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F Y 2008 F inanc ial U pdate F Y 2008 Mid-Ye ar Budge t Adjustme nt F ive -Ye ar F inanc ial F o re c ast Ballo t o f City Se rvic e s Presented by Peter Zanoni, Director Office of Management & Budget April 30, 2008 City Council

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F Y 2008 F inanc ial U pdate F Y 2008 Mid-Ye ar Budge t Adjustme nt F ive -Ye ar F inanc ial F

  • re c ast

Ballo t o f City Se rvic e s

Presented by Peter Zanoni, Director

Office of Management & Budget April 30, 2008 City Council “B” Session

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Six Plus Six F inanc ial Re por t

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Overview

  • 6 + 6 Financial Report

– 3 + 9 Financial Report Recap – General Fund

  • Revenues
  • Expenditures

– Other Funds

  • Environmental Services Fund
  • Development Services Fund
  • Hotel Occupancy Tax Funds
  • Airport Operating Fund
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3+9 Financial Report Recap

  • Three Plus Nine Financial Report presented to

City Council on February 13, 2008

  • Report included FY 2008 First Quarter actual

revenue and expenditure amounts and projected amounts for remaining three quarters of FY 2008

  • Report indicated General Fund revenues and

expenditures in First Quarter were being received and expended as planned

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6+6 Financial Report

  • Six Plus Six Report continuation of reporting

FY 2008 financial status to City Council

  • Includes actual revenue and expenditure

amounts compared to planned amounts through the Second Quarter of FY 2008

  • Projects revenues and expenditures for

remaining two quarters of FY 2008

  • Based on information provided in Six Plus Six

Report, mid-year FY 2008 Budget Adjustment Ordinance scheduled for consideration

– May 1 City Council “A” Session

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FY 2008 Financial Conditions Summary (General Fund)

  • Resources

– With some exceptions, revenues are being received at planned amounts – Overall, no significant extra-ordinary collections to report

  • Expenditures

– Except for Police and Fire, projected planned amounts for all departments are within budget – Police and Fire are projected to exceed their appropriations level by a combined total of $1.7M

  • Staff will continue to closely monitor revenues

and expenditures for All Funds in the third and fourth quarter

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$491.16 $506.32 $826.88 $841.14 $- $150.00 $300.00 $450.00 $600.00 $750.00 $900.00

Revenues

General Fund Revenues – All Sources ($ in Millions)

FY 2008 Estimate $14.26M over FY 2008 Budget

14,255,883 841,141,660 826,885,777 15,161,702 506,318,577 491,156,875

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

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$95.39 $96.53 $196.24 $197.38 $- $50.00 $100.00 $150.00 $200.00 $250.00

Revenues

Sales Tax Revenues ($ in Millions)

FY 2008 Estimate $1.14M over FY 2008 Budget

1,138,994 197,381,527 196,242,533 1,138,994 96,532,129 95,393,135

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

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FY 2008 Sales Tax Monthly Collection ($ in Millions)

$1.14 0.64 0.14 (0.32) (0.35) 1.22 $(0.19) Variance 104.61% 14.26 13.63 March 101.2% $96.53 $95.39 Total 98.92% $17.30 $17.48 October 108.81% 15.10 13.88 November 97.68% 14.60 14.95 December 98.53% 21.26 21.58 January 101.01% 14.01 13.87 February Posted Collected Amount Amount Percent Actual Planned Month

  • Three (3) payments over planned amounts
  • Three (3) payments under planned amounts
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$204.05 $204.17 $226.10 $226.78 $- $50.00 $100.00 $150.00 $200.00 $250.00

Revenues

Property Tax Revenue ($ in Millions)

687,219 226,782,866 226,095,647 115,078 204,167,839 204,052,761

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

FY 2008 Estimate $687K over FY 2008 Budget

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Bexar County City of San Antonio School District Bexar County University Health System College District River Authority

Property Tax Revenue

Over 75% of total Tax Bill for schools & County with less than ¼ for City

Sample Property Tax Statement

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$257.86 $103.83 $117.19 $244.50 $- $100.00 $200.00 $300.00

Revenues

CPS Revenues ($ in Millions)

13,361,000 257,864,000 244,503,000 13,360,758 117,190,758 103,830,000

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

FY 2008 Estimate $13.4M over FY 2008 Budget

(“Additional CPS Transfer” revenue not shown in amounts)

■2Q Planned ■2Q Actual ■Budget ■Estimate

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$420.98 $420.15 $853.97 $853.10 $- $150.00 $300.00 $450.00 $600.00 $750.00 $900.00

Expenditures

General Fund Expenditures ($ in Millions)

FY 2008 Estimate $869K under FY 2008 Budget

(Includes Mid-Year Budget Adjustments)

868,786 853,103,404 853,972,191 827,951 420,147,347 420,975,298

Expenditures Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

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Development & Planning Services Fund

  • Enterprise Fund established in FY 2007

– Development Services Department – Planning & Community Development Department – Fire Prevention (New Commercial & Annual Inspection)

  • Development revenues support development

services

  • Enhanced accountability by appropriately aligning

revenue with expenses and adjusting to economic trends

  • Greater trust by stakeholders and improved

perception of the departments

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  • 1st Quarter Activity

– Fund experienced 10% decrease in actual revenue collected compared to 1st Quarter Adopted Budget plan amount – 53% decrease in new residential permitting activity compared to plan amount

