HomeMy WebLinkAbout11/16/2010 Council Presentation - FY 2010-2011 General Fund Budget in BriefSummary
General Fund revenues for the month of September of $2.59 million
exceeded expenditures of $2.06 million by $0.53 million. For the first three
months of this fiscal year ending in September, revenues exceed
expenditures by $1.93 million. This excess is primarily attributable to the
timing of capital outlay expenditures and required debt service transfers.
The majority of this excess is projected be utilized by December after the
completion of required debt service transfers and certain capital projects
are completed or are under way.
Percent of
Revenues Current Month Year to Date FY2011 Budget Budget
Sales tax revenues $ 1,646,487.61 $ 4,834,352.23 $ 18,983,515 25.5%
Other agency revenues 460,206.24 1,391,250.21 5,680,866 24.5%
Licenses, fees & permits 371,674.02 724,736.93 1,676,250 43.2%
Charges for services 24,966.64 73,227.29 873,250 8.4%
Fines and forfeiture 32,772.31 131,928.86 735,000 17.9%
Grants and contributions 9,759.62 89,824.73 110,950 81.0%
Investment income - 13,249.09 75,000 17.7%
Miscellaneous revenues 48,369.51 120,368.54 568,789 21.2%
Total Revenue 2,594,235.95 7,378,937.88 28,703,620 25.7%
Expenditures
Personnel & benefits 1,437,281.29 3,760,320.18 19,105,370
Contracted services 445,259.53 1,218,199.32 4,430,443
Operating supplies & equip 175,930.67 469,216.12 2,886,403
Capital outlay 331.54 1,990.81 1,591,405
Transfers out - - 2,615,706
Total Expenditures $ 2,058,803.03 $ 5,449,726.43 $ 30,629,327
Net Revenues Over/(Under)
Expenditures $ 535,432.92 $ 1,929,211.45 $ (1,925,707) -100.2%
Prepared by:
Finance Department
Revenues
Approximately 92% of General Fund Revenues come from sales taxes,
intergovernmental revenue and licenses, permits and fees. Collectively,
these comprise the "big three". The following describes those major
revenues.
Sales taxes -
Overall tax collections (excluding the portion of contracting taxes
allocated to the Transportation Fund) were $1.65 million for September
and were 9.42% higher than September 2009. Significant reductions in
contracting taxes were included in the FY2011 revenue projections and
collections are slightly above projections through September of this year.
Retail sales tax collections for September were $0.73 million which was
0.23% higher than the same period a year ago. The slight variance in
hotels & lodging taxes is primarily due to the seasonality of this industry
and the lower months of activity in the summer. Overall tax collections
through September were $4.83 million or 25.9%.
Current Percent
Category Current Month Current YTD Budget of Budget
Mining $ 1,342.92 $ 4,577.57 $ 5,000 91.6%
Contracting 176,165.18 550,265.33 1,981,495 27.8%
Transportation, Communications, Utilities 310,748.13 842,861.77 2,920,620 28.9%
Wholesale Trade 10,639.10 39,051.93 373,320 10.5%
Retail Trade 725,995.82 2,081,608.17 8,463,925 24.6%
Restaurant & Bars 130,942.90 386,649.86 1,512,485 25.6%
Fire, Insurance & Real Estate 106,815.35 326,765.62 785,990 41.6%
Hotels & OtherLodging 109,321.52 293,999.32 1,348,320 21.8%
Services 60,649.59 222,440.82 886,715 25.1%
Manufacturing 6,481.94 26,127.27 186,515 14.0%
All Others 7,385.16 60,004.57 169,130 35.5%
Total Revenue $ 1,646,487.61 $ 4,834,352.23 $ 18,633,515 25.9%
Intergovernmental -
Intergovernmental collections were $0.46 million for month of
September and overall collections through September are $1.39 million
or 24.5%. The immaterial variance of 1.4% in State shared sales tax
collections will be closely monitored.
