ADMINISTRATIVE COMMITTEE
4.	RECEIVE AND FILE FIRST QUARTER FINANCIAL ACTIVITY REPORT FOR FISCAL YEAR 2012-2013
Meeting Date:		January 18, 2013	Budgeted:	N/A
From:		David J. Stoldt,	Program/	N/A
		General Manager	Line Item No.:
Prepared By:		Suresh Prasad	Cost Estimate:	N/A
General Counsel Review: N/A
Committee Recommendation: The Administrative Committee reviewed this item on January 18, 2013 and recommended __________________.
CEQA Compliance: N/A

SUMMARY: The first quarter of Fiscal Year (FY) 2012-2013 came to a conclusion on September 30, 2012. 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 and conclusion of FY 2012-2013 to the amounts budgeted for that same time period. Total revenues collected were $394,230, or 11.1% of the budgeted amount of $3,540,550. Variances within the individual revenue categories are described below:

• Administrative permit fee revenues totaled $60,636, or about 105% of the amount budgeted for the period.
• Connection charge revenues amounted to $48,216, which is approximately 110.2% of the budgeted amount.
• Interest revenues were $52, or only 4.2% of the budget for the period. This is due to low interest rates received from the financial institutions. Currently, the interest rates are set below ½ percent. Also, first quarter interest revenue for LAIF was not received until October 2011.
• User fee revenues were $5,203, or about 20.8% of the amount budgeted.
• Property tax revenues were $28,830 or 8.2% of the budget for the period.
• Project reimbursements of $108,487, or 7.9% of the budget.
• Interim Mitigation Revenues were $129,997 or 33.3% of the amount budgeted.
• The “Other” revenue category totaled $12,809 or about 111.4% of the budgeted amount.

EXPENDITURES

Expenditure activity as depicted on the expenditure graph is similar to patterns seen in past fiscal years. Total expenditures of $1,072,500 were about 30.3% of the budgeted amount of $3,540,550 for the period. Variances within the individual expenditure categories are described below:

• Personnel costs of $807,342 were about 98% of the budget for the period.
• Expenditures for supplies and services were $72,718, or about 31.1% of the budgeted amount.
• Fixed assets purchases of $0 represented around 0% of the budgeted amount.
• Funds spent for project expenditures were $183,725, or approximately 7.6% of the amount budgeted for the period.
• Debt Service expense of $8,715 represented around 23.9% of the budgeted amount.
• Contingencies/Other included costs of $0, or 0% of the budget for the period.

EXHIBITS

4-A Revenue Graph

4-B Expenditure Graph

4-C Revenue and Expenditure Table

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