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Home My WebLink AboutJanuary - March 2006 Revenue and ExpendituresMEMORANDUM T0. DownlownManagamantCOmmission Molly Winler, ExecWrve Direc~or FROM: Donre Jobart, Financial Mareger SUBJECT.January-March2006 RevenueandExpanditures DATE: 5/5/2006 Shown below is a summary January-March 2008 reverxre and ezpentlituras. The 2006 budge~ and 2005 acWals are shown for comparative purposes. Overall, $146,609 more was collected Jao-Mar 20061han lha sama penotl last yaar. Rever~ues recerved are 20 6% of year to date budgat projecM1On. Short lerm revenues are 2% abova budge~ to date This is mos0y due to 10th arM Walnut as Ihe hotel opened in March 05 W ithou~ 1000 W airwl, shoA term gara9e revenue is dovm 3% Meter revanues are closa lo budget year lo tlate. Long term permit revenues are 11% above budget fo da~e. This vanance is pnmarily due lo iha 10% parmit rate increase W ait lis~s s611 exis~ for all downtown S~mcNreS antl lots. They are at iheir lowest in years. (less than 350) Parking pmduct sales continue to tlo well, especially ihe meter key ReMal income is down dua to vacancies aiM tenent finish cosis. 11ih and Spruce had rqt baen upgraded sinca ~t was built Squara foolage rates m ihe o~ce are down due ~o iha overall vacar,cy rate in Ihe tlownlown area ExpeMrtures for 20~6 equal 23 8% of budgeted expenes antl are $95,7451ower ihan last years ezpeMitures at ihe same poinl. This variarice is primarity due to overbillad util0y costs in 2005, arid ~o a 48k decrease in ~ha Eco Pass cost Operatmg expenses will be closaly mondwetl to ensure tha butlget is on target (or 2006. Opera(mg carryovers for 1000 Walnut and Mall Improvaments wAI be eirtered in ihe ~xt ~TR after appmval by covncA. CAGID Jan-Mar 2006 REVENUES Jan-Mar2006 2006 Jan-Mar2005 Revenue ApOrovatl % of2006 Revenue 2005-2006 2005-2006 ACCOUNT Collected Budget BudgetCollectad Collected SDifference %DiNerance Property Tax 217,421 810,495 26 B% 163,655 53,766 32 9 h SpecifcOwriership 10,863 58.895 184% 10,358 505 49% SubtotalTAXES $228,284 $869,390 263% $774,013 $54,271 312% 8roadway/Spruce 19,681 85,000 232% 19,815 (130) -0 7% 15ih8Pear~S.T 36,816 180.000 205% 44,663 (7,847) -17.6h 111h 8 Spnica/ 5.T 69,718 300,000 23 2% 73,593 (3,875) -5 3% iith&WaIriWST. 54,340 225,000 242% 50,912 3,428 67No 14th8WalnuUST 21,712 Bfi,00~ 252% 21,473 239 ii% tOthBWaImNS.T. 47,489 250,125 i6.6% 30,64'I '10,828 353k ValidalronStamps 18,675 60,000 31.1% 18,600 75 0.4% Garage 20 day Pass 5,550 10,000 55 5% 3,000 2,550 85 0% Cash PassNalue Cartl 6,~~3 25.000 271% 7,501 (728) -9.7% SubtolalSHORTTERMPARKING $274,734 $1,221,125 22.5% $270,198 $4,536 1.7% 11th&Spruce/Permits 81,111 3~9,Bifi 262% 76,558 4,553 5.9% 14t~&Walnut/Permits ]2,363 275,18G 263% 57,820 14,543 252% 14ih & Cairyon 10,079 47,376 21 3% 10,864 pB5) -7 2% 101h&Walnut 111,676 421,225 265% 96,591 15,085 15.6% 111h & WaInW Permits 6Q~25 2~1,240 29 B% 43,094 16,931 39.3% 15th & Pearl/ PermAs 146,379 613,080 23.9h 147,418 (1,039) -0 7% 19]510~h ],751 3~,224 20.BYo 8."!]9 (1.023) 41 ]Y 1]4574ih 13)81 62,604 22.0% 14,32fi (545) 38% WatLisUOvervUndeqCCfees t,176 0 106 1,070 Subro[al LONG TERM PARKING $504,341 $1,967,749 25.6% $455,551 $48,790 70 7% Tokens 3,668 12,500 29 3% 4,1]5 (507) -12 t% Metarhootls fi,94] 50,000 137% t7,343 (10,49fi) -fi05% GashKey 34,953 55,000 836% 22,750 12,203 536% Metere (Transfar (mm G F) 308,065 1,292,800 23.8% 294,205 13,860 4]% OrreBoulderPlaza 6,250 12,500 500% 6,250 0 00% SubtalalMETERS $359.783 $1,422,800 25.3% $344,723 $15,060 44% Interesl ],132 19,"l90 36.0% 5,032 2,100 917% 101handWalnutTlF/InieresVMisc 42,358 1,110,164 3.8% 7,961 34,397 4320% Ranlallncome-11ih&Spmce 12,705 108,308 ~17% -15,562 28,267 Renlallncome-15ih&Pead 21,276 273,115 78k 56.339 (35,063) -622% Rentallncome-Kiosks 0 37,100 00% 6,022 (6,022) -1000% Ren[allncome-ATMRandolph 655 3,000 218% 707 (52) -74% Miscellaneous -194 17,359 -11% -519 325 -fi28% TOTAL 51.451,074 b7.049.908 20.8% 57,304,465 5146,fi09 112Ye S \CMOIDUHMDPS\tlmc\BUDGETd)\CAGID dJ\O6C~TR MEMORANDUM CAGI~ Jan-Mar 2006 E%PENSES ACCOUNT Jan-Mar200fi Ezpense 2006 8utlgat h ot2006 8udget Expended Jan-Mar2005 Ezpense 2005-2006 S Differenca 2005-2006 % Differenca ParkingSvcsPersonnel 158,611 680,071 233% 153,491 5,120 33% ParkinqSvcsNoo-personnal 112,203 588,047 191W 168,893 (56,690) -336% DUHMDPersonnel 99,757 465,449 210h 93,629 6,128 65% DUHMDNorvpersonnal 48,234 414,153 7~2% 36,30~ 11,934 329% Subto[aIOPERATIONS $418,805 $2,207,721 19.0% $452,313 ($33,5~8) -7A% Cosl AilocaboNBenefil (uM/trens(ers 32,305 129,220 25 0% 33,580 (1,275) -3 B% DabiService 54,173 2,600,023 21% 19,750 (25,638) -321% 9thaMCanyonDebiService 225,351 1,7W,121 204% 308,565 (83,21d) -270% Malllmprovemenis 500,000 500,000 7~00% 392,000 108,000 276Y> Eco-PassPmg 461,314 568,865 814% 509,325 (48,011) -94% CapitalReplacemenlReserve 0 12,100 00% 12,100 (72,100) -100.OW TOTAL 51,697,888 57,723,049 23.8% 51.787,633 (595,745) -5.4% 5 \GMO\DUHMDPS\dmc\BUDGETtl~\GAGID 0~\O6C~TR