RES 94042 - Laserfiche WebLink

manner, looking at all possible new revenue sources, and enhancing revenues through better management and collection techniques. As more information becomes available, when the budget panel completes its report, and with the completion of the fee studies, the Council will have more of the necessary data to make informed management decisions. The Temporary Recession Reserve will give us additional time to make good decisions. SUBSEQUENT NOTE On March 25, the City received its final allocation of sales tax dollars for the time period November 13 - February 11, which includes the Christmas Quarter. Actual receipts were about one-half of one percent lower than the same time period in 1992-93. It will be several weeks before we get a detailed analysis of this quarter, therefore, it is difficult to know exactly what occurred. However, staff believes most of this still relates to the reallocation of revenues to other jurisdictions, as opposed to our retailers seeing any major drops in their revenue. As was mentioned earlier, staff will need to review the details of this quarter in order to make a better revised estimate of 1993-94 sales tax revenue. This analysis will be done as part of the third quarter report. Respectfully submitted, Susan Rossi Deborah Acosta Director of Finance City Manager SR/cf/kh 3/28/94 (a:\sr94100) (c: wlxlata\sr94100) ATTACHMENTS: Resolution and Attachment A (Overview of Recommended Midyear Amendments by Fund) Appendix A- Resulting Projected Operating Fund Balances at 6/30/94 after 1993-94 Midyear Budget Amendments. Appendix B - General Fund Revenue Adjustments Appendix C - Summary of Revenue and Transfers by Fund Appendix D - 1993-94 Operating Budget Expenditures (Analysis by Department) Appendix E - Capital Improvement Funds Appendix F - General Fund Reserves and General Fund Scenarios for FY 1994-95 Appendix G - Selected Second Quarter Revenues, Projected vs. Actual 1993-94 Appendix H - Sales Tax Update, First Quarter 1993-94 SR94:100 14