Meeting Date:

June 21, 2004

Budgeted:  N/A


Staff Contact:

Rick Dickhaut

Program/Line Item No.:  N/A



Cost Estimate:  N/A


General Counsel Approval:  N/A

Committee Recommendation:  N/A

CEQA Compliance:  N/A


SUMMARY:  March 31, 2004 marked the conclusion of the third quarter of the District's 2003-2004 fiscal year.  Exhibit 34-A and Exhibit 34-B are graphs showing both budgeted and actual year-to-date revenues and expenditures for the first nine months of the fiscal year.  Exhibit 34-C presents the same information in a table format.  The following comments summarize District staff's observations.



The revenues graph compares actual revenues received during the first nine months of fiscal year 2003-2004 with the amounts budgeted for that same time period.  As the graph shows, revenues for permits were 49% over the budgeted amount while connection charges were 22% less than budgeted amount.  The “Other” category is about 43% under the budgeted amount.  Interest revenues for the period were approximately 62% under budget due to the timing of receipts, continued low interest rates and use of reserve funds for capital projects.  User fees collected were approximately 1% over budget and do not include receipts for the month of March.  Taxes received during the period were about 27% under the budgeted amount, however, this is due to the fact that they are not received uniformly throughout the fiscal year.  No grants revenues were anticipated or received during the period.  Overall, total revenues received through the first nine months of the fiscal year represented 86% of revenues budgeted for the same period.



Expenditure activity for the first nine months of the fiscal year is similar to patterns seen over the past several years. Personnel expenses are 8% below budget, with the majority of the variance attributable to the unexpended personnel contingency of $59,000.  Expenditures for supplies and services were about 18% over budget for the period.  Purchases of capital assets were 48% less than the budget, mostly due to the deferment of a vehicle purchase to a future year.  Expenditures for Project costs were approximately 72% of the budgeted amount for the period.  The “Other” category, which is at 71% of budget, includes items such as $159,600 for payback on the Harris Court office building and $72,000 for contingencies.  These funds are generally not utilized until later in the fiscal year.  Overall, expenditures for the nine month period totaled approximately 84% of the amount budgeted for the fiscal year.