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Sales tax revenue was below the budget estimate by $541,183 as shown in Table 3, a -2.5%
<br />variance. Actual collections for 2006-07 compared to 2007-08 collections are reflected in Table 4
<br />below.
<br />Table 4. Sales Tax % Change from Prior Year
<br />Sales Tax 25% (triple flip) ~ 5,951,760 5,524,090 -7.7%~
<br />Total 21,955,875 21,130,683 -3.9%
<br />Overall, sales tax decreased -3.9% over the prior year actual. Point-of-sale collections were
<br />down -2.5% and the triple flip portion was down -7.7%. For an explanation of the "triple flip',
<br />see attachment 2.
<br />General Fund Expenditures. Actual General Fund expenditures were below budget estimates
<br />by $3.1 million, or a positive variance of +3.5%. The table below shows the major expenditure
<br />categories with a comparison of budgeted versus actual expenditures and the variance to the
<br />budget estimate both in terms of dollars and percentage.
<br />Table 5. General Fund Expenditures -Budget vs. Actual
<br />-- ~ .- -
<br />Personnel Costs 65,860,207 65,148,085 712,122 1.1%
<br />Transportation & Training 2,120,903 2,151,493 (30,590) -1.4%
<br />Repairs & Maintenance 4,272,492 4,271,500 992 0.0%
<br />Materials, Supplies, Services 17,440,923 15,388,116 2,052,807 11.8%
<br />Capital Outlay 1,011,581 598,824 412,757 40.8%
<br />Total 90,706,106 87,558,018 3,748,088 3.5%
<br />The largest budget variance in expenditures is $2.0 million in the Materials, Supplies, and
<br />Services category. A portion of these funds, $1,342,721 that were not expended will be carried
<br />over into the current fiscal year. The $1,342,721 carryover includes $225,000 for energy
<br />projects, unspent contingency of $272,255, and $845,466 in operating department purchase
<br />orders and contracts.
<br />Reserve for Carryovers. Staff is recommending that a portion of the $3.1 million favorable
<br />budget variance be used to increase the Reserve for Carryovers by $1.3 million. The following
<br />table shows the purposes and amounts for the recommended additions.
<br />Table 6. General Fund Reserve for Carryovers
<br />•.. . -
<br />Department Requests, Purchase Orders, Contracts 845,466
<br />dd to current budgeted Contingency 272,255
<br />Energy Programs 225,000
<br />Grant Revenue Carryover (32,344)
<br />Total 1,310,377
<br />Page 4 of 9
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