Cities Index.
Exhibit 1: Revenue and Expenditure Report

Alameda City Council
April 16, 2024

Document
Exhibit 1: Revenue and Expenditure Report
Meeting
April 16, 2024
Body
Alameda City Council
Original file
2.5 MB
Text extracted from the city's file for reading and search. Open the original on legistar1.granicus.com. That file is the official record.

1 This second quarter nancial report summarizes the City of Alameda’s (City) nancial position for the period between July 1, 2023 and December 31, 2023, unaudited, for all City Funds, with a focus on the General Fund. The purpose is to provide City Council, City Management, and the Alameda community an update on the City’s scal status based on the most recent nancial information available.

General Fund Revenues (unaudited)
Visualization
Q2 2022-23 Actual Q2 2023-24 Actual 2023-24
Revised Budget
Fiscal Y ear Through December (cumulative amounts)

0.0 50.0M
100.0M
Dollars
T axes
Fees and Charges for Servic…
Transfers In
Investment and Property In…
Intergovernmental Revenue
Sort Large to Small 
,, ,, ,, ,, .%
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.%
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T axes
Property T ax
Sales T ax
Property Transfer T ax
Utility Users T ax
Business License T ax
Franchise Fees
Transient Occupancy T ax
Other T axes
Fees and Charges for Services
Transfers In
Investment and Property Income
Intergovernmental Revenue
Fines/Forfeiture/Penalty
Other Revenue
Licenses and Permits
Total
Q2 2022-23 Actual Q2 2023-24 Actual
2023-24
Revised Budget
2023-24 Variance 2023-24 VarianceCollapse All
Revenue and Expenditure Report
2nd Quarter FY 2023-24
E
Exhibit 1
2 Property tax, sales tax, property transfer tax, and utility user tax are the City’s major tax revenues, accounting for approximately 78% of total General Fund budgeted revenues in FY 2023-24.

General Fund revenues through the second quarter of FY 2023-24 increased by 12.6% when compared to the same period last year.

Property taxes increased by 8.2% year-over-year.

Sales taxes increased 26.9%. It should be noted that sales tax receipts are recorded about two to three months after the transaction occurred. In FY 2022-23 sales transactions through the end of September had been recorded at the end of the second quarter, whereas transactions through the end of October had been recorded at the end of the second quarter in FY 2023-24.

Property transfer tax decreased by 9.0% due to lower volume of private real estate transactions.

Utility user tax increased by 1.3%.

General Fund Expenditures by Department, excluding Non-Department (unaudited)
Visualization
Q2 2022-23
Actual
Q2 2023-24
Actual
2023-24
Revised Budget
Fiscal Y ear Through December (cumulative amounts)

0.0 20.0M

40.0M

60.0M

80.0M
100.0M
120.0MDollars
Fire
Police
Recreation and Parks
Public Works
City Manager
Finance
City Attorney
Human Resources
More (4 grouped)
Sort Large to Small 
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
, , ,, ,, .%
,, , ,, ,, .%
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, , , , .%
, , , , .%
, , , , .%
,, ,, ,, ,, .%
Fire
Police
Recreation and Parks
Public Works
City Manager
Finance
City Attorney
Human Resources
Base Reuse & Economic Development
City Clerk
Planning/Bldg/Transportation
City Council
Total
Q2 2022-23 Actual Q2 2023-24 Actual
2023-24
Revised Budget
2023-24 Variance 2023-24 VarianceExpand All
Exhibit 1
3 General Fund expenditures through the second quarter for all departments came in below 50% of authorized budget appropriations. General Fund expenditures increased substantially year-over-year in the City Manager, Base Reuse & Economic Development, and the Planning, Building & Transportation departments due to the following program re-organizations:

The re-organized Housing and Human Services Division transferred from the Base Reuse & Economic Development Department to the City Manager’s Oce in FY 2023-24.

Economic development activity previously covered by Fleet Industrial Service Center income transitioned to the General Fund in FY 2023-24.

The Climate Action and Resiliency program transferred from the City Manager’s Oce to the Planning, Building & Transportation department in FY 2023-24.

