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Revenues are now projected to be $209,084 less than <br />originally expected. Based on the latest estimate from Alameda <br />County, net property tax revenues and transfer taxes are <br />projected at $538,000 less than anticipated a year ago. However, <br />sales tax revenues are exceeding original estimates and are <br />expected to be $300,000 higher than projected. State subventions <br />are also expected to be higher than projected by $136,000. <br />However, because building activity has slowed, permit and plan <br />check revenue estimates are being lowered by $439,000. A prior <br />year revenue adjustment upward of $290,000 is included as a <br />result of a one-time adjustment to our State retirement account. <br />All adjustments to the revenue projections are detailed in <br />Appendix A. <br /> <br />Expenditure adjustments totalling $475,988 are being requested. <br />Major increases include $213,000 for additional overtime coverage <br />in the Fire Department needed because of increased sick, injury <br />and vacation leave; $54,000 for major repairs to Fire apparatus; <br />$50,000 in the Police Department for P.O.S.T. reimbursable <br />travel (which is offset by an increase in estimated revenue from <br />the State for these expenditures); and $92,000 in additional <br />charges to all the City departments to be credited to the <br />employee benefit fund for future employee leave (needed because <br />original estimates made a year ago were too low). All <br />adjustments to expenditure requests are detailed in Appendix B. <br /> <br />Appendix C lists the 1989-90 budget amendments already adopted by <br />Council. Appendix D lists the commitments made in 1988-89 that <br />will not be finalized until 1989-90, and for which funds have <br />been set aside or "carried over" into 1989-90 from the 1988-89 <br />budget. Appendix E details all approved and recommended <br />transfers from the General Fund to the CIP. <br /> <br />SR:90:130 3 <br /> <br /> <br />