Title
PRESENTATION OF THE MAY GENERAL FUND FINANCIAL DASHBOARD
Body
Issue/Request:
PRESENTATION OF THE MAY GENERAL FUND FINANCIAL DASHBOARD
Key Issues:
The FY17 Monthly Financial Report for May is the YTD budget performance of the General Fund as of May 31. Preliminary unaudited total revenues are $62,048,797. This is $2,598,741 (4.4%) over budgeted total revenue. Preliminary total expenditure for May YTD is $59,440,325.
Background:
Revenue Details:
Sales Tax receipts are continuing to experience growth, but at a slower pace than earlier this fiscal year. In January, gross sales tax was 5.03% above budget, but that has reduced to 1.74% in May. Staff will monitor sales tax for the presence of changing trends, if applicable. Net sales tax receipts YTD is $13,801,599, which is 0.9% above FY17 budgeted amounts and 3.5% ahead of FY16 YTD.
Franchise tax, in aggregate, is 4.13% below budget. Three of four franchise taxes are below estimates, with Natural Gas (-14.9%) the greatest. Electric (-2.9%) and Cable (-2.3%) are more modestly underperforming budget amounts, while Telephone is 0.5% above current budget, but -4.5% below FY16 YTD.
Licenses, Permits & Fees continue to be strong. Revenues totaling $2,440,210 is 54.8% above budget and 8.8% ahead of this point last year.
Charges for Service revenue YTD is $5,827,005, which is $942,465 (19.3%) above budgeted amounts. This is primarily as a result of the changes to the schedule of fees for Ambulance Fees and Police Special Detail. The former was raised to ensure 50% cost recovery of the EMS program, and the latter to incent more officers to sign up for special detail opportunities available in the community.
Expenditure Details:
Total Expenditure of the General Fund through May 31, 2017, is $59,440,325. Preliminary total expenditures are currently 2.9% under budgeted amounts YTD.
Fuels and Lubricants appear $253,295 (49%) under budget. This category is expected to be under budget this fiscal year, but the fig...
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