SR-202-002 (7)A (2)
B
A
Print_Area_MI
Print_Area_MI
Print_Titles_MI
Print_Titles_MI
FY 1999-00 MID-YEAR REVENUE ANALYSIS
FY 1999-00
Revised Budget +
FY 1999-00
Fund/Major
Proposed
Estimated
Revenue Account
Changes
Actual
Variance
Comment
_
_
_
_
_
General Fund
____________
Utility User's Tax
$24,275,000.00
$24,065,000.00
($210,000.00)
Decrease primarily due to less than anticipated
revenues from telephone services
Sales Tax
22432000.00
23300000.00
868000.00
Increase due to greater than anticipated economic
activity in the City. Anticipated losses from e-commerce
have been more than offset by the continuing expansion
in the local, State, and national economies.
Property Taxes
15678030.00
15336513.00
-341517.00
Decrease primarily due to less than anticipated unsecured, supplemental, and delinquent tax collections.
Transient Occupancy Tax
17590000.00
17500000.00
-90000.00
Decrease primarily due to a delay in the opening of a new luxury hotel in the City.
Business License Tax
14721000.00
15300000.00
579000.00
The 3.9% increase is due primarily to greater than anticipated revenues from all business categories.
Municipal Ordinance Violations
7800000.00
7460000.00
-340000.00
Decrease reflects lower than anticipated issuance of
parking citations.
On Street Meters
3680000.00
3800000.00
120000.00
Reflects increase in economic activity in the downtown
area.
Structure Attendant Parking
3670000.00
3920000.00
250000.00
Reflects increase in economic activity in the downtown area, partially offset by the closure of a portion of one of the structures for renovation work.
Motor Vehicle In-Lieu
4211513.00
4650000.00
438487.00
Reflects greater Statewide registrations of new
vehicles.
Parking Facilities Tax
4867000.00
4650000.00
-217000.00
Rate of growth of tax revenues is less than anticipated
Interest
5627412.00
6986912.00
1459500.00
100000.00
5334846.00
5962960.00
628114.00
-292566.00
Decrease due to a lower than anticipated investable
fund balance.
Real Property Transfer Tax
3240000.00
3600000.00
360000.00
Increase primarily due to more transfers of very large
commercial properties in the City.
All Others
55188302.00
179735307.00
3100000.00
44950.00
100000.00
57476797.00
2288495.00
Increase primarily due to a net increase of $2,304,284 in one-time revenues primarily resulting from the sale of Santa Monica Place partially offset by a delay in the sale of air rights
at the 4th Street 202 project. Partially offsetting at the 4th Stree
-
-
-
Total General Fund
$182,980,257.00
$186,393,156.00
$3,412,899.00
Beach*
4530834.00
4101870.00
-428964.00
Decrease primarily due to less than anticipated
revenues from beach parking reflecting weather
and other conditions, partially offset by increased
interest earnings.
Housing Authority*
7872358.00
6914763.00
-957595.00
Decrease reflects a lower than anticipated number
number of housing units participating in the
program.
TORCA*
4414426.00
4191473.00
222953.00
4414426.00
0.00
On Budget
Redevelopment Funds* (a)
81518925.00
81787925.00
936800.00
12953000.00
2985200.00
544000.00
17688000.00
81614999.00
96074.00
Variance due to greater than anticipated
(Ocean Park, Downtown, EQ
interest earnings.
Community Development*
8021061.00
6510410.00
-1510651.00
Decrease primarily due to the shifting of
Block Grant
the use of earthquake recovery grant
funds to future years.
Miscellaneous Grants*
13828587.00
13521049.00
245000.00
62538.00
12801774.00
13063846.00
262072.00
-1026813.00
Decrease primarily reflects timing
changes in the receipt of various grants.
Citizens Option for Public Safety*
219358.00
219358.00
0.00
On Budget.
