AgdaPkt 2019-12-16 Joint SA PFA - Laserfiche WebLink

Browse Search

6.A. - Page 3 of 191 • Sales and other taxes increased by $4.5 million, primarily due to an increase of $3.8 million in sales tax revenue and $1.0 million in transient occupancy taxes. Of the sales tax increase, $2.4 million is attributable to the passage of Measure RR. • Licenses and permits revenue increased by $336 thousand, primarily due to an increase in building permit revenue related to increases in building activity ($237 thousand) and the implementation of cannabis permits and related fees, which resulted in new revenue of $264 thousand, offset by a decrease of $165 thousand in fire and other permits. • Use of money and property increased by $1.8 million, due to an increase of $1.1 million in the change in fair value of the City's investments, and an increase in interest income of $743 thousand. • Charges for current services increased by $1.7 million, primarily due to an increase of $1.1 million in revenue received from the City of San Carlos for fire services provided, and an increase of $343 thousand in recreation program revenues. The City continues to rely primarily upon property and sales taxes, as approximately 59 percent of the General Fund revenue is derived from these two sources. Property taxes provided approximately 42 percent of General Fund revenue while sales taxes accounted for approximately 17 percent of General Fund revenue. Expenditures Total General Fund expenditures for FY 2018-19 were $122.6 million. This was $3.2 million, or 2.6 percent less, than the amount expended in FY 2017-18, and $11.3 million, or 8.4 percent less, than the final adjusted budget. Expenditures were less than budgeted due to savings in almost all programs, except environmental support and protection. The Police Department had the largest budget savings of $3.8 million, or 8.6 percent of their total budget. The police program with the highest budget savings was patrol services, which had a budget savings of $3.5 million, or 13.4 percent. All of the savings in this program were due to staffing vacancies. Expenditures in FY 2018-19 were $3.2 million less than FY 2017-18 primarily due to the $7.1 million reduction (from $8.8 million to $1.7 million) in contributions to the Section 115 pension trust account. The City made a General Fund contribution of $8.8 million as an initial deposit to fund the Section 115 pension trust account in January 2018. This decrease was offset by increases in all expenditure categories except leisure, cultural and information services, capital outlay, and interest and fiscal charges. The increases in most categories were primarily due to the increased use of resources related to community development activity, such as planning, building regulation, and administration, and law enforcement and fire safety programs, including increased California Public Employees' Retirement System (CaIPERS) pension costs across all programs. Employee costs continue to represent the highest single source of expenditures, accounting for 69.4 percent of all General Fund expenditures in FY 2018-19 (not including the $1.7 million contribution to the Section 115 Trust investment account). This is down from 72.8 percent for FY 2017-18. Utility Users' Tax/Communication Users' Tax Revenues Pursuant to section 32.621 of the City's municipal code, the following information must be conveyed to the City Council: Page 3 of 6 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore 10