Actual Cumulative Revenue Compared to Budget ($ millions)
Desired Result: Above Target
Analysis of Performance
- Government revenue is $11.4M or 3.0% over budget, driven by sales and use tax, transportation fees, and interest revenue.
- General Fund revenue is $1.5M or 0.7% over budget due to sales and use tax and interest revenue and offset by lower general government fees.
- Utility Revenue is $7.0M or 2.7% over budget, driven by electric charges and interest revenues and offset by water charges for services (which are 3.9% under budget).
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.