title
ACCEPT THE FISCAL YEAR 2017-18 SECOND QUARTER BUDGET STATUS UPDATE
recommended action
RECOMMENDATION
It is recommended that the City Council adopt a resolution to:
1. Accept this budget status report on the results of the second quarter of Fiscal Year (FY) 2017-18.
2. Authorize the recommended transfers and budget amendments to the FY 2017-18 Annual Budget in the General Fund, the General Capital Fund (301), the Measure K Fund, the Public Facilities Fee Traffic Signals Fund, the Public Facilities Fees Streets Fund, and the Police Special Revenue Grants Fund.
It is further recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of the resolution.
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Summary
A review of the financial results for the second quarter of FY 2017-18 indicates revenues and expenditures are tracking close to budgeted estimates with variances of one to two percent. Through the second quarter, General Fund revenues totaled $50.3 million, and expenses totaled $110.0 million. If current trends continue, the overall General Fund expenditures will end the year approximately $3.4 million (one percent) below budget, due primarily to higher-than-expected position vacancies. Expenditures are projected to exceed the budget in three areas by year-end, but additional revenues included in the year-end revenue projection directly offset more than half of the projected overages. Revenue collections are currently projected to end the year approximately $2.6 million (one percent) higher than budgeted. The net effect of projected revenues increases and expenditure decreases will be an increase of approximately $6 million to the General Fund’s ending available balance for a total projected balance of $46.6 million. Staff will continue to monitor revenues and expenditures and will return to Council with a third-quarter report in June.
Staff reviewed all other City funds to determine significant budget variances and identified five instances where amendments to the Adopted Budget are recommended to account for additional revenues, changes in funding sources and increased funding needs.
|
Fund |
Description |
Amendment Amount |
|
Fire Department General Fund |
Wildland Fire Reimbursement |
$ 743,000 |
|
General Fund and General Capital Fund (301) |
Successor Agency Loan Repayment adjustment |
$ 694,991 |
|
General Fund and General Capital Fund (301) |
Capital Project funds redistribution |
$ 158,950 |
|
Police Grant Fund |
Community Corrections Partnership funding increase |
$ 405,266 |
|
Public Works Measure K and Public Facility Fee Funds |
Proportionate Share Reimbursement |
$1,793,197 |
These amendments are described later in this report and included in the proposed Council resolution.
DISCUSSION
Background
The Council remains committed to transparency and financial responsibility with the continuation of Fiscal Sustainability as one of its strategic targets. This budget status update is provided in support of that objective.
The Council adopted the FY 2017-18 annual city-wide budget of $626.4 million ($217.1 million General Fund) on June 20, 2017. Administrative and Council-approved amendments to the adopted budget have increased total General Fund expenditure appropriations to $231.2 million.
Present Situation
General Fund Budget Status Update
Staff reviewed General Fund expenditures and revenues for the first six months of the current fiscal year as shown in Attachments A and B. Attachment A summarizes the City’s General Fund revenues, expenditures, and available balance by approved budget, activity as of December 31, 2017, year-end projections, and variance amounts. As of December 31, 2017, the General Fund was budgeted to end the fiscal year with an available balance of $40.6 million. Staff’s revised projections indicate revenues will end the year above the budgeted level by $2.6 million and expenditures will be approximately $3.4 million less than budget. The City does not receive General Fund tax revenues in a regular monthly pattern, so mid-year revenues are less than 50 percent of budgeted revenues. The timing of expenses is more consistent, but the General Fund does include some budgeted items that will be paid in large lump sums that cause variances when reviewed on a quarterly basis. The information below indicates our best analysis of the trends evident within the first few months of available data and projections for year-end performance compared to the budget based on this review. These projections will continue to be refined and provided to the City Council as part of the third quarter budget update, and the FY 2018-19 Proposed Budget.
Budget Adjustments
Throughout the fiscal year, Council may adjust the budget. The Approved Budget column on Attachment A includes all adjustments made through the second quarter including two adjustments processed since the First Quarter budget report. Council approved Waterfront Office Towers appropriations for lease revenues of $540,000 and operating expenses of $150,000. The second Council-approved adjustment was the use of $50,000 from the Contingency line to repair vandalized playground equipment. As of December 31, 2017, the General Fund approved expenditure budget was $231.2 million, and the projected ending available balance was $46.6 million.
