Analysis of Performance
Actual Cumulative Revenue Compared to Budget is a quarterly measure that compares the actual revenues received, in both governmental funds and utility funds, to budgeted revenues. Exceeding this target means that the City received higher revenues than anticipated. Failing to meet the target indicates that revenues were lower than expected.
Sales& Use Tax: $7.5M in sales tax and $1.9M in use tax. City is experiencing continued growth in sales tax revenue.
Property Tax: ($1.8M) for the property tax increment due to the the Mall Urban Renewal Area district.
General Government Fees: ($853K) for PPO contributions, as part of the deliberate spend down of funds in an effort to keep insurance premiums low.
Other Miscellaneous: ($1.3M) in contributions from CSU for bus service. ($850K) in proceeds from lottery due to the timing of the Conservation Trust Fund payments. ($729K) in other intergovernmental due to the timing of Transfort payments.($709K) in Planning and Development fees.
Electric Charges for Services: Residential revenues are 10.5%, or $2,682, over budget and Commercial revenues are 5.0%, or $1,014, over budget. Industrial revenues are 2.1%, or $325, under budget.
Water Charges for Services: Residential water sales are 7.5%, or $513, over budget, Commercial/Industrial water Sales are 11.2%, or $382, over budget, and District water sales are 14.4%, or $100, over budget, offset by Other water sales, which are 53.9%, or ($361), under budget.
Wastewater Charges for Services: Commercial/Industrial revenues are 3.4%, or $95, under budget offset slightly by Residential revenues are 0.9%, or $68, over budget.
Stormwater Charges for Services: Non-Single Family Residential revenues are 1.0%, or $52, under budget, followed by Single Family revenues at 0.1%, or $6, under budget.
Development Fees/PIFs/Contributions: Light & Power $3,332 (there are several large construction projects driving the over budget amount), Wastewater $97, and Stormwater $87, and Water ($140).
Other Miscellaneous: Light and Power ($257) (Warehouse adjustment & Misc. revenue), CS&A $149, Wastewater $88, Stormwater $21, and Water $5.
*Totals exclude unrealized investment gains/losses.
Why Is This Important?
City Organization Impact on Performance
High – The City has direct control over its revenue forecasts. Historical analysis of actual revenue compared to budgeted revenue, along with a good understanding of the economic climate should allow the City to improve the accuracy of its revenue forecasts.