Water**
17548101.00
16660025.00
-888076.00
Primarily reflects a decrease in reimbursements
from oil companies for MTBE-related costs,
partially offset by greater interest earnings.
Solid Waste Management**
14228945.00
14228945.00
0.00
On Budget
Pier**
2837919.00
2246489.00
-591430.00
Decrease primarily due to less than
anticipated Carousel fee revenues and
Pier rental revenues partially offset by
higher interest earnings.
Wastewater**
24295097.00
32490276.00
8195179.00
Increase primarily reflects timing changes in
various sewer-related projects resulting in a
greater than anticipated reimbursement this
fiscal year from the City of Los Angeles for its
share of costs and greater than anticipated use
this year of wastewater capital facility fees.
Auditorium**
2331590.00
2494164.00
162574.00
Increase primarily due to greater than
anticipated auditorium rentals and interest
earnings partially offset by lower parking
revenues.
Airport/Special Aviation**
3081214.00
3072671.00
8543.00
3197779.00
3189236.00
8543.00
116565.00
Increase due to greater than anticipated
interest earnings.
Stormwater Management**
2632498.00
2632498.00
0.00
On Budget.
Cemetery**
386998.00
416490.00
29492.00
Increase due to greater than anticipated
interest earnings.
Transportation**
26971314.00
27336481.00
365167.00
Increase primarily due to unanticipated Prop A
and Prop C funding from the Los Angeles
County Metropolitan Transit Authority partially
offset by a reallocation of State Transportation
Act funds from the operating budget to capital
project uses.
Gas Tax*
1740609.00
1776620.00
36011.00
Increase due to greater than anticipated
interest earnings.
Cable**
386565.00
386565.00
0.00
On Budget
Parks and Recreation*
50366.00
80366.00
30000.00
Increase due to greater than anticipated
Unit Dwelling Tax revenues.
Vehicle Management Fund**
9708995.00
9708995.00
0.00
On Budget.
Computer Equipment
1487711.00
1487711.00
0.00
On Budget
Replacement Fund **
Self Insurance Funds**
a) Comprehensive
2681997.00
2681997.00
0.00
On Budget.
b) Bus
1226626.00
1226626.00
0.00
On Budget
c) Automobile
551867.00
551867.00
0.00
On Budget.
d) Worker's Compensation
3415454.00
3415454.00
0.00
On Budget.
Parking Authority**
990302.00
1047000.00
56698.00
Increase due to greater than anticipated
interest earnings.
_
_
_
Total All Funds
$419,939,974.00
$427,037,104.00
$7,097,130.00
Less Reimbursements
& Transfers
-26149493.00
-25965293.00
184200.00
Reflects lower reimbursement from the General
Fund to the Transportation Fund for rentals at
the 612 Colorado property. The Transportation
Department will be using much of the space
during renovation of its main building.
_
_
_
Total Net (Revised
$393,790,481.00
$401,071,811.00
$7,281,330.00
12/31/99)
Less Proposed
Changes (Net)
3506441.00
3100000.00
44950.00
100000.00
222953.00
936800.00
12953000.00
2985200.00
17688000.00
544000.00
245000.00
62538.00
Less Council
Revisions (Net)
86205629.00
_
Total Net (Adopted)
$304,078,411.00
*
*
*
*
*
*
*
*
*
Disaster Relief*
$28,020,773.00
$28,020,773.00
$0.00
On budget.
