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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: DECEMBER 3, 2019 TITLE: RECEIVE AND FILE FISCAL YEAR 2018-2019 GENERAL FUND PRELIMINARY FISCAL YEAR END RESULTS AND FISCAL YEAR 2019-2020 GENERAL FUND — FIRST QUARTER UPDATE {STRATEGIC PLAN NO. 4, 11 /s/Kristine Ridge CITY MANAGER CLERK OF COUNCIL USE ONLY: _••e• W ❑ As Recommended ❑ As Amended ❑ Ordinance on 11' Reading ❑ Ordinance on 2nd Reading ❑ Implementing Resolution ❑ Set Public Hearing For Ifiel0 oil 01.11111q oi[e] FILE NUMBER RECOMMENDED ACTION Receive and file Fiscal Year 2018-2019 General Fund preliminary fiscal year end results and Fiscal Year 2019-2020 General Fund First Quarter Update. DISCUSSION The First Quarter Update includes preliminary year-end results for Fiscal Year (FY) 2018-19, and General Fund revenues and expenditures for the First Quarter of FY 2019-20 (July 2019 through September 2019). The vacancy report for funded positions is as of September 30, 2019. Below is a summary of FY 2018-19 preliminary results and highlights of both key revenues and expenditures for City Departments for the first quarter of FY 2019-20. Fiscal Year 2018-19 Preliminary Results The City's Major General Fund Revenues account for nearly 70% of the total general fund revenues received, as shown in the table below. Major General Fund Revenues Revenue Source FY 18-19 Amended Budget FY 18-19 Actuals % Received Sales Tax $51,280,000 $ 51,321,860 100.1% Sales Tax (Measure X) $15,000,000 $ 13,636,350 90.9% Property Tax $36,176,616 $ 37,309,791 103.1% Property Tax In -Lieu of VLF $32,643,085 $ 32,897,695 100.8% Utility Users' Tax $23,100,000 $ 22,655,737 98.1% Business License $12,800,000 $ 13,115,518 102.5% Hotel Visitors Tax $9,300,000 $ 9,414,661 101.2% 19C-1