ITEM:

CONSENT CALENDAR

6.

RECEIVE AND FILE FIRST QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2005-06

Meeting Date:

From:

David A. Berger,

Program/

N/A

General Manager

Line Item No.:

Prepared By:

Rick Dickhaut

Cost Estimate:

N/A

## Committee Recommendation:The Administrative Committee reviewed this item on December 5, 2005 and recommended approval.

CEQA Compliance:  N/A

SUMMARY:  September 30, 2005 marked the conclusion of the first quarter of fiscal year 2005-06.  Bar graphs comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibits 6-A and 6-B.  Exhibit 6-C presents the same information in a table format.  The following comments summarize District staff's observations:

REVENUES

The revenues graph compares revenues received during the first quarter of fiscal year 2005-06 to the amounts budgeted for that same time period.  Revenues received during the first quarter of each fiscal year are typically less than the amount budgeted. Total revenues collected were $674,816, or 60% of the budgeted amount of$1,116,000.  Variances within the individual revenue categories are described below:

• Administrative permit fee revenues totaled $62,460, or about 71% of the amount budgeted for this period. • Connection charge revenues amounted to$175,617, which is approximately 292% of the budgeted amount.  The higher than expected collections are due to increased activities, mostly due to entitlement transfers within the Del Monte Forest.
• User fee revenues were $379,891, or about 26% less than the amount budgeted. This reduced amount is due to the fact that only two months of user fees were received during the period. • No property tax revenues were anticipated to be received during the first quarter. • No grant funds proceeds were anticipated to be received during the first quarter. • Project reimbursements were considerably less than the budgeted amount, which is typical early in a new fiscal year. • The “Other” revenue category was nearly$13,000 over budget due to various unanticipated miscellaneous revenues.

EXPENDITURES

Expenditure activity as depicted on the expenditure graph is similar to patterns seen early in past fiscal years.  Total expenditures were about 20% less than the budgeted amount of $1,162,700. Variances within the individual expenditure categories are described below: • Expenditures for supplies and services were$157,951, or about 14% percent less than the budgeted amount.
• Capital assets purchases equaled approximately 30% of the budgeted amount; however, these purchases are typically sporadic throughout each fiscal year.
• Funds spent for project expenditures were \$107,431, or approximately 40% of the amount budgeted for the period.  This percent is comparable to the first quarter in recent fiscal years.
• There were no expenditures from the Contingencies/Reserves category during the period.

### EXHIBITS

6-A      Revenue Graph

6-B      Expenditure Graph

6-C      Revenue and Expenditure Table

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