City of La Porte Annual Budget 1991-1992

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I I I I I I I I I I I I I I I I I I I FISCAL YEAR 1990-91 ESTIMATED RESULTS The estimated results for fiscal year 1990-91 General Fund revenues are: Comparison of Projected Versus Estimated Revenues for Fiscal Year 1990-91 Over Projected Estimated (Under) Percent 1990-91 1990-91 Budget Variance Taxes 9,413,923 9,350,412 (63,511) (.7) Franchise Fees 882,000 1,002,694 120,694 13.7 Licenses & Permits 83,120 52,069 (31,051) (37.3) Charges for Services 914,200 938,265 24,065 2.6 Fines & Forfeitures 234,695 262,941 28,246 12.0 Parks & Recreation 150,000 145,000 (5,000) (3.3) Other Revenue 947.900 892.600 (55.300) (5.8) Total General Fund 12,625,838 12,643,981 18,143 .2 While the overall variance between the Budget Projection and the current estimate is less than two tenths of a percent, there are several major variances in individual categories. In the taxes category, our revenues derived from ad valorem taxation is expected to be down by $220,500. This negative variance resulted from a mistake made by the Harris County Appraisal District in their valuation of our industrial properties. As a partial offset for this, we were fortunate that our sales taxes are expected to come in $150,000 over the budget projection. The positive variance in the franchise category is primarily attributed to the electrical franchise being $106,000 more than budgeted. The license and permits category is expected to be much less that originally forecasted and the reason is two-fold. First, there was a major building project in fiscal year 89-90 which brought these revenues to a level they had never reached before. It was expected that another major project would keep this revenue source high again in fiscal year 1990-91. That project, while still appears to be feasible, has not materialized. Second, there has been a change in the method of collecting electrical license revenues. We now collect electrical licenses in 'two year intervals rather than one. Our municipal court fines are greater than projected and account for the positive variance in the Fines and Forfeitures category. Finally, our other revenue is down and is directly attributed to the decrease in interest income caused by lower than expected interest rates. 1-13