Title
PRESENTATION OF THE DECEMBER GENERAL FUND FINANCIAL DASHBOARDS
Body
Issue/Request:
PRESENTATION OF THE DECEMBER GENERAL FUND FINANCIAL DASHBOARDS
Key Issues:
The FY17 Monthly Financial Report for December is the YTD budget performance of the General Fund as of December 31, 2016. Preliminary unaudited total revenues are $24,590,771. This is $928,396 (3.9%) over budgeted total revenue. Preliminary total expenditure for December YTD is $32,256,222.
Background:
Revenue Details:
Sales Tax receipts are continuing to be solid. Total net sales tax receipts YTD is $7,628,240. A number of larger retailers will be remitting sales tax in January, which will put sales tax revenues in line with growth patterns seen in previous months.
Franchise tax, in aggregate, is -2% below budget. All four franchise taxes are below projections, with Natural Gas (-16%) the greatest. Telephone (-1.9%), Electric (-0.2%), and Cable (-1.5%) are more modestly underperforming.
Licenses, Permits & Fees continue to be strong. Revenues totaling $1,342,347 is 67.3% above budget and 59.1% ahead of this point last year.
Expenditure Details:
Total Expenditure of the General Fund through December is $32,256,222.
Presenter
Presenter: Jack Feldman
Recommendation
Recommendation: This was a presentation only.