Actual Cumulative Revenue Compared to Budget ($ millions)

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Desired Result:  Above Target

 
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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. 

Governmental Funds

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. 

 

Utilities Funds

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.

 



Metric Definition
This metric covers differences from anticipated (budgeted) and actual revenue. Revenue includes taxes, fees, grants, fines, interest earnings, etc. Revenue is separated into Governmental and Enterprise depending on the activity it supports. Governmental revenues are typically taxes, grants and fines used to support police, streets, museum, fire and parks. Examples of Enterprise revenue are fees for energy, water, wastewater and golfing.
Why Is This Important?
Accuracy to budgeted revenue is very important to ensure the City can cover its budgeted expenses while maintaining healthy fund balances. The City strives to do a better job being accurate with our revenue forecasts.
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.

Benchmark Information
This metric contains no benchmark data because the target for this metric is not influenced by the performance of other cities. External reference points would add no value to the data because the City's goal is always to be as accurate as possible with its own budgeted revenues.