*
*
*
*
*
*
*
*
*
* Special Revenue Funds
** Enterprise and Internal Service Funds
Other
Development Related
-55245.00
3740018.00
3795263.00
Housewreck
2000.00
Sr Trips
-14600.00
Street Resurfacing
-97407.00
Community Classes
68900.00
Police Billable
58488.00
Fingerprinting
-22910.00
Sidewalk Repair
-100421.00
Hazardous/Toxic
-14000.00
Incidental Street Resur
-29900.00
Vehicle Code
-29498.00
Rent Other/Conc
10000.00
KEC Rentals
-13652.00
Farmers Market
44950.00
*
smplace parking
58224.00
468400.00
410176.00
(on-going)
SM Place
4062389.00
Pound Fees
-14532.00
SM Place Parking
410176.00
one-time
-194553.00
Target
126719.00
Reim from RDA
3100000.00
Budget Increased
Oceana
-45000.00
Sale of Air Rights
-2250000.00
----------------
2304284.00
-194553.00
*Budget Increase
2109731.00
2109731.00
FY 1999-00 MID-YEAR REVENUE ANALYSIS
FY 1999-00
Revised
Budget +
FY 1999-00
Fund/Major
Proposed
Estimated
Revenue Account
Changes
Actual
Variance
Comment
_
_
_
_
_
General Fund
____________
Utility User's Tax
$24,275,000.00
$24,065,000.00
($210,000.00)
Decrease primarily due to less than
anticipated revenues from telephone
service.
Sales Tax
22432000.00
23300000.00
868000.00
Increase due to greater than anticipated
economic activity in the City. Anticipated
losses from e-commerce have been more
than offset by the continuing expansion in the
local, State, and national economies.
Property Taxes
15678030.00
15336513.00
-341517.00
Decrease primarily due to less than
anticipated unsecured, supplemental, and
delinquent tax collections.
Transient Occupancy Tax
17590000.00
17500000.00
-90000.00
Decrease primarily due to a delay in the
opening of a new luxury hotel in the City.
Business License Tax
14721000.00
15300000.00
579000.00
The 3.9% increase is due primarily to greater
than anticipated revenues from all business
categories.
Municipal Ordinance
7800000.00
7460000.00
-340000.00
Decrease reflects lower than anticipated
Violations
issuance of parking citations.
On Street Meters
3680000.00
3800000.00
120000.00
Reflects increase in economic activity in the
downtown area.
Structure Attendant Parking
3670000.00
3920000.00
250000.00
Reflects increase in economic activity in
the downtown area, partially offset by the
closure of a portion of one of the structures
for renovation work.
Motor Vehicle In-Lieu
4211513.00
4650000.00
438487.00
Reflects greater Statewide registrations of new
vehicles.
Parking Facilities Tax
4867000.00
4650000.00
-217000.00
Rate of growth of tax revenues is less than
anticipated.
Interest
5627412.00
6986912.00
1459500.00
100000.00
5334846.00
5962960.00
628114.00
-292566.00
Decrease due to a lower than anticipated
investable fund balance.
Real Property Transfer
3240000.00
3600000.00
360000.00
Increase primarily due to more transfers
Tax
of very large commercial properties in the
City.
All Others
55188302.00
55188302.00
179735307.00
3100000.00
44950.00
100000.00
57298033.00
186214392.00
2109731.00
Increase primarily due to a net increase of
$2,304,284 in one-time revenues primarily
resulting from the sale of Santa Monica Place
partially offset by a delay in the sale of air rights
at the 4th Street 202 project. Partially offsetting
is a net decrease from budget of $194,553 in
revenue from miscellaneous on-going sources.
-
-
-
Total General Fund
$182,980,257.00
$186,214,392.00
$3,234,135.00
Beach*
4530834.00
4101870.00
-428964.00
Decrease primarily due to less than anticipated
revenues from beach parking reflecting weather
and other conditions, partially offset by increased
interest earnings.
Housing Authority*
7872358.00
6914763.00
-957595.00
Decrease reflects a lower than anticipated
number of housing units participating in the
program.
TORCA*
4414426.00
4191473.00
222953.00
4414426.00
0.00
On Budget
Redevelopment Funds* (a)
81518925.00
81787925.00
81518925.00
81787925.00
936800.00
12953000.00
2985200.00
544000.00
17688000.00
81614999.00
96074.00
Variance due to greater than anticipated
(Ocean Park, Downtown, EQ
interest earnings.
