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From YouTube: San Bruno City Council Meeting February 12, 2013 10a. Quarterly Financial Update Report
Description
San Bruno City Council Meeting February 12, 2013
10a. Quarterly Financial Update Report
A
B
Evening,
honorable
mayor
members
of
the
City
Council
I'm
here
tonight
to
present
to
you
the
quarterly
financial
update
report
as
of
December
31st
2012,
as
well
as
a
mid-year
proposed
budget
amendment,
the
second
quarter,
financial
update,
you
will
typically
see
a
new
as
opposed
to
the
first
quarter
financial
update.
You
will
see
revenue
starting
to
catch
up
as
far
as
timing.
Many
of
our
revenues
are
still
timing
about
a
month
behind,
but
you
will
see
that
we
are
starting
to
near
that.
B
Fifty
percent
point
sort
of
excuse
me
moving
right
into
the
revenues
I'd
like
to
highlight
what
I
think
is
positive
news
that
I
delivered
with
the
first
quarter
financial
update
with
starting
with
sales
tax.
We
are
continuing
to
see
an
increase
in
sales
tax,
I
apologize,
it's
not
very
clear
up
there,
but
less
and
lard
next
time,
I'll
use
white,
so
sales
tax,
you
might
recall
we
increase
the
budget
for
sales
tax
by
$100,000
this
year
and
those
the
revenues
so
far
year
today
are
tracking
slightly
above
budget.
B
So
we
do
anticipate
that
sales
tax
will
not
only
meet
budget
but
will
exceed.
The
current
budget
is
2.7
million
dollars
at
the
end
of
the
year
property
tax.
We
are
currently
at
51-percent.
This
is
typical
for
this
time
of
year,
we
get
our
first
installment
of
property
tax
in
December,
so
that
is
what's
reflected
here.
What
is
not
reflected
in
this
property
tax
number
is
the
additional
property
tax
that
the
city
now
receives
as
a
result
of
the
elimination
of
redevelopment
that
money
comes
at
during
in
a
separate
distribution.
B
The
first
installment
was
received
on
january
second,
and
the
next
installment
will
be
received
june
first,
so
that
that
number
is
not
reflected
here.
However,
because
based
on
information
that
we've
received
in
the
amount
we've
received,
we
do
anticipate
that
property
tax
overall
will
exceed
the
budget
at
the
end
of
the
year.
As
a
result
of
this
new
money
coming
in
from
the
loss
of
redevelopment,
vlf
is
tracking
on
course,
as
we
anticipated
charges
for
services,
you
will
see
that
it
is
comparison
to
last
year.
B
There
is
a
significant
decline,
and
the
reason
for
that
is
this
is
the
account
where
we
see
the
allocations
that
we
used
to
recover
from
the
Redevelopment
Agency.
For
general
administration,
salaries
and
so
forth,
that
was
a
revenue
coming
into
the
general
fund.
That
is
why
the
budget
was
dropped.
This
year
was
lost
that
redevelopment
and
that's
why
that
amount
is
less
dollar
for
dollar
last
year.
Another
positive
trend
that
we're
seeing
is
continuing
growth
in
the
t,
OT
hotel,
motel
occupancy
tax.
B
This
amount
only
represents
that
you
see
here
represents
five
months,
not
six
months,
because
we
do
tend
to
track
a
month
behind.
So
at
this
point
in
time
we
are
trending
above
budget,
and
we
do
anticipate
that
we
will
exceed
the
budget
at
your
end
in
that
category
and
just
finishing
up
on
the
revenue
side,
business
taxes
doing
strong
as
well.
We
typically
see
that
those
are
front-loaded-
the
first
half
of
the
year,
because
that's
what
people
renew
their
business
license,
so
the
amounts
that
we're
seeing
there
and
the
eighty-two
percent
is
typical.
B
B
On
the
expenditure
side,
you
will
see
that
we
are
tracking
slightly
above
budget,
and
that
is
the
result
of
a
number
of
different
things.
Primarily,
you
might
recall
that
when
we
adopted
the
current
year
budget,
we
included
the
continuation
of
the
negotiated
furlough
and
the
due
to
the
fact
that
we
had
the
expiration
of
all
six
of
our
bargaining
unit
agreements
on
june
thirtieth.
We
did
not
include
the
elimination
of
that
furlough.
B
We
have
since
settled
with
four
out
of
the
six
bargaining
units
the
furlough
was
eliminated
and
therefore
we're
seeing
that
actual
expenditures
reflecting
the
elimination
of
that
furlough.
But
the
budget
is
not
yet
reflecting
that.
In
addition,
we
had
pers
increases
which
are
primarily
driven
by
safety.
Pers
increases,
so
you
will
see
slightly
higher
trends
in
the
safety
departments
as
a
result
of
those
pervs
increases.
We
also
have
less
vacant
positions
this
year
than
we
had
last
year.
