Title
Finance Committee Meeting Highlights of October 21, 2011
Body
CITY COUNCIL FINANCE COMMITTEE
October 21, 2011
8:15 a.m. - 9:45 p.m.
San Leandro City Hall
835 E. 14th Street
San Leandro, California
(Sister Cities Gallery)
HIGHLIGHTS
Committee Members: Mayor Cassidy, Vice Mayor Gregory
Absent: Councilmember Souza
City Staff Present: Interim City Manager Marshall, Interim Finance Director O’Leary, Public Works Director Bakaldin, Deputy Finance Director Rodriguez, Budget and Compliance Manager Perini, Sr. Accountant Galvin, Administrative Assistant III Perez
Public Present: None
The meeting was called to order at 8:15 a.m.
1. Discussion Regarding Quarterly Financial Report as of September 30, 2011 for 2011-12 General Fund, Special Revenue Funds, Enterprise Funds, and Internal Service Funds Budgets
Interim Finance Director O’Leary reported to the Finance Committee the quarterly financial report as of September 30, 2011for all funds. Mr. O’Leary reported the total revenue for the first quarter of FY 2011-12 is 10% of the General Fund budget, which is slightly higher than the percentage at the same time last year. Expenditures are currently 23% of the budget amount, which Mr. O’Leary states as being on track. Sales, Property, and Utility User Taxes remain steady however there has been a slight decrease in Real Property Transfer Taxes as sales have continued to decline. The increase of revenue is mainly due to the increase in Charges for Services as well as Licenses & Permits due to the Kaiser construction.
Mr. O’Leary also reported on the revenue and expenditures of the Special Revenue, Enterprise, and Internal Service Funds budgets as well.
Councilmember Gregory requested that a graph be provided in the next report for a better view of revenue and expenditure trends.
Mayor Cassidy inquired about the Public Education & Government Access Fee (PEG). Mr. O’Leary stated that the PEG revenue came in late last year and this fiscal year, the ...
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