Attachment 4
FY2024-25 Mid-Year (Revenue Amendments)
Dept Fund
Description of
Item/Service Costs +/(-) Justification/Purpose
Non-Dept GF General Fund 100 Property Tax - ERAF 1,000,000 Revision from the County, from $4M to $5M Non-Dept GF General Fund 100 Property Tax - Former
RDA 3,100,000 Revision from the County & staff review, from $11M to $14.1M
Non-Dept GF General Fund 100 Property Tax - In Lieu
of VLF 2,800,000 Adjustment to improved accounting procedures, from $7M to $9.8M
Non-Dept GF General Fund 100 Sales Tax (2,000,000) Revision from Sales Tax Consultant from $22.6 to $20.6M Non-Dept GF General Fund 100 Business License Tax 1,000,000 Update due to Measure passing. Full amount will likely follow a collection program which will result in some of the new revenue being delayed to the next fiscal year. Further, much of the new funds are tied to contractors on large projects and as noted below, Building is expecting some delay on that.
Non-Dept GF General Fund 100 Transient Occupancy
Tax 336,000 Days Inn and Remanda Inn paying back taxes. Was not budgeted.
Non-Dept GF General Fund 100 Rental Revenue 1,204,000 Back payment on contracted. Was not budgeted.
Non-Dept GF General Fund 100 Measure W Transfer (3,000,000) Elimnate transfer from Measure W.
Non-Dept Not GF Measure W 101 Measure W (1,500,000) Revision from Sales Tax Consultant from $16M to $14.5M ECD General Fund 100 BIO 2025 15,000 projected sponsership ECD General Fund 100 Rev Adjustment (1,000,000)
Inspection fees are at 30% of budget through December. This assumption is that revenues will return to expectations in the remainder of the year but not pick up to cover the shortfall thus far. Staff know of two large projects that could come through which would bump this revenue up but can't estimate the timing.
FIRE General Fund 100 Revenue Increase 600,000
Through Dec. revenue is over 90% of projection. This increase is roughly 50% of the original budget, an estimate of activity returning to prior expectations.
FIRE General Fund 100 Mutual Aide Support 550,000 Based on note above.
FIRE General Fund 100 MidiCaid contractors 395,000 Based on current plus $350,000 monthly for remaining months.
FIRE General Fund 100 GEMT (200,000) 10% reduction in GEMT (prior year).
PW-ENG General Fund 100 Revenue Increase 860,000 Through Dec. revenue is over 70% of projection. This increase assumes activity remains elevated through the year.
Requests by
Department:
(in thousands)
YES
(ONGOING) YES (One-time) Total Requests
Non-Dept GF 5,900,000 (1,460,000) 4,440,000
ECD - (985,000) (985,000)
FIRE - 1,345,000 1,345,000
PW-ENG - 860,000 860,000
Total GF 5,900,000 (240,000) 5,660,000
Measure W (1,500,000) - (1,500,000)