Revenues
Attachment B displays staff’s analysis of revenue collections and projections through the first half of the year. Actual revenues received as of December 31, 2017, were $50.3 million and projected year-end revenues are $224.2 million. First and second quarter revenue collections for significant General Fund categories (sales tax, property tax, utility users tax, franchise fees, business license tax, hotel/motel tax, and program revenues) were all well below the 50 percent pro-rated collection rate because receipt of funds in these categories do not follow an even monthly pattern. For example, almost all the City’s property tax receipts are received from San Joaquin County in two payments in the last half of the year. Consequently, only $173,000 of the $55.6 million budgeted property tax, was received by December 31, 2017. Each major category has different collection schedules that are taken into consideration for year-end revenue projections.
Property Tax revenue projections received from our tax consultants and the San Joaquin County Assessor indicates that FY 2017-18 property tax revenues are expected to be $55.9 million, which is consistent with the 3.6 percent growth assumed in the budget. Property tax revenue growth is attributable to increasing home values and a 2.0 percent Consumer Price Index inflation rate under Proposition 13. As shown in Attachment B, the anticipated variance is less than one percent.
Sales Tax revenue received from the State in the first quarter were primarily revenues related to the prior fiscal year. Thus, the revenue received during the second quarter represents the first quarter of FY 2017-18, due to the lag time involved in receiving the tax collected. Once again, relying on the estimates from our consultants and review of current receipts, the Budget Office is projecting that the year-end sales tax collections will exceed budget by less than one percent ($610,000). The City’s incentive agreements with two fuel distributors and the impact of fuel prices on these companies is a significant driver behind the increase in the point of sale category. Measure A, which does not benefit from the incentive agreements, is projected to be slightly lower than the budgeted revenue amount of $31.0 million.
The City collects Utility Users Tax (UUT) revenues for four utility categories: Water, Electric and Gas, Cable TV, and Telecommunications. Consistent with the varying collection schedules of this revenue category, the City collected approximately 40 percent through mid-year. As can be seen in Attachment B, staff project three of the four categories will end the year above the budgeted levels. Water is expected to exceed budget by approximately 4.0 percent, Electric and Gas by approximately 0.8 percent, and Cable TV by 11.9 percent. Rate increases by utility companies caused most of the growth in water, electric and gas UUT revenues. The level of increase in Cable TV tax receipts prompted further investigation as it runs contrary to the nationwide trend of customers switching away from the large cable companies. Staff is working with its revenue consultants to identify the cause of this increase. Telecommunications UUT revenues continue to fall, but by a larger margin than anticipated in the budget. Current projections indicate this category will end the year $224,000 below budget. Overall the FY 2017-18 projections for this category are 1 percent higher than budgeted.
The City receives Franchise Tax receipts in three categories: PG&E, Cable/Video, and Waste Haulers. All three categories are projected to end the year above budget with total franchise revenues exceeding the budget by $348,000. PG&E pays its franchise fees at the end of each fiscal year so year-end projections are based on prior year receipts and electric and gas growth seen in the UUT revenue category. PG&E receipts are anticipated to exceed budget by approximately 5.2 percent, Cable/Video by 5.8 percent, and Waste Haulers by 1.3 percent.
Business License Tax revenues are running below budget through the second quarter and are estimated to end the year as much as $396,000 below budget. The majority of Business Licenses are renewed in the last four months of the year, so this category may improve before the year ends. With revenue data from the two existing medical cannabis dispensaries, additional analysis of the revenue impact from medical cannabis dispensaries is underway. With additional cannabis businesses in various phases of the approval process, timing and capacity for growth in the market will have significant impacts on tax revenues. Hotel/Motel Tax and Document Transfer Tax collections are both on track to exceed the estimate. The projected increase of 16.4 percent in Document Transfer tax is reflective of both the number of properties being sold and the value of those properties.
The Program Revenues category includes revenues from fines, licenses, service contracts with other agencies, and various City fees. On an overall basis, this category is expected to exceed budget by over $1.6 million. The increase is primarily the result of two factors. The Fire Department spent a large amount of time and resources assisting other jurisdictions in one of the worst wildland fire seasons in recent years. The department estimates that it will eventually be reimbursed approximately $1.0 million for those expenses, which will offset the department’s budget overages. The second component of the overage is higher-than-anticipated property tax revenues distributed to Stockton’s Successor Agency to the Redevelopment Agency. Most other Program Revenues estimates are running at or slightly below budget, but are subject to some volatility in the second half of the year and may be adjusted in the Third Quarter update and the Proposed 2018/19 Budget.
