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File #: 2019-3122    Name:
Type: Presentation Status: Filed
File created: 10/30/2019 In control: Finance and Budget Committee
On agenda: 11/11/2019 Final action: 11/11/2019
Title: Presentation of FY20 Q1 Financial Dashboards
Attachments: 1. FY20 Q1 Dashboard
Title

Presentation of FY20 Q1 Financial Dashboards

Body

Issue/Request:

Presentation of FY20 Q1 Financial Dashboards

Key Issues:

The General Fund year-to-date (YTD) revenue amounts through the first quarter of FY2020 total $13,268,452.  This total is less than budgeted estimates by $67,774 (or approximately 0.5%).  The following is information about the revenue sources and variances:

-Sales Tax:  The YTD local sales tax revenue is less than budgeted estimates by $177,805 (or 3.5%) and previous year actuals by $105,078 (or 2%).  This is a data point that will be watched closely throughout the fiscal year.

-Franchise Tax: In total, YTD revenues for franchise taxes are less than budgeted estimates by $123,020 (or 3%) and previous year actuals by $238,989 (or 6%).  The variance to the current year budget estimates is primarily the result of two of the franchise tax categories being below budgeted estimates: telephone franchise tax (less than budgeted estimates by $72,693, or 15%) and electric franchise tax (less than budgeted estimates by $55,564, or 2%).

-Motor Vehicle Taxes: This revenue category is greater than budgeted estimates by $34,766 (or 4%).  All three of the revenues (MV Fuel Tax, MV Sales Tax, and MV License/ Transfer Fee) that make up this category have YTD actuals greater than the current fiscal YTD budget estimates and previous fiscal year YTD actuals.

-Fines and Forfeitures:  This is a revenue category that has been decreasing steadily over the past several fiscal years.  Most of the revenue accounts in this revenue category have YTD actuals less than budgeted estimates and previous year amounts.  Also, a specific revenue account, "penalty/ interest other" shows a significant variance from current year budget.

-Licenses and Permits: This revenue category is $322,407 (52%) greater than budgeted estimates.  The largest variances in this revenue category are in storm sewer inspection fees, grading permits, water inspection fees, an...

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