Title
PRESENTATION OF THE JANUARY AND FEBRUARY GENERAL FUND FINANCIAL DASHBOARDS
Body
Issue/Request:
PRESENTATION OF THE JANUARY AND FEBRUARY GENERAL FUND FINANCIAL DASHBOARDS
Key Issues:
The FY17 Monthly Financial Report for January and February is the YTD budget performance of the General Fund as of February 28, 2017. Preliminary unaudited total revenues are $49,961,021. This is $881,567 (1.8%) over budgeted total revenue. Preliminary total expenditure for February YTD is $43,474,041.
Background:
Revenue Details:
Sales Tax receipts are continuing to be solid. Total net sales tax receipts YTD is $10,188,735, which is 2.7% above FY17 budgeted amounts and 5.0% ahead of FY16 YTD.
Franchise tax, in aggregate, is -2.96% below budget. All four franchise taxes are below projections, with Natural Gas (-10.8%) the greatest. Telephone (-2.6%), Electric (-1.2%), and Cable (-2.5%) are more modestly underperforming.
Licenses, Permits & Fees continue to be strong. Revenues totaling $1,677,515 is 68.4% above budget and 60.2% ahead of this point last year.
Expenditure Details:
Total Expenditure of the General Fund through February 28, 2017 is $43,474,041. Preliminary total expenditures are currently 1.3% under budgeted amounts.
Presenter
Presenter: Jack Feldman, Administration Management Analyst
Recommendation
Recommention: N/A