City Council Regular Meeting


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  8.B.       
Meeting Date: 09/15/2021  
From: Mary Lagasca

RECOMMENDATION
Receive the Core Revenue Status Report for August 2021.
DISCUSSION
The Pacific Grove’s (City) General Fund revenues are primarily derived from Property Tax, Transient Occupancy Tax, and Sales and Use Tax revenues.  In the Fiscal Year (FY) 21/22 Adopted Budget, it was estimated the City would receive $17.2 million or 64% of the General Fund revenues from these three tax sources.  When the combined General Fund revenues exclude one-time American Rescue Plan Act (ARPA) and Library donations, these three taxes represent 68.6% of on-going revenues.

Additional information on the budgeted amounts and revenues to date for the current fiscal year are included in Attachment 1.
OPTIONS
N/A – this is informational only.
 
FINANCIAL IMPACT:
There is no fiscal impact.
 
  
GOAL ALIGNMENT: Financial Stability: Develop a strategic plan to better address current and future City expenditure and revenue needs.
Attachments
Core Revenue Report August 2021


    

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