JOINT ITEM Fiscal 2008 09 Mid Year Budget Report and Adoption of Proposed Budget Amendments MEETING DATE: 02/09/09 AGENDA ITEM: Fiscal 2008 09 Mid Year Budget Report and Adoption of Proposed Budget Amendments ATTACHMENTS 1. Fiscal 2008 09 City Mid Year Financial Monitoring Report 2. Fiscal 2008 09 RDA Mid Year Financial Monitoring Report 3. Culver City Sales Tax Update Newsletter Pages 1 18 19 31 32 33 FINANCIAL FINANCIAL MONITORING MONITORING REPORT REPORT Mid Year 2008 09 YEAR TO DATE PAGE PERFORMANCE AT A GLANCE GENERAL FUND General Fund Combined Revenues & Expenditures General Fund Expenditures General Fund Department Analysis General Fund Revenues Other Revenues Sales Tax Business License Tax Utility Users Tax Property Tax Revenue Charges for Services Transient Occupancy Tax One time Revenue Receipts and GF Reserve % MAIN ENTERPRISE FUNDS Refuse Fund Transit Operations Fund Sewer Operating Fund MAIN INTERNAL SERVICE FUNDS Equipment Maint. & Fleet Svcs. Self Insurance Fund CAPITAL IMPROVEMENT FUNDS OTHER FUNDS BELOW BUDGET OR POSITIVE 4% compared with prior year for revenues or below expenditure target NORMAL WARNING NEGATIVE Positive variance or negative variance 2% compared prior year Negative variance of 2 4% compared with prior year. Negative variance of 4% compared with prior year. CURRENT MONTH NORMAL POSITIVE/NORMAL POSITIVE POSITIVE/NORMAL NEGATIVE POSITIVE POSITIVE NORMAL POSITIVE NORMAL NORMAL NORMAL NORMAL NORMAL NEGATIVE NORMAL POSITIVE WARNING POSITIVE POSITIVE EXPENDITURE / REVENUE EXPENDITURE / REVENUE BELOW/NORMAL BELOW/NEGATIVE NORMAL/NORMAL EXPENDITURE / REVENUE EXPENDITURE / REVENUE NORMAL/NORMAL BELOW/NORMAL BELOW/NORMAL NORMAL/NEGATIVE NORMAL/NEGATIVE NORMAL/NORMAL NORMAL/NORMAL Page 3 Page 3 Page 4 Page 5 Page 5 Page 6 Page 6 Pages 7 9 Page 9 Page 10 Page 11 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 ECONOMIC INDICATORS ECONOMY Nat l Consumer Price Index: Down The CPI dropped 1.0% in December but increased 0.1% over the...
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