Interfund reimbursements consist of billings to outside agencies, indirect cost recovery, and a lump sum payment from the Municipal Utilities Department for property rentals. As of December 31, 2017, interfund reimbursements totaled $2.9 million, which is approximately 31.6 percent of the budgeted revenues. Revenues in this category are slow to come in primarily due to the nature of reimbursements. Costs incurred in the first two quarters of the fiscal year are billed for reimbursement, but actual revenues are generally received in the second half of the year. An increase of 6.2 percent is anticipated in indirect cost allocation payments based on a preliminary Full Cost Allocation Plan being finalized by the City’s consultant. Actual revenues will be based on the final report to be completed before fiscal year-end.
Expenditures
Staff reviewed the first six months of General Fund expenditure data as reported in Attachment A. Expenditure trends in most departments are running close to or just below expectations due to anticipated vacancies, with the exceptions of Fire, Public Works and the Office of Violence Prevention.
The chart below summarizes the spending levels of all departments and programs as a percent of their total budget.
As shown above, most departments are running close to or below 50 percent expenditure level anticipated for mid-year. Some of the lower spending levels are a factor of expenditures that will not occur until the last half of the year such as Debt and Administration. Other areas, such as the Police Department, continue to experience higher-than-budgeted staff vacancies. Program Support has currently expended more than 50 percent of the budget, which is due to the $8.8 million the City transferred from General Fund reserves for the purchase of the Waterfront Towers Office buildings. Program Support is not anticipated to exceed its appropriations by year end.
The FY 2017-18 Adopted Budget included a total of $8.4 million in budgeted salary savings. The Budget divided this amount into two areas: $6.1 million in the non-Marshall Plan portion of the General Fund, and $2.3 million in the Marshall Plan. Through the second quarter of the fiscal year, actual General Fund vacancy savings were approximately $465,000 below the level the Budget anticipated at mid-year. Marshall Plan savings were approximately $340,000 greater than budget. The Police Department exceeded its budgeted savings due to a higher attrition rate than anticipated. The Fire Department, on the other hand, was under its targeted savings by approximately $633,000 from the heavy workload associated with one of the worst wildland fire seasons in years. The City will recover most of those costs through reimbursements from the State of California and the federal government. Actual savings from vacancies may not align with the budgeted savings, and staff will continue to monitor the actual salary savings and report any necessary adjustments in future quarterly reports.
Below is a summary of vacancy savings results for the first half of the fiscal year.
The Police Department continues to hire sworn officers to meet its Marshall Plan goals. Although the department hired 31 new officers during the second quarter, the department lost 31 officers (ten retired, ten resigned, seven were released during probation, and four left to other agencies). The first half of the third quarter has been more successful, and the department expects to have filled 460 of its 485 authorized sworn positions by the end of the third quarter.
The Fire Department is trending to overspend its General Fund budget by over $826,000. However, that amount reflects the previously-discussed wildland fire costs that will be reimbursed by the State of California and the federal governement. After revenue and expenditure budget adjustments for the wildland fire activities, the Fire Departments is anticipated to end the year within its budgeted level.
The Public Works Department is projected to overspend its General Fund budget by as much as $881,000. Two items are driving this increase-one is personnel costs ($441,000) that will be redirected to the General Fund and reimbursed through the recently restructured Cost Allocation Plan. The City is in the process of finalizing the Cost Allocation Plan which was not available when it developed the FY 2017-18 budget. These revenues will offset the additional staff costs that are to be redirected to the General Fund. The second overspent item is approximately $440,000 for utilities due to increased water consumption in parks and an unanticipated rate increase from California Water Service Company. Staff is not proposing a budget amendment for the Public Works overage as personnel costs and water usage in the last half of the year can vary greatly from the first half.
Staff will continue to monitor both Fire and Public Works departments and will bring back for Council consideration any further budget amendments that may be needed.
The Economic Development Department is projected to end the year under budget by approximately $346,000 (9 percent). This variance reflects savings accrued from two current vacancies, thus resulting in anticipated delays in committing approximately $182,000 of the department’s Economic Incentive Program funds by year-end. Expenses as of December 31, 2017, were at 15 percent of budget reflecting the spending pattern of economic development incentive funds in the last half of the fiscal year.
