ADMINISTRATIVE COMMITTEE
4.	RECEIVE AND FILE FIRST QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2009-10
Meeting Date:		January 20, 2010	Budgeted:	N/A
From:		Darby Fuerst,	Program/	N/A
		General Manager	Line Item No.:
Prepared By:		Rick Dickhaut	Cost Estimate:	N/A
General Counsel Review: N/A
Committee Recommendation: The Administrative Committee reviewed this item on January 20, 2010 and recommended ____________.
CEQA Compliance: N/A

SUMMARY: The first quarter of Fiscal Year (FY) 2009-10 came to a conclusion on September 30, 2009. Bar graphs comparing budgeted and actual year-to-date revenues and expenditures for the period are included as Exhibits 4-A and 4-B. Exhibit 4-C presents the same information in a table format. The following comments summarize District staff's observations:

REVENUES

The revenues graph compares amounts received through the first quarter of FY 2009-10 to the amounts budgeted for that same time period. Total revenues collected were $684,159, or 34% of the budgeted amount of $1,988,400. Variances within the individual revenue categories are described below:

• Administrative permit fee revenues totaled $86,177, or about 125% of the amount budgeted for the period.
• Connection charge revenues amounted to $280,107, which is approximately 280% of the budgeted amount. The higher than expected receipts were due to fees collected in September for the Seaside City Center development.
• Interest revenues were $416, or only 4% of the budget for the period. This is due to low interest rates and because interest payments from the Local Agency Investment Fund are not received until after the end of each quarter.
• User fee revenues were $289,332, or about 31% of the amount budgeted. This is below budget because only one month’s user fees were received during the period.
• No property tax revenues were received during the quarter because they are received from the County of Monterey on a semi-annual basis in December and April of each FY.
• Project reimbursements of $15,775 were considerably less than the budgeted amount as is typically the case early in each FY.
• The “Other” revenue category totaled $12,352 or about 5% of the budgeted amount. This is well below budget because this category includes potential use of reserves during the FY.

EXPENDITURES

Expenditure activity as depicted on the expenditure graph is similar to patterns seen in past fiscal years. Total expenditures of $1,198,217 were about 60% of the budgeted amount of $1,988,400 for the period. Variances within the individual expenditure categories are described below:

• Personnel costs of $796,540 were about 98% of the budget for the period.
• Expenditures for supplies and services were $125,010, or about 53% of the budgeted amount.
• Capital assets purchases of $11,922 represented around 31% of the budgeted amount. Capital purchases typically occur sporadically throughout each FY.
• Funds spent for project expenditures were $255,690, or approximately 30% of the amount budgeted for the period. This is similar to trends in previous FYs.
• There were expenditures of $9,055 from the Contingencies/Reserves category during the period. This is about 15% of the amount budgeted for the period.

EXHIBITS

4-A Revenue Graph

4-B Expenditure Graph

4-C Revenue and Expenditure Table

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