General Fund Expenditures by Category (unaudited)
Visualization
Q2 2022-23
Actual
Q2 2023-24
Actual
2023-24
Revised Budget
Fiscal Y ear Through December (cumulative amounts)

0.0 100.0M

25.0M

50.0M

75.0M
125.0M
150.0MDollars
Salaries and Employee Ben…
Transfers Out
Cost Allocation
Operating Expenditures
Capital Outlay
Debt Service
Sort Large to Small 
,, ,, ,, ,, .% ,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
, , ,, ,, .%
, .%
,, ,, ,, ,, .% Salaries and Employee Benefits
Transfers Out
Cost Allocation
Operating Expenditures
Capital Outlay
Debt Service
Total
Q2 2022-23 Actual Q2 2023-24 Actual
2023-24
Revised Budget
2023-24 Variance 2023-24 VarianceExpand All
The largest spending category in the General Fund is employee salaries and benets. Of the $160.5 million budgeted in the General Fund in FY 2023-24, employee salaries and benets represent $87.0 million, or 54.2%. Salaries and benets increased by 4.4% through the second quarter year-over-year.

Transfers Out involve a transfer of funds from the General Fund to another City fund. The largest budgeted transfer out is $20.3 million to the Capital Improvement Program, which includes $15 million for the new Aquatic Center. The transfers out are completed after the capital expenses are incurred.

Cost Allocation involves the interdepartmental charges for services provided by City departments to other departments, such as the general liability and workers' compensation programs, eet and facilities Exhibit 1
4 maintenance and replacement, and information technology operations and equipment.

Operating Expenditures covers contracts for services, materials and supplies for day-to-day operations, utilities, professional development, equipment leases, and fees and charges. Operating expenditures through the second quarter increased from FY 2022-23 to FY 2023-24 by 10.2%, from $5.0 million to $5.5 million.

Capital Outlay involves acquisition of furniture, xtures, equipment, or property with a value over $10,000 per unit.

Debt Service covers the principal and interest payments on leased equipment. Starting in FY 2023-24, the Fire Department's leased equipment is tracked in a Debt Service Fund rather than the General Fund.

Revenue Summary - All Funds (unaudited)
Visualization
Q2 2022-23
Actual
Q2 2023-24
Actual
2023-24
Revised Budget
Fiscal Y ear Through December (cumulative amounts)

0.0 50.0M
100.0M
150.0M
200.0M
250.0M
300.0M
-50.0MDollars
General Fund
Special Revenue Fund
Capital Projects Fund
Internal Service Fund
Enterprise Fund
Debt Service Fund
Fiduciary Fund
Agency Fund
Sort Large to Small 
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, -,, -.%
-,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
General Fund
Special Revenue Fund
Capital Projects Fund
Internal Service Fund
Enterprise Fund
Debt Service Fund
Fiduciary Fund
Agency Fund
Total
Q2 2022-23 Actual Q2 2023-24 Actual
2023-24
Revised Budget
2023-24 Variance 2023-24 VarianceExpand All
Revenues received across all funds through the second quarter of FY 2023-24 are up by $14.8 million, or

10.0%, year-over-year.

Exhibit 1
5 Expenditure Summary - All Funds (unaudited)
Visualization
Q2 2022-23
Actual
Q2 2023-24
Actual
2023-24
Revised Budget
Fiscal Y ear Through December (cumulative amounts)

0.0 100.0M
200.0M
300.0M
400.0MDollars
General Fund
Special Revenue Fund
Capital Projects Fund
Internal Service Fund
Enterprise Fund
Fiduciary Fund
Debt Service Fund
Agency Fund
Sort Large to Small 
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
,, ,, ,, ,, .%
, , ,, ,, .%
,, ,, ,, ,, .%
General Fund
Special Revenue Fund
Capital Projects Fund
Internal Service Fund
Enterprise Fund
Fiduciary Fund
Debt Service Fund
Agency Fund
Total
Q2 2022-23 Actual Q2 2023-24 Actual
2023-24
Revised Budget
2023-24 Variance 2023-24 VarianceExpand All
Expenditures incurred across all funds through the second quarter of FY 2023-24 are down by $3.0 million, or 2.4%, year-over-year.

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Exhibit 1

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