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QUARTERLY FINANCIAL REPORT <br />QUARTER ENDING September 30, 2008 <br />Attached is the Financial Report for the quarter ending September 30, 2008. This report includes financial information on the City's <br />primary funds: General Fund, Water/Wastewater, Electric, Drainage, Waste Collection Fund, Debt Service and Hotel Occupancy Tax Fund. <br />General Fund <br />General Fund revenues for the fourth quarter of FY08 totaled $ 38.6 Million exceeding total budgeted revenues more than 10 %. The major sources <br />are Sales Tax at $18.3 Million; Ad Valorem Taxes at $ 4.3 Million and Utility Franchise Fees at $ 6.3 Million. The majority of Ad Valorem taxes are <br />collected in the first half of the year. <br />Actual expenditures at quarter end totaled $39.8 Million or 98% of total expenditures budgeted for FY08. Personnel services make up 64.03% of <br />total expenditures for this quarter end. <br />Sales Tax <br />This report also provides historical data related to our sales tax collection receipts within the City of San Marcos The City of San Marcos has <br />recognized an increase of 5.41% compared to the previous year. Sales tax deposits for the month of September 2008 were up $142,901 <br />compared to September 2007. <br />2 <br />