The Office of Violence Prevention is projected to end the year slightly over budget by approximately $104,000 (6 percent). The annual budget assumes approximately $200,000 in grant-funded expenditures, however, the actual grants awarded are at a much lower level than planned. Staff will continue to monitor expenses and recommend any needed budget amendment by year-end.
In the Program Support for Other Funds category, most transfers are completed monthly. The Grant Match transfer is only recorded as grants with required matching funds are expended reflecting a pattern of below budget at mid-year. No net savings or additional General Fund support will be required. The remainder of the programs supported by the General Fund in this category are trending to end the year at budget, with no additional General Fund support required. The Low and Moderate Income Housing subsidy was not posted as budgeted. This report includes a technical correction required to address this transaction, which will not impact the General Fund.
The Human Resources Department budget is running below budgeted levels. Spending is expected to be below budget by $240,000 for promotional exams and polygraph and psychological exams for sworn personnel that will be delayed until the beginning of the FY 2018-19. Legal expenditures are also projected to be under budget by $107,000.
Tax Collection and Election expenses are for the most part incurred later in the year. The City typically pays property tax administration fees to San Joaquin County in January and May. Sales tax administration fees are paid quarterly with only one quarter paid through December. Election costs were budgeted for the June 2018 election and are billed to the City once a year. Sales tax administration costs are anticipated to be lower-than-budgeted based on a preliminary estimate from the County for its June 2018 election costs.
The Other Administration category holds a variety of citywide costs that are not attributable to an individual or specific group of programs or departments. By far the largest amounts are offsets to expenditures in other areas of the budget, such as indirect costs allocated to the Fire Department for reimbursement by fire districts. These costs are typically incurred later in the fiscal year.
The small amount of Labor Litigation expenses incurred at mid-year reflects the level of activity during the first two quarters. Legal expenses do not occur regularly throughout the year. The full amount of the appropriation is anticipated to be expended by year-end.
Debt Service payments by the City are not expended in any regular pattern but instead by the due dates to bondholders. Through mid-year, the City has paid a total of $854,342 for debt service. Staff project the City will expend the full appropriated amount ($4.9 million) by year-end. Any adjustment between the budgeted transfer and the final allocation based on actual costs will be made at year-end.
The City Council has authorized the use of $50,000 in Contingency Reserve funding through the first two quarters of the year. On December 4, 2017, the City Council approved the transfer of $50,000 from the General Fund Contingency Reserve to the purchase and installation of new playground equipment at American Legion Park and Weber Point Event Center. Both locations had been vandalized in separate events.
In addition to the detailed review of the General Fund expenditures and revenues described above, staff reviewed all City funds as part of the preparation of this report.
Recommended Budget Amendments
As a result of this review, staff identified five budget amendments requiring Council authorization and recommend them for approval in the Second Quarter Report:
1. $743,000 in General Fund revenues to the Fire Department needs to be added for reimbursements to date from the state and federal government for costs incurred by the department for wildland mutual aid firefighting efforts earlier in the year. Staff anticipates the final reimbursements will be received before the end of this fiscal year.
2. In FY 2017-18, the Successor Agency to the Former Redevelopment Agency of the City of Stockton began repaying loans provided by the General Fund, General Capital Fund, Community Development Block Grant (CDBG), and Parking funds. The payment methodology applied to the FY 2017-18 loan repayment schedule is based on the percentage of outstanding loans approved by the California Department of Finance. The repayment schedule is as follows: General Fund - $53,242, General Capital Fund - $868,739, CDBG - $810,521 and Parking - $63,786, for total loan repayments of $1,796,288. The Adopted Budget included the General Fund and General Capital Fund loan repayments as transfers into the General Fund since the General Capital Fund is primarily funded by the General Fund. The Department of Finance indicates the repayments need to be to the individual funds.
Staff recommends an additional transfer from the General Capital Fund to the General Fund to align the budget with how the Department of Finance wants the loans to be repaid. Per the State, the City is required to transfer 20 percent of the loan repayments to the Low and Moderate Income Housing Fund, so $173,748 of the $868,739 repayment to the General Capital Fund will go to the Low and Moderate Income Housing Fund. The remaining balance of $694,991 is recommended to be transferred to the General Fund as an offset to the General Fund FY 2017-18 subsidy to the General Capital Fund. The original approved budget in the General Fund reflected loan repayment revenue of $922,035 with a transfer amount of $184,397 to the Low and Moderate Income Housing Fund for a net General Fund impact of $737,638. The revisions outlined in this recommendation amend the General Fund Loan Repayment budget to $737,585, a $53 reduction from the adopted budget.