B
We
are
tracking
a
higher
dollar
wise
because,
due
to
the
fact
that
we
don't
have
the
vacant
positions
and
the
salary
savings
that
we
had
last
year
and
finally,
as
you,
if
you
look
specifically
at
a
certain
department
like
planning
and
building,
you
will
see
that
the
expenditures
year-to-date
are
higher
than
they
were
last
year
and
again,
the
recurring
theme.
This
is
another
impact
as
a
resulting
from
the
loss
of
redevelopment.
Last
year.
At
this
point,
redevelopment
was
still
in
existence.
B
We
were
still
able
to
allocate
salaries
of
staff
that
were
in
the
planning
and
building
departments
to
redevelopment.
That
is
no
longer
the
case
we
budgeted
for
that
in
the
general
fund,
and
that's
why
you
see
higher
expenditures
there.
So
overall
bottom
line,
total
general
fund
expenditures
were
at
fifty
two
percent.
However,
I
will
add
that
there's
a
proposed
budget
amendment
to
increase
the
budget
to
account
for
the
elimination
of
the
furlough,
along
with
some
of
the
benefit
increases
that
were
agreed
to
as
part
of
the
negotiated
agreements.
B
If
that
budget
amendment
is
adopted,
the
total
expenditures
will
be
at
fifty
percent
of
budget,
so
they
will
be
tracking.
Just
on
what
we
thought
they
should
be
moving
to
the
enterprise
funds.
We
see
that
the
expenditure
the
revenues
in
cable
are
tracking
slightly
below,
but
likewise
or
the
expenditures.
So
in
cable
we
are
still
seeing
that
revenues
are
exceeding
the
expenditures
in
waste,
water
and
water.
You
are
seeing
the
revenues
tracking,
along
with
what
we
proposed.
What
we
expected
to
see
is
part
of
the
rate
increase.
B
So
moving
into
the
proposed
mid-year
budget
amendment
on
the
revenue
side,
based
on
the
information
that
we
have
at
this
point,
the
proposed
budget
amendment
is
to
increase
property
tax
as
a
result
of
the
loss
of
redevelopment.
The
additional
property
tax
that
we
believe
we
will
receive
this
year
is
about
four
hundred
thousand
dollars
at
this
point
in
time
sales
tax
is
trending
above,
and
we
anticipate
that
it
will
exceed
the
budget
by
one
hundred
fifty
thousand
dollars.
B
Likewise,
transia
occupancy
tax,
we
are
proposing
to
increase
the
budget,
a
hundred
thousand
dollars
for
a
total
increase
in
general
fund
revenues
of
six
hundred
fifty
thousand
dollars.
The
next
amendment
is
a
to
the
one-time
fund
for
the
recoveries
that
we
discussed.
At
the
last
meeting,
we
were
receiving
money
one-time
money
resulting
from
the
loss
of
redevelopment.
This
is
the
former
balances
of
the
redevelopment
and
low
and
moderate
income
housing
funds
that
the
city
is
receiving.
We
estimated
about
457
thousand
dollars
which
has
been
earmarked
for
the
archway
construction.
B
So
this
is
a
budget
amendment
for
those
revenues
and,
finally,
an
increase
in
the
self-insurance
fund
due
to
a
increase
in
the
premium
for
our
liability
coverage,
which
I
discussed
I
believe
at
the
first
quarter,
financial
update
report
that
amount
to
increase
this
year,
they
premium
increase
151,000
and
therefore
we
want
to
increase
the
allocation
into
that
fund
to
cover
that
additional
expense
on
the
expenditure
side.
Most
of
these
men
proposed
amendments
are
a
reflection
of
the
negotiated
agreements
with
the
four
bargaining
units
that
have
settled.
B
At
this
point,
the
total
increase
to
reflect
the
elimination
of
the
furlough,
the
increase
in
medical
insurance
costs
increase
in
management
lead
by
out
that
was
offered
to
the
mid
management
management
bargaining
units,
as
well
as
the
professional
development
increased
for
management
employees
for
the
general
fund.
Total
is
about
six
hundred
fifty
two
thousand
dollar
and
for
all
other
funds,
it's
about
five
hundred
and
seventy
thousand
dollars.
B
In
addition
to
those
increases,
the
budget
amendment
includes
a
budget
to
establish
a
budget
for
the
purchase
of
the
hotel
property,
as
well
as
some
of
the
professional
services
costs
associated
with
that.
In
the
amount
of
1.4
16
million
and
as
I
earlier
mentioned
on
the
revenue
side
to
increase
the
transfers
in
also
increase
the
expense
for
the
self
insurance
for
the
premium
increase
of
151
thousand
dollars.
And
finally,
the
last
item
is
the
item
for
the
cost
for
the
construction
of
the
archway
of
six
hundred
four
thousand
dollars.
So
that
concludes
my
presentation.