|
• Property Taxes
<br />At the end of the 2nd quarter 52% of the
<br />budget had been received. Based on
<br />receipts and County Assessor's Office
<br />estimates, it is expected that we will exceed
<br />our budget estimate this fiscal year. Initially
<br />the budget assumed property tax growth of
<br />8.7%, and the Assessor's Office now expects
<br />the increase to be 9.0%. However,
<br />projections from the Assessor's Office also
<br />reflect a slower rate of growth in the next
<br />fiscal year in the area of 5% to 6% range.
<br />• Sales Tax
<br />YTD collections at the end of the 2Dd quarter
<br />represent 1St quarter receipts plus October &
<br />November monthly advances showing 38%
<br />of budget having been received. The 1St
<br />quarter showed very little increase at +0.3%
<br />and needs to be monitored closely. The
<br />adopted budget reflected a 3.8% increase
<br />over the prior year. However, because prior
<br />year actual receipts were higher than
<br />expected, sales tax will only need to increase
<br />+0.5% this year in order to meet the current
<br />budget estimate. Given the performance in
<br />the 1St quarter, staff is reluctant at this point
<br />to recommend increasing the estimate.
<br />Sluggish automobile sales and the drop in
<br />gasoline prices in the fall both contributed to
<br />sales taxes being fairly flat.
<br />•:• Hotel & Motel Tax ~':~,~
<br />The Hotel & Motel tax collected at the close
<br />of the 2nd quarter is 32% of the budget
<br />estimate. YTD collections represent only one
<br />quarter of the fiscal year as the 2nd quarter
<br />tax is not due until January 31St. The budget
<br />estimate assumed a 3% increase over the
<br />prior year. Based upon YTD receipts, actual
<br />performance this year should exceed the
<br />budget estimate.
<br />• Development Services Fees .`,
<br />Development services fees exceed estimates
<br />for planning fees and plan check fees.
<br />Planning fees have exceeded the budget
<br />estimate because of contract EIR work where
<br />revenues are collected to pay for contract
<br />services and offset expenses. Public Works
<br />fees, primarily for inspections, are only at
<br />34% due to delays with the Lin, Reznick, and
<br />Lehman Selway developments .
<br />.- -. .-
<br />Building Permits 2,400,000 1,208,190 50%
<br />Planning Fees 97,807 98,546 101%
<br />Plan Check Fees 1,001,966 565,870 56
<br />Public Works Fees 343,105 115,204 34%
<br />Total Development Services User Fees 3,842,878 1,987,810 52
<br />,:,
<br />• Business License Tax ~`~`~
<br />The renewal cycle for business license tax
<br />occurs in January; accordingly, collections
<br />are below the 50% mark at the end of the
<br />2nd quarter reflecting 25% of budget having
<br />been collected.
<br />General Fund Expenditures ~ ~~
<br />Both expenditures by Department and by
<br />Type are within normal ranges at the end of
<br />the second quarter
<br />- -
<br />•
<br />GiIyGOUnCII 130,356.00 72,339.00 55%
<br />City Manager 844,405.00 376.992.00 45%
<br />City Attorney 1,945,409.00 457,816.00 24%
<br />Finance Department 2,983,142.00 1,365,229.00 46%
<br />General Government 2,076,708.00 376,120.00 78%
<br />Administrative Services 4,275,724.00 1,830,325.00 43%
<br />Fire Department-PI¢asanton only 14,017,130.00 5,968.846.00 43
<br />Police Department 22,708,583.00 9,634,555.00 42%
<br />Planning Department 2,793,321.00 1,063,694.00 38%
<br />Housing 263,781.00 104,241.00 40%
<br />Economic Development 958,491.00 375,348.00 39
<br />Public Works 16,148,563.00 6,906.058.00 43%
<br />Parks & Community Services 14,408,938.00 6,665,918.00 46
<br />Library 3,903,694.00 1,821,138.00 47
<br />Total 6udye[ vs Ac[ual 87,458,245.00 37,018,619.00 42
<br />Salaries & Benefits 62,696,930.00 27,518,457.91 44
<br />Transportation & Vehicle Replacement 1,785,138.00 870,669.31 49%
<br />Repairs 8 Mal ntenance 5,840,203.00 2,824,167.42 48
<br />Materials, Supplies & Services 16.544,608.00 5,614.286.60 34
<br />Capital Outlay 582,2/6.00 191,037.92 33°/
<br />Total Budget vs Actual 87,458,245.00 37,018,619.16 42
<br />•~'~ Good. Positive Indicator ~ Caution. Unsettled Indicator ~ Problem. Negative Indicator
<br />2
<br />
|