Page 466 - 2020-21 Budget Summary

Revenue Forecast Report
Discussion

EXHIBIT 3

GENERAL FUND ECONOMY-SENSITIVE REVENUES
YEAR-TO-YEAR CHANGES
(All graphs presented in thousands)

Property Tax • Fiscal Year 2019-20

Total property tax receipts are Property Tax
estimated $2.15 billion which is
$35.7 million (1.7%) above the $2,301,647
budgeted amount, mainly due to
higher than anticipated current
secured property tax revenue. $2,115,611 $2,151,292
• Fiscal Year 2020-21
Total property tax receipts are
projected to increase by $150.4
million (7.0%) and reach $2.30 FY 2019-20 FY2019-20 FY2020-21
billion. Adopted Estimated Projected
Budget Reciepts Receipts

Utility Users’ • Fiscal Year 2019-20
Tax Electric users’ tax receipts are
(Electrical, estimated to be $453 million based
Telephone, on year-to-date collection trend, Utility User's Tax
and Gas) reflecting the approved rate
increase.
Telephone users’ tax receipts are $63,325 $71,826 $64,169
estimated to be $133 million based
on average 3 years collection trend. $141,400 $132,789 $117,846
Gas users’ tax receipts are
estimated to be $72 million based
on collection to date, and reduced
by $1.9 million Lavinsky case
payment. $447,440 $452,682 $462,641
• Fiscal Year 2020-21
Electric users’ tax receipts are
estimated to be $463 million, 2.2%
increase due to DWP Retail Rate
Change. FY 2019-20 FY2019-20 FY2020-21
Telephone users’ tax receipts are Adopted Estimated Projected
estimated to be $118 million based Budget Reciepts Receipts
on average 3 years collection trend.
Gas users’ tax receipts are
estimated to be $64 million at Electric user's Tax Telephone user's Tax Gas user's Tax
current year’s level, reduced by
$7.7 million Lavinsky case payment.
Revenue F orecast Report
Discussion

Page | 6

431