  • Commercial permitting consistent with planned

levels – 3+9 Financial Report projected negative ending balance within fund that was originally estimated in FY 2008 Budget to be positive at year end

Development & Planning Services Fund

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  • Deficit Reduction Plan that would eliminate

shortfall by end of FY 2009 presented to Council during 3+9 Financial Report

  • Plan freezes 36 vacant positions for remainder of

FY 2008 and FY 2009

  • Deficit Reduction Plan not projected to impact

current service levels

  • Stakeholders indicate a preference for reduction

in positions over additional fee increases

Development & Planning Services Fund

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Development & Planning Services Fund

Development Services - Building Permits (New & Existing Commercial/New Residential)

3,097 5,093 3,426 2,810 1,823 1,261

  • 1,000

2,000 3,000 4,000 5,000 6,000

FY 2008 Budget FY 2008 Revised Projections FY 2008 Actual (Oct-Mar)

Commercial Residential

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Development & Planning Services Fund Performance Indicators

97% 95% Building Code Inspections Performed as Scheduled 19 Days 18 Days Complex Commercial Plan Review (Initial) 2 Days 3 Days Residential Building Plan Review (Initial) 4 Days 10 Days Zoning Verification Letters 23 Days 35 Days Longest Review - Development Services 41 Days 35 Days Longest Review - All Agencies Major Plat Technical Review 4% 5% Telephone Abandonment Rate

Oct 07 - Mar 08 Performance

Goal Activity

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$14.31 $14.51 $30.15 $30.15 $- $10.00 $20.00 $30.00

Expenditures

Development & Planning Services Fund ($ in Millions)

30,150,089 30,150,089 200,492 14,510,141 14,309,649

Revenues Variance Estimate

  • Rev. Budget

Variance Amount Amount FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

Revenues

■2Q Planned ■2Q Actual ■Rev. Bud. ■Estimate

  • FY 2008 Revised Budget figures shown at Levels reflecting implementation
  • f Deficit Reduction Plan
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$13.97 $13.70 $28.28 $28.21 $- $10.00 $20.00 $30.00

Expenditures

Development & Planning Services Fund ($ in Millions)

67,834 28,213,426 28,281,260 271,227 13,703,107 13,974,334

Expenditures Variance Estimate

  • Rev. Budget

Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

Expenditures

■2Q Planned ■2Q Actual ■Rev. Bud. ■Estimate

  • FY 2008 Revised Budget figures shown at Levels reflecting implementation
  • f Deficit Reduction Plan
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Hotel Occupancy Tax Related Funds

  • Resources

– Hotel Occupancy Tax Collections – Convention Center / Alamodome Revenues

  • Operations

– Convention Center & Alamodome – Convention & Visitors Bureau – Cultural Affairs – International Affairs – Arts & Cultural Programming

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Hotel Occupancy Tax

FY 2008 Tax Distribution

CVB $19.10 M History & Preservation $7.97 M Arts $7.97 M Other Tourist Expenses $2.68 M CSEF $15.40 M

15% 15% 36% 29% 5%

70% Tourism History & Preservation 15% Arts 15% Hosting Obligations/ Other Convention Sports & Entertainment Facilities Convention & Visitors Bureau

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Convention Center, 2% AT&T Center, 1.75% State, 6% City, 7%

Hotel Occupancy Tax Rate

Total Rate: 16.75%

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$54.58 $24.42 $25.18 $54.24 $- $25.00 $50.00 $75.00

Hotel Occupancy Tax Fund ($ in Millions)

341,992 54,577,849 54,235,857 761,577 25,182,380 24,420,804

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

Revenues—HOT and Interest

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$17.70 $8.36 $9.23 $16.72 $- $3.00 $6.00 $9.00 $12.00 $15.00 $18.00

Convention Center / Alamodome ($ in Millions)

979,082 17,703,404 16,724,322 872,446 9,234,607 8,362,161

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

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$62.48 $33.10 $33.86 $61.20 $- $25.00 $50.00 $75.00

Expenditures

Airport Operating Fund ($ in Millions)

1,272,714 62,476,045 61,203,331 754,670 33,856,335 33,101,666

Revenues Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

Revenues

FY 2008 Estimate $1.3M over FY 2008 Budget

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Concession Contracts 16.5M 27% Airline Ramp/Hanger Rental & Cargo Fees 17.7M 29% Other 2.3M 4% Parking Fees 17.3 M 28% Landing Fees 7.4M 12%

Airport Operating Fund

Revenue Summary ($61.2 Million)

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$28.12 $28.07 $59.91 $59.77 $- $25.00 $50.00 $75.00

Expenditures

Airport Operating Fund ($ in Millions)

138,924 59,768,531 59,907,455 50,791 28,072,826 28,123,617

Expenditures Variance Estimate Budget Variance Amount Amount Favorable FY 2008 FY 2008 Favorable 2Q-Actual 2Q-Planned

■2Q Planned ■2Q Actual ■Budget ■Estimate

Expenditures

FY 2008 Estimate $138K under FY 2008 Budget

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F Y 2008 F inanc ial U pdate F Y 2008 Mid-Ye ar Budge t Adjustme nt F ive -Ye ar F inanc ial F

  • re c ast

Ballo t o f City Se rvic e s

Presented by Peter Zanoni, Director

Office of Management & Budget April 30, 2008 City Council “B” Session