3. $158,950 from multiple projects in the General Capital Fund need to be transferred to cover shortfalls in two other capital projects within that fund and an improvement project in the Public Works General Fund budget. Savings of $93,950 is available from the Louis Park Pump House project for the following projects that are experiencing cost overages: $43,950 for further improvements to the Victory Park Water Connection project and $50,000 for the Police Department Parking Lot Under Freeway project. The Louis Park Pump House project demolishes and reconstructs the existing pump house and gangway that serves the irrigation system at Louis Park. Public Works re-evaluated the project and determined a full rehabilitation will be too expensive, and that dry rot repairs can be accomplished for an estimated savings of $93,950 that can be used on the two projects described above.
The second recommended budget adjustment reallocates $65,000 in project balances from three projects: Fire Station #2 Driveway project, Fire Station #2 Burn Room project, and Fire Station #6 Apparatus Bay project to provide additional funding for the Fire Station #2 Kitchen Improvement project, which has experienced increased costs.
4. The Police Department requests approval to increase the Community Corrections Partnership (CCP) Taskforce revenue budget by $405,266 to reflect actual funds received. A corresponding request to increase expenditure budgets is not proposed at this time. These funds will be maintained as a contingency against the risk of San Joaquin County AB109 funding loss for the CCP Task Force.
5. $1,793,197 needs to be transferred from the Proportionate Share Accounts (Fund 686) to reimburse several City Funds (the Measure K Maintenance Fund ($904,871), the Public Facility Fee Traffic Center Fund ($96,055), the Public Facility Traffic Signals Fund ($24,311), and the Public Facilities Streets Fund ($797,960), for various pedestrian, bicycle, traffic and roadway projects.
|
TRANSFER FUNDS TO |
PROJECT |
P-SHARE WITH INTEREST |
|
|
BRYANT/HOLMAN TRAFFIC SIGNAL |
$ 15,993 |
|
|
WAKEMAN/HOLMAN TRAFFIC SIGNAL |
$ 18,937 |
|
|
MARCH LN/FRED RUSSO DR TRAFFIC SIGNAL |
$ 5,300 |
|
|
CHARTER WY/TILLIE LEWIS DR TRAFFIC SIGNAL |
$ 53,246 |
|
|
MARANATHA BRIDGE CROSSING EBMUD |
$ 3,741 |
|
MEASURE K MAINTENANCE |
MARANATHA-HAMMER TO MORADA TRAFFIC SIGNAL |
$ 225,550 |
|
(FUND 082) |
WINDFLOWER/HOLMAN TRAFFIC SIGNAL |
$ 134,787 |
|
|
HAMMER/MARANATHA TRAFFIC SIGNAL |
$ 120,849 |
|
|
THORNTON RD/DAVIS RD INTERSECTION IMPROVEMENTS |
$ 2,690 |
|
|
CAROLYN WESTON BLVD/EWS WOODS BLVD TRAFFIC SIGNAL |
|
|
MEASURE K MAINTENANCE |
CAROLYN WESTON BLVD/MANTHEY RD TRAFFIC SIGNAL |
|
|
(FUND 082) |
CAROLYN WESTON BLVD/WILLIAM MOSS BLVD TRAFFIC SIGNAL |
$ 323,778 |
|
|
WILLIAM MOSS BLVD/MCDOUGALD BLVD TRAFFIC SIGNAL |
|
|
|
WILLIAM MOSS BLVD/EWS WOODS BLVD TRAFFIC SIGNAL |
|
|
PUBLIC |
WILSON WY/SANGUINETTI LN TRAFFIC SIGNAL |
$ 69,002 |
|
FACILITY FEES TRAFFIC |
MARIPOSA RD/WEST SR99 FRONTAGE RD INTERSECTION IMPROVEMENTS |
|
|
SIGNAL (FUND |
EIGHTH ST/FRESNO AVE TRAFFIC SIGNAL |
$ 27,053 |
|
900) |
EIGHTH ST/MANTHEY RD TRAFFIC SIGNAL |
|
|
PUBLIC FACILITY FEES TRAFFIC |
DAVIS RD/WAGNER HEIGHTS RD TRAFFIC SIGNAL |
$ 24,311 |
|
SIGNAL (FUND 901) |
DAVIS RD/THORNTON RD TRAFFIC SIGNAL |
|
|
|
CAROLYN WESTON BLVD/MCDOUGALD BLVD TRAFFIC SIGNAL |
|
|
|
WILLIAM MOSS BLVD/MANTHEY RD TRAFFIC SIGNAL |
