Title
Presentation of the FY19 December General Fund Financial Dashboards (F&BC 2-11-19)
Body
Issue/Request:
Presentation of the FY19 December General Fund Financial Dashboards
Key Issues:
The General Fund revenues amounts through the month of December total $27,300,000. Year to date (YTD) budgeted revenues total $27,300,000. The major variances include the following:
- Property Tax: Payment in Lieu of Tax (PILOT) revenue is approximately $400,000 above previous year amounts.
- Sales Tax: The General Fund continues to see a strong growth trend and actual gross amounts are $366,000 or 4% above budgeted estimates.
- Franchise Tax: All categories of franchise tax are exceeding budgeted amounts except for cable. In total, all franchise tax revenue amounts are $445,000 or 7% above budget.
For expenditures, the major variances include the following:
- Personnel Services: This category of expense includes all expenses generally attributed to employees such as salaries, health insurance, retirement, FICA, etc. Actual amounts are $104,000 below budgeted amounts.
- Other Supplies, Services, and Charges: This is the second largest category of expense and is $1,100,000 below budgeted amounts. The variance is primarily due to a PILOT payment ($996,000) that has yet to be processed.
Proposed City Council Motion:
N/A
Background:
N/A
Presenter
Nick Edwards | Assistant City Manager
Recommendation
Recommendation: N/A
Committee Recommendation
Committee Recommendation: Presentation only.