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<br />Quarterly Financial Report-Operating Budget
<br />Second Quarter of FY 2006-07, as of December 31, 2006
<br />Current Financial Condition -~?'
<br />The City's financial condition at the end of
<br />the 2"d quarter is very positive. All
<br />operating funds, including the General
<br />Fund and Enterprise Funds are
<br />anticipated to meet budget projections by
<br />the end of the fiscal year (June 30,
<br />2007).
<br />Revenue sources in most funds are on
<br />target and expected to meet budget
<br />estimates. In those cases where
<br />revenues are less than budgeted, reduced
<br />expenditures will also occur thereby
<br />having no negative effect on fund
<br />balance. Actually, some expenditure
<br />savings typically will occur in all operating
<br />funds due to savings in position vacancies
<br />and employee turnover.
<br />No budget adjustments are being
<br />recommended for City Council action at
<br />this time but will be forthcoming in the
<br />third quarter financial report which will
<br />allow for revenue estimates to be refined
<br />and also offer a more complete picture of
<br />YTD expenditures.
<br />General Fund '~:~'
<br />With 50% of the year complete, General
<br />Fund revenues are at 43% and
<br />expenditures are at 42% of budget.
<br />~.-
<br />Revenues 89,459,040 38,382,410 43%
<br />Ex enditures 87,458,245 37,018,619 42%
<br />At this point in time there are no
<br />concerns about major revenue shortfalls,
<br />however it will be important to monitor
<br />revenues closely and identify any
<br />variances as soon as possible. Many
<br />revenues are not received in equal
<br />monthly allotments and it will take
<br />another quarter of actual revenues to
<br />paint a complete picture of YTD
<br />performance.
<br />General Fund Revenues '~?`
<br />..
<br />Properly Taxes 43,631,953 22,644,206 52%
<br />Sales Tax 21,272,034 8,134.677 38°/
<br />Hotel R Motel Tax 3,061,675 971,519 32%
<br />Business License Tax 3,061,675 763,740 25°/
<br />Other Taxes 1,506,901 591,436 39%
<br />Licenses & Permits 60,727 21,433 35°/
<br />Development Services User Fees 3,842,878 1.987,810 52%
<br />Fines & Forfeitures 578,813 203,513 35°/
<br />Interest Income R Rentals 690,538 312,647 45%
<br />Grants & State Subventions 1,126,539 417,668 37%
<br />Franchise Fees 1,608,105 241,579 15%
<br />Other User Fees 1,070.213 182,753 17%
<br />Miscellaneous Revenues 1.152,720 412,122 36%
<br />Library Revenues 87,944 40.323 46%
<br />Recreation User Fees 3,549,138 1,456,983 41%
<br />Interfund Char es 3,1,57,187 - 0%
<br />Total Budget vs. YTD Actual 89,459,040 38,382,409 43%
<br />.v. Good. Positive Indicator ~ Caution. Unsettled Indicator ~ Problem. Negative Indicator
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