City of La Porte Annual Budget 1993-1994

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I I I 1 I I 1 I I I I I I I 'I I I I I \. FISCAL YEAR 1992-93 ESTIMATED RESULTS The estimated results for fiscal year 1992-93 General Fund revenues are: Comparison of Projected Versus Estimated Revenues for Fiscal Year 1992-93 Over Projected Estimated (Under) Percent 1992-93 1992-93 Budget Variance Taxes $ 11,401,500 11,190,929 (210,571) -1. 9% Franchise Fees 1,168,750 1,143,330 (25,420) -2.2% Licenses & Permits 90,300 196,095 105,795 117 .0% Charges for Services 1,065,600 981,415 (84,185) -7.9% Fines & Forfeitures 229,500 239,800 10,300 4.5% Employee Health Svcs l,l09,500 1,107,026 (2,474) -.2% Parks & Recreation 324,870 309,370 (15,500) -4.8% Other Revenue 936.997 l. 003 . 797 66.800 7.1% Total General Fund $ 16,327,017 16,171,762 (155,255) -1.0% The difference between the projection and the revised estimate is -1.0%. The reason for the variance was caused by many factors; including: . In the taxes category, our payments in lieu of taxes were $162,000 greater than originally projected. This positive increase was caused by changes in property values at a rate that was higher than projected. . Also in the taxes category, our sales taxes were down by $310,000. This projected short fall was caused by a projection based on bad data. In prior fiscal years, the City had received sales tax revenues that should have been received by another city. The mistake was found after the budget for the 1992-93 fiscal year had been prepared. The funds were paid back in the current fiscal year. . There was tremendous activity by builders in the area. Several home builders returned to the area and started construction in subdivisions that had been stagnant since the early 80's. This caused an increase in the licenses & permits category. . In the other revenue category, our interest income was greater than ,originally projected and should come in over budget by $60,000. 1-13