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City Council Meeting Minutes June 4, 2019 <br />gap in communication and to ensure everyone is getting the same information. <br />Staffs job is to make sure that they are getting that information. <br />PRESENTATIONS <br />1. Receive a Staff presentation of the 2nd Quarter Investment and Financial Reports, and <br />provide direction to City Manager. <br />Heather Hurlbert, Director of Finance, provided the 2nd Quarter Investment & <br />Financial Reports. The Revenue Highlights include the following: <br />General Fund -Favorable $730K or 1.5% <br />* Sales tax collections above forecast $200K due to collections above budget <br />for the Outlet Malls and Base Sales Taxes <br />* City owned Franchise Fees $500K below forecast due to reduced utility <br />revenue <br />* License and Permits $700K above forecast <br />W/WW-Unfavorable $2.3M or -11.4% <br />* Water sales 3% below same time last year <br />* Primarily due to mild, rainy weather pattern <br />Electric -Unfavorable $1.9K or -6.7% <br />* Electric power sales flat compared to same time last year <br />* Primarily due to mild temperatures <br />Hotel/Motel Tax -Favorable $46K or 2.8% <br />* Revenue collections slightly higher year to date than same time last year due <br />to new hotel collections <br />Expenditure Highlights include the following: <br />General Fund -Favorable $1.4M or 3.6% <br />* $400K personnel savings <br />* $235K ED incentive payment timing <br />* $800K other expense timing <br />W/WW-Favorable $1.8K or 11.7% <br />* $1.0M contract timing <br />* $200K franchise fee savings due to lower revenue <br />Electric -Favorable $2.8M or 10.0% <br />*$2.OM cost of power and $200K franchise fee savings due to lower revenue <br />City of San Marcos Page 3 <br />