1/8/20249:20 AM
CITY OF PALO ALTO
GENERAL FUND FIRST QUARTER FINANCIAL REPORT
FISCAL YEAR ENDING JUNE 30, 2024
(in thousands)
BUDGET ACTUALS (as of 9/30/2023)
Adopted Adjusted Pre % of Adj
Categories Budget Budget Encumbr Encumbr Actual Budget* Revenues & Other Sources
Sales Tax 36,272 36,272 - - 2,548 7.0% Property Tax 63,785 63,785 - - 85 0.1% Transient Occupancy Tax 26,834 26,834 - - 2,723 10.1% Documentary Transfer Tax 5,920 5,920 - - 1,368 23.1% Utility Users Tax 18,457 18,457 - - 3,876 21.0% Other Taxes and Fines 3,417 3,417 - - 240 7.0% Charges for Services 35,131 35,131 - - 6,462 18.4% Permits & Licenses 10,151 10,256 - - 2,597 25.3% Return on Investment 1,846 1,846 - - 204 11.1% Rental Income 15,858 15,858 - - 3,910 24.7% From Other Agencies 3,333 8,133 - - 312 3.8% Charges To Other Funds 15,496 15,496 - - 3,901 25.2% Other Revenues 636 1,713 - - 174 10.1% Total Revenues 237,136 243,117 - - 28,400 11.7% Operating Transfers-In 23,932 23,932 - - 5,983 25.0% Encumbrances and Reappropriation 15,000 43,471 - - - 0.0% Contribution from Development Services Reserves 1,084 1,084 - - - 0.0% Total Sources of Funds 277,152 311,604 - - 34,383 12.9% Expenditures & Other Uses
City Attorney 4,668 5,287 20 763 1,031 34.3% City Auditor 986 1,692 0 843 19 51.0% City Clerk 1,491 1,641 50 170 276 30.2% City Council 439 541 3 81 126 38.8% City Manager 4,715 4,823 254 144 1,088 30.8% Administrative Services 11,099 11,250 44 371 2,423 25.2% Community Services 38,224 39,853 1,006 3,737 8,145 32.3% Fire 46,761 47,464 96 589 12,513 27.8% Human Resources 4,747 5,280 25 275 1,036 25.3% Library 12,138 12,599 105 598 2,602 26.2% Office of Emergency Services 1,576 1,981 55 247 275 29.1% Office of Transporation 2,704 5,207 - 1,787 638 46.6% Planning and Development Services 26,055 30,049 13 2,263 5,054 24.4% Police 51,764 52,241 403 727 13,309 27.6% Public Works 23,668 25,563 118 1,793 4,834 26.4% Non-Departmental 14,893 35,079 45 1,166 1,170 6.8% Total Expenditures 245,928 280,549 2,238 15,555 54,538 25.8% Operating Transfers-Out 5,042 5,042 - - 1,261 25.0% Transfer to Infrastructure 28,538 28,538 - - 7,134 25.0% Total Use of Funds 279,508 314,129 2,238 15,555 62,933 25.7% Net Change to BSR (2,356) (2,525) (28,550)
Budget Amendments in the General Fund Authorized by Council thru 9/30/2023 (28,996) zfir 43 net inc Crossing Guard Services Contract (8/7/2023) CMR#2307-1797 (169) 446 diff breakdown
Total Budget Amendments Authorized by Council - (169) BSR Balance 57,649 57,480
BSR % of Adopted Total Use of Funds 20.6% 20.6%
Attachment A