Title
PRESENTATION OF THE MARCH AND APRIL GENERAL FUND FINANCIAL DASHBOARDS
Body
Issue/Request:
PRESENTATION OF THE MARCH AND APRIL GENERAL FUND FINANCIAL DASHBOARDS
Key Issues:
The FY17 Monthly Financial Report for March and April is the YTD budget performance of the General Fund as of April 30. Preliminary unaudited total revenues are $58,721,101. This is $2,331,474 (4.1%) over budgeted total revenue. Preliminary total expenditure for April YTD is $54,539,424.
Background:
Revenue Details:
Sales Tax receipts are continuing to be solid. Total net sales tax receipts YTD is $12,907,482, which is 2.3% above FY17 budgeted amounts and 2.9% ahead of FY16 YTD.
Franchise tax, in aggregate, is -4.46% below budget. Three of four franchise taxes are below estimates, with Natural Gas (-14.9%) the greatest. Electric (-2.7%) and Cable (-7.4%) are more modestly underperforming budget amounts, while Telephone is 2.2% above current budget, but -3.9% below FY16 YTD.
Licenses, Permits & Fees continue to be strong. Revenues totaling $2,130,204 is 53.8% above budget and 19.1% ahead of this point last year.
Expenditure Details:
Total Expenditure of the General Fund through April 30, 2017, is $54,539,424. Preliminary total expenditures are currently 2.4% under budgeted amounts.
Presenter
Presenter: Jack Feldman, Management Analyst
Recommendation
Recommention: N/A