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THE CITY OF
<br />.l.l ,,,, Quarterly Financial Report
<br />Operating Budget
<br />~ L ~ ~ S~4 N TON© Third Quarter of FY 2007-08
<br />as of March 31, 2008
<br />`fi`; ~~°
<br />General Fund Revenues
<br /> ~ . . ~
<br /> ..
<br />Total Sales Tax $21,671,866 $12,105,072 55.9%
<br />Other Taxes $8,420,132 $5,209,481 61.9%
<br />Property Taxes $47,065,677 $29,636,013 63.0%
<br />Total Licenses $12,131 $8,469 69.8%
<br />Other Permits $36,466 $31,657 86.8%
<br />Total Building Permits $1,535,600 $954,764 62.2%
<br />Total Fines & Forfeitures $479,466 $313,618 65.4%
<br />Total Interest Income & Rent $1,140,303 $281,590 24.7%
<br />Total Grants & Subventions $1,116,835 $602,899 54.0%
<br />Total Franchise Taxes $1,823,740 $507,242 27.8%
<br />Total Planning Fees $427,154 $173,481 40.6%
<br />Total Plan Check Fees $934,822 $819,397 87.7%
<br />Total Public Works Fees $153,370 $14,435 9.4%
<br />Total Fees For Current Service $1,014,608 $344,007 33.9%
<br />Total Contributions & Donation $2,000 $8,388 419.4%
<br />Total Miscellaneous $143,830 $65,741 45.7%
<br />Total Sale Of Resale/Prsnlprop $19,854 $13,252 66.7%
<br />Total Misc Reimbursement $920,963 $567,058 61.6%
<br />Total Library Revenues $80,600 $59,784 74.2%
<br />Total Recreation Revenues $3,744,559 $2,407,235 64.3%
<br />Total Interfund Revenues $3,361,108 $3,358 0.1%
<br />Total Budget vs Actual 594,105,084 $54,126,940 57.5%
<br />Property Tax:
<br />Property tax is budgeted at $47.0 million and is expected to be very close to this
<br />revised budget estimate by year end. The YTD revenues are 63% of budget and
<br />another large payment will be received in April, after the end of the 3~d quarter and
<br />therefore, is not reflected in this report. The initial budget estimate assumed a 6.5%
<br />increase over the prior year. However, the prior year actual revenues were $558,592
<br />lower than the budget estimate resulting in lower base amount when projecting current
<br />year revenue. In addition, the current year percentage increase has been reduced from
<br />6.5% to 5.5% due to the lackluster performance in the real estate market. Given the
<br />instability of the real estate market along with the rise in delinquencies and foreclosures
<br />in Alameda County, it warrants ongoing monitoring of property tax receipts to
<br />determine if budgeted revenues will actually be realized.
<br />=~~ Good. Positive Indicator ~' Caution. Unsettled Indicator ~ Problem. Negative Indicator
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