br />SR 98:63 <br />Page 5 <br />