Current Percent
Category Current Month Current YTD Budget of Budget
State Shared Sales Tax $ 158,394.54 $ 472,343.47 $ 2,004,971 23.6%
Urban Revenue Sharing 216,768.14 650,304.97 2,600,828 25.0%
Auto Lieu Tax 85,043.56 268,601.77 1,075,067 25.0%
Total Revenue $ 460,206.24 $ 1,391,250.21 $ 5,680,866 24.5%
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Licenses, permits and fees-
Collections were $0.37 million for September and overall collections
through September are $0.72 million or 43.2% which is slightly higher
than projections. This is primarily due the increased number of single
family residence permits issued through September over expectations
(30 per month actual average vs. 16 per month budgeted).
Current Percent
Category Current Month Current YTD Budget of Budget
SFR new permit $ 73,499.12 $ 312,497.62 $ 560,000 55.8%
SFR existing perrrit 2,321.72 6,609.52 20,000 33.0%
Commercial new permit 154,626.03 179,278.69 200,000 89.6%
Commercial existing perrrit 15,830.42 36,746.14 105,000 35.0%
Grading permit 16,126.78 17,340.54 47,000 36.9%
Utility permits - 1,160.76 3,000 38.7%
Pool permit 4,794.38 11,302.45 25,000 45.2%
Sign pembt 1,041.60 3,444.66 25,000 13.8%
Patio wall permit 2,473.28 4,556.68 10,000 45.6%
ROW permit 1,636.00 7,933.00 22,250 35.7%
Floodplain perrrit 10.00 535.00 500 107.0%
Misc. permit 8,424.33 25,935.94 65,000 39.9%
Franchise fees 76,357.22 76,357.22 300,000 25.5%
Business licenses 7,465.00 31,794.74 125,000 25.4%
Liquor licenses - 1,025.00 6,000 17.1%
Aggregate inning fee 7,068.14 8,218.97 150,000 5.5%
Bank protection fee - - 12,500 0.0%
Total Revenue $ 371,674.02 $ 724,736.93 $ 1,676,250 43.2%
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Expenditures
The General Fund expended $2.06 million in September. Through the
period ending in September, the General Fund expended $5.45 million or
17.8% of budget. The variances in Town Clerk, Streets & Community
Response, and CIP are primarily due to the timing of one-time capital
projects or programs. The variance in non-departmental is largely due to
the timing of debt service transfers which will occur in December 2010.
Percent
Current of
Department Current Month Current YTD Budget Budget
Non-departmental $ 240,992.75 $ 769,010.26 $ 6,125,026 12.6%
Mayor and Council 18,364.47 49,365.73 259,773 19.0%
Town Manager 67,462.63 179,031.88 971,894 18.4%
Town Clerk 16,277.78 47,667.90 376,693 12.7%
Human Resources 44,881.39 91,955.27 402,728 22.8%
F=inance 46,257.05 120,838.80 709,988 17.0%
Legal 63,623.76 153,877.59 752,282 20.5%
Technology Services 163,855.62 395,733.75 1,772,180 22.3%
Development Services GM 12,866.94 36,238.10 180,389 20.1%
Permits and Records 34,334.78 108,240.22 472,374 22.9%
Inspections & Enforcement 32,126.47 87,038.67 473,071 18.4%
Planning 39,466.21 104,824.97 486,155 21.6%
Engineering 97,941.82 316,044.50 1,377,672 22.9%
Police 684,791.24 1,720,911.87 8,920,634 19.3%
Magistrate Court 62,319.21 171,982.17 921,869 18.7%
Public Services GM 34,766.60 84,124.77 411,704 20.4%
Streets & Community Response 95,993.93 219,201.62 2,072,366 10.6%
CIP 81,382.53 147,940.64 1,037,259 14.3%
Parks and Recreation 204,889.91 602,576.32 2,702,957 22.3%
Community Development 16,207.94 43,121.40 202,313 21.3%
Total Expenditures $ 2,058,803.03 $ 5,449,726.43 $ 30,629,327 17.8%
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