|
|
PUBLIC FACILITY |
WOLFE RD (FRENCH CAMP RD)/MANTHEY RD TRAFFIC SIGNAL |
$ 712,305 |
|
FEES STREETS |
FRENCH CAMP RD/MANTHEY RD TRAFFIC SIGNAL |
|
|
(FUND 910) |
EWS WOODS BLVD/HENRY LONG BLVD TRAFFIC SIGNAL |
|
|
|
EWS WOODS BLVD/FRENCH CAMP RD TRAFFIC SIGNAL |
|
|
|
HOLMAN-MCALLEN TO MARCH ST WIDENING |
$ 55,655 |
|
Total |
|
$ 1,793,197 |
FINANCIAL SUMMARY
This report provides an analysis of FY 2017-18 General Fund second quarter results. The review indicates revenues are on track to achieve budget projections and the City is on track to achieve salary savings slightly greater than the budget. Staff also reviewed other significant City funds and did not find any significant issues other than the recommended amendments described above and outlined below.
Staff recommends the following budget amendments:
1. Increase revenue and expenditure appropriations for Fire Department/General Fund to reflect Wildland Mutual Aid costs and reimbursements
010-2620-331 Wildland Mutual Aid Revenue/Federal $480,000
010-2620-334 Wildland Mutual Aid Revenue/State $263,000
010-2620-530 Fire Department Suppression Expenses $743,000
2. Amend transfers budgeted for the Successor Agency loan repayments to split payment between the General Fund and the General Capital Fund:
• Reduce General Fund Loan Repayment revenue budget of $922,035 by $868,793 to $53,242.
• Increase the revenue budget in the General Capital Fund by $868,739.
• Reduce General Fund transfer to Low and Moderate Income Housing Fund by $173,749 to $10,648.
• Increase General Capital Fund transfer to the Low and Moderate Income Housing Fund by $173,749.
• Transfer $694,991 from the General Capital Fund to the General Fund.
3. Transfer the ending project balances of approximately $158,950 in the General Capital Fund from multiple capital projects to the Police Parking Lot Under Freeway project, Fire Station #2 Kitchen Improvement project, and to the General Fund for the Victory Park Water Connection project.
Transfer from:
301-3020-640/PW1623 Louis Park Pump House repairs $93,950
301-3020-640/PW1617 Fire Station #2 Driveway $35,000
301-3020-640/PW1503 Fire Station #2 Burn Room $15,000
301-3020-640/PW1511 Fire Station #6 Apparatus Bay $15,000
$158,950
Transfer to:
301-3020-640/PW1619 PD Parking Lot Under Freeway $50,000
301-3020-640/PW1618 Fire Station #2 Kitchen Improvements $65,000
010-3070-590 Gen. Fund Public Works Parks $43,950
$158,950
4. Police Department increase the Community Corrections Partnership (CCP) Taskforce revenue.
025-6478-334 CCP Taskforce Revenue $405,266
5. Reimburse the Measure K Fund (082), the Public Facilities Fee Traffic Signals Fund (900), the Public Facilities Fee Traffic Zone 1 Fund (901), and the Public Facilities Fees Streets Fund (910) for the projects listed in the table above from the Proportionate Share account balances in the Area of Benefits 686 Fund:
From: 686 Area of Benefits Fund $1,793,197
To:
082-0000-371 Measure K Maintenance $ 904,871
900-0000-371 PFF Traffic Signals $ 96,055
901-0000-371 PFF Traffic Zone 1 $ 24,311
910-0000-371 PFF Street Improve $ 797,960
TOTAL $1,793,197
Staff will continue to monitor trends and potential budget variances and will return to Council with future recommendations for changes where appropriate.
Attachment A - FY 2017-18 Second Quarter Budget Update - General Fund
Attachment B - FY 2017-18 Revenue Projections - General Fund