Community Development*
8021061.00
6510410.00
-1510651.00
Decrease primarily due to the shifting of
Block Grant
the use of earthquake recovery grant
funds to future years.
Miscellaneous Grants*
14090659.00
13521049.00
262072.00
245000.00
62538.00
13063846.00
-1026813.00
Decrease primarily reflects timing
changes in the receipt of various grants.
Citizens Option for Public Safety*
219358.00
219358.00
0.00
On Budget.
Water**
17548101.00
16660025.00
-888076.00
Primarily reflects a decrease in reimbursements
from oil companies for MTBE-related costs,
partially offset by greater interest earnings.
Solid Waste Management**
14228945.00
14228945.00
0.00
On Budget
Pier**
2837919.00
2246489.00
-591430.00
Decrease primarily due to less than
anticipated Carousel fee revenues and
Pier rental revenues partially offset by
higher interest earnings.
Wastewater**
24295097.00
32490276.00
8195179.00
Increase primarily reflects timing changes in
various sewer-related projects resulting in a
greater than anticipated reimbursement this
fiscal year from the City of Los Angeles for its
share of costs and greater than anticipated use
this year of wastewater capital facility fees.
Auditorium**
2331590.00
2494164.00
162574.00
Increase primarily due to greater than
anticipated auditorium rentals and interest
earnings partially offset by lower parking
revenues.
Airport/Special Aviation**
3081214.00
3072671.00
8543.00
3197779.00
3189236.00
8543.00
116565.00
Increase due to greater than anticipated
interest earnings.
Stormwater Management**
2632498.00
2632498.00
0.00
On Budget.
Cemetery**
386998.00
416490.00
29492.00
Increase due to greater than anticipated
interest earnings.
Transportation**
26971314.00
27336481.00
365167.00
Increase primarily due to unanticipated Prop A
and Prop C funding from the Los Angeles
County Metropolitan Transit Authority partially
offset by a reallocation of State Transportation
Act funds from the operating budget to capital
project uses.
Gas Tax*
1740609.00
1776620.00
36011.00
Increase due to greater than anticipated
interest earnings.
Cable**
386565.00
386565.00
0.00
On Budget
Parks and Recreation*
50366.00
80366.00
30000.00
Increase due to greater than anticipated
Unit Dwelling Tax revenues.
Vehicle Management Fund**
9708995.00
9708995.00
0.00
On Budget.
Computer Equipment
1487711.00
1487711.00
0.00
On Budget
Replacement Fund **
Self Insurance Funds**
a) Comprehensive
2681997.00
2681997.00
0.00
On Budget.
b) Bus
1226626.00
1226626.00
0.00
On Budget
c) Automobile
551867.00
551867.00
0.00
On Budget.
d) Worker's Compensation
3415454.00
3415454.00
0.00
On Budget.
Parking Authority**
990302.00
1047000.00
56698.00
Increase due to greater than anticipated
interest earnings.
_
_
_
Total All Funds
$420,202,046.00
$427,120,412.00
$6,918,366.00
Less Reimbursements
& Transfers
-26149493.00
-25965293.00
184200.00
Reflects lower reimbursement from the General
Fund to the Transportation Fund for rentals at
the 612 Colorado property. The Transportation
Department will be using much of the space
during renovation of its main building.
_
_
_
Total Net (Revised
$394,052,553.00
$401,155,119.00
$7,102,566.00
12/31/99)
Less Proposed
Changes (Net)
3768513.00
3100000.00
44950.00
100000.00
222953.00
936800.00
12953000.00
2985200.00
17688000.00
544000.00
262072.00
245000.00
62538.00
Less Council
Revisions (Net)
86205629.00
_
Total Net (Adopted)
$304,078,411.00
*
*
*
*
*
*
*
*
*
Disaster Relief*
$28,020,773.00
$28,020,773.00
$0.00
On budget.
*
*
*
*
*
*
*
*
*
* Special Revenue Funds
** Enterprise and Internal Service Funds