Title
Staff Report for a Resolution Approving City Manager Recommended Amendments to the City of San Leandro Budget for Fiscal Year 2016-17 (amends the General Fund, Special Revenue Funds, Enterprise Funds, Internal Service Funds and Successor Agency Fund budget)
Staffreport
SUMMARY AND RECOMMENDATIONS
Staff recommends that the City Council review and approve the City Manager recommended amendments to the 2016-17 Budget.
BACKGROUND
The City Council approves annual budgets based on the best revenue and expenditure information available several months prior to the actual adoption of budget appropriations. As a result, budget adjustments are periodically necessary for changes that arise and require additional budget appropriations or re-appropriations between budget line items and fund reserves. The City Council originally approved the 2016-17 Budget on June 1, 2015.
Discussion
As a result of the January 30, 2016 City Council Winter Planning Session and Council's direction communicated in subsequent Council meetings, the City Manager proposes increases to the new fiscal year 2016-17 budget, not originally considered during the biennial budget process.
Revenues:
The general fund revenue increase is mostly attributed to five revenue sources:
* Property tax revenues $1.9 million - assessed property values increased
* Sales tax revenues $1.2 million - economy stronger than projected
* Utility Users' tax revenues $1.3 million - electricity and gas rates increased
* Business license tax revenues $0.5 million - increased estimate based on actuals
* 9-1-1 tax revenues $0.1 million - increased estimate based on actuals
Special revenue fund amounts have decreased mostly due to the State Highway Users Gas Tax and the Alameda County Transportation Commission Vehicle Registration Fee decreasing.
Use of fund balance increased due to increased CIP funding of $973,650 for eight new projects and increased vehicle and equipment replacement of...
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