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jurisdiction. Sales tax was originally assumed to grow 1.6% over the revised budget amount. This change assumes growth of 0.90% over actual 2006-07 collections. Hotel/Motel Tax (TOT) The Hotel/Motel tax was originally assumed to increase 9.6% over the prior year. Based on year-to-date collections the growth is now expected to be 10% for the 2007- 08 fiscal year, an increase of $257,920 over the original budget estimate. Development Services Fees The revenue estimates for the current year budget were developed 14 months ago. A number of development proposals first thought to be moving forward in 2006-07 were, at that time, projected to shift into the 2007-08 fiscal year. Those development projects include the Stoneridge Mall expansion, the Staples Ranch auto mall relocation, and the senior Sunrise Apartment project. Future fee estimates will take into account the stage of the approval process for projects. Interest Income Interest Income is estimated to perform better than budget estimates due to change in estimated interest earnings. Originally, when the budget was approved it was assumed that interest earnings would be 3.75%, and it is now expected to be an average of 4.6% for the fiscal year. Vehicle License Fees (VLFZ VLF fees in 2006-07 were $403,000, approximately 4% less than the projected $420,000. The budget for 2007-08 VLF revenue was $436,800. Based on the results of 2006-07 and because the first four months of VLF revenue are only 90% of the amount received at this time last year, the revenue projection is being reduced $70,000, to $366,800. The California Motor Car Dealer Association reported a 9.3% decline in the registration of new cars and light trucks during the first three quarters of the calendar year. Recreation Revenues Amador Theater ticket sale revenues are being reduced $65,000 due to the delay in the start of the theater season being moved from September to January to complete work on the lighting renovation project. In addition, theater rentals are being reduced $43,000 due to the loss of a number of rentals including Pleasanton Playhouse, Livermore Amador Symphony, Lawrence Livermore Lab, City of San Ramon and the California Theater Center reducing their number of events in half. Franchise Fees Cable TV franchise fees are expected to perform better than originally budgeted based on the year-to-date collections in comparison with the prior year. Current Service Fees The City of Pleasanton currently has an agreement with Alameda County to provide fire protection to the unincorporated areas of Castlewood, Remen tract, and Happy Valley in exchange for a fee. The original budget did not contemplate a decrease in revenue due Page 3 of 6