HomeMy WebLinkAbout102709 FINANCIAL UPDATE
FY2010
City of Virginia Beach
Bu to Actual Financial U te
For July 1 through September 30,2009
FY 2010 General
d Revenues
FY 2010 General Fund Expenditures
~ Limited Projections
Next Steps
FY 2010 Year To Date General Fund Revenues
Compared Trend
September 30, 2009
0%
100%
80%
~
I: 60%
~
~
i
{:. 40%
...
"
~
l20%
Jan
-Pertent of
FY 2010 - General Fund Revenues
.. Total Revenue follows
.. Many items are on a lag
.. Real Estate installments December 5 and June 5
.. Business license tax (BPOL) March
.. Personal Property tax due 5
2
100%
" 10% ..
~ Ii
::is \i
...
.. 8
~
" !
g!
~ 'l>
1% ~
~
0%
I:
a
i
...
!
I
Ill:
g
~
'5
o
1!
'"
l-
'l>
';/I.
General Sales Taxes
mber 30,2005 - 2010
<:
~
i
...
..
..
::I
~
:!
Hotel
September
m Taxes
2005 - 2010
i
i
...
ill
::I
I:
g!
~
..
"
(>
~
8
i
l-
'lS
';/I.
III
"
'"
..
g
'5
o
~
l-
%'0
';/I.
4
$60 100%
$60
80%
'" $40 ..
~ l:
"
i 60';' ~
..
rl !
"
J $30 ~
'l>
40% ;!.
$20
20%
$10
$0 00/0
Estate Taxes $472.0 0.7% F
onal Property Taxes 62.4 17.7% F
ervice (REand PP) 6.9 0.0% A
Penalty and Interest eRE and PP) 4,9 1.4 27.4% F
General Sales Tax 51.1 9.5 18.7% U
Utility and Franchis e Taxes 55.3 6.5 11.8% U
Business Ucenses 40,6 0.7 1.6% U
Hotel Taxes 23.9 12,2 51.1% U
Restaurant Taxes 49,8 14.3 28.7% U
Automobile Ucenses 9.0 1.6 17.5% U
ChherLocalRevenues 85.4 16.3 19,1% A
State Rewnues 160.4 20.3 12.6% F
Federal Rewnues 3.9 1
$i'OO:9
-
Excludes School Revenues
10
FY 2010 Veal" 'I() Fund Itxpenditures
Compared Historic
September 30, 2009
20%
100%
~ 80%
;;;
il
~
1"1
i 60%
::
"
-
"
i!
~ 40%
0%
M _ ~ ~ ~ ~ ~ M ~ ~ _ b
Historic Trend
-Pertent of FYl0 Budget
11
FY 2010 Year To Date General Fund Revenues & Expenditures
Compared to Historic At September 30, 2009
80%
100%
60%
'3
,:;
...
.e
ij 40%
!::
..
i:l,
20%
0%
Jul
Aug
Sep Oct Noy
_Rev Trend
_ExpTrend
Dee Jan F.b Mar
_%ofFY10 Rev Budget
"">>Y" % of FY10 Exp Budget
Apr May
Jun
6
Total at September 30, 2009: $310.6M, or 28.5%
Projected Expenditures at 30,2010 = $1.06B
(Budget $ L09B)
Summary of Actual Expenditures Under Budget at June 30:
13
Next
Continue to Monitor Revenues in FY 2010
III! Business - March
l1li Personal - Marchi April
Five Year Forecast Brie g November 17
Next Briefing for FY2010 is November 24
Audited Financial Statements for FY09
December 8, 2009.
14