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• <br /> <br />Ad Valorem Taxes -Property taxes increased $355,803 (5%) compared to last year due to an <br />increase in residential value and collection of taxes. As of January 31St, we received 82% of <br />budgeted revenue. <br />Industrial Payments - As of January 31St, we received 94% of budgeted revenue and a decrease of <br />$441 K (6%) from the prior year. This year's revenue decrease is directly attributed to lower property <br />values resulting from the aging of the industrial district plants. <br />Sales Tax -Sales Tax revenue to date was 30% of budget and $6K less than the prior year due to <br />economic downturn. <br />Franchise Fees -The City received approximately $18K (3%) less in Franchise Fees from the prior <br />year. Revenue received was 31 % of budget. <br />Fees for Services -Revenue of $864K for services provided was 29% of budget and $193K (29%) <br />higher than last year. The most significant increases were attributable to street and alley closing, tax <br />billing fees, and mowing and demolition fees. <br />Expenditures <br />Total expenditures for the General fund were $7.2M, which was 30% of budget and approximately <br />$585K (7.5%) lower than the prior year. Overall, expenditures will increase because depreciation <br />expense is not recorded until year end and therefore not included in the interim financial statements. <br />ENTERPRISE (PROPRIETARI~ FUNDS <br />Revenue <br />Total revenue for all Proprietary funds of $2.4M for the year represents 30% of budget and was <br />approximately $9K (0.4%) lower than last year. Utility fund revenues were down $38K (2%) from the <br />prior year, the La Porte Area Water Authority revenue is down $12K (5%) compared to last year, Golf <br />Course revenue was up $28K (8%) from last year, Sylvan Beach revenue was up $10K (19%) and <br />the Airport revenue was up $3K (33%) from the prior year. Significant revenue fluctuations are <br />explained below. <br />Enterprise Funds Revenue <br />FY 2004 Actual vs Budget <br />a nnn nnn <br /> ~~ <br /> ~ ~' ~~ "t f > r'~/F s' ~{ <br />~ <br /> a <br />~ i N ~ t ..=. ~~ ~ <br />A ri G t <br /> <br /> ~ <br /> " <br />~ F <br />, <br />~~~~ r ~ f ~ J i A 1 <br />G <br />000 <br />000 . <br />«. <br />a '` ! . <br />F', `' ~ ~ ,~ <br />, <br />~! <br />, <br />, <br />, ~ <br />1 tT~ <br />= L 1 4 ..fl <br />h+~~ ~ <br />.,'~ j ` K <br />~ <br />~ <br />~ <br />~ <br />Q00 <br />~~~ F~ <br />t ~ - :` J ^l <br />r , x <br />r y.. <br />r;L <br />, <br />, <br /> <br />(,N f <br />k3. HY f 1S <br />5 t <br />1 <br />000 <br />000 <br />' ~~ ` } <br />6 <br />~` <br />~ r ' `'~ "~, ~ _ '~ <br />. <br />, , <br /> r . y c ~ ~ v ? t g ~ - <br />'' ~ t <br />ks <br /> ,. <br />~ ' 4. <br />c <br />r <br />t~ ~ ~ ~ ~ i <br />1 <br />000 <br />000 ' ;` <br />, <br />, n , 1'~ <br /> ,, <br />a: ~ ! <br /> <br /> Utility Fund LPAWA Golf Course Sylvan Beach Airport Fund <br />DActual 1,785,888 217,680 372,331 60,537 10,909 <br />®Budget 5,801,746 1,071,024 1,183,342 171,420 32,728 <br />Page 2 <br />