Page 58 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Utility Users Tax - Gas Users Tax

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 4,922 5,416 5,198 5,080 5,835 755 5,835 4,830
AUGUST 4,451 4,556 4,631 4,515 4,623 108 4,623 4,410
SEPTEMBER 4,231 4,037 4,540 4,080 4,250 170 4,250 4,120
OCTOBER 4,751 4,203 5,212 4,150 4,179 29 4,179 4,190
NOVEMBER 4,651 4,571 4,929 3,600 4,533 933 4,533 4,120
DECEMBER 5,068 5,063 5,252 4,320 5,163 843 5,163 4,810
JANUARY 7,712 6,055 8,060 6,410 8,254 1,844 8,254 6,790
FEBRUARY 10,008 7,937 11,628 8,640 11,127 2,487 11,127 8,910
MARCH 9,440 7,072 11,074 7,090 9,591 2,501 9,591 7,440
APRIL 7,825 8,308 10,361 6,140 6,459 6,540
MAY 5,561 5,857 366 4,820 5,220 5,280
JUNE 5,114 4,952 5,782 4,480 4,900 4,960

TOTAL $ 73,733 $ 68,028 $ 77,035 $ 63,325 $ 74,135 $ 66,400
% Change 11.1% -7.7% 13.2% -17.8% -3.8% -10.4%

2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 4,922 5,416 5,198 5,080 5,835 755 5,835 4,830
AUGUST 9,373 9,973 9,830 9,595 10,459 864 10,459 9,240
SEPTEMBER 13,604 14,009 14,370 13,675 14,708 1,033 14,708 13,360
OCTOBER 18,354 18,212 19,582 17,825 18,888 1,063 18,888 17,550
NOVEMBER 23,006 22,783 24,511 21,425 23,421 1,996 23,421 21,670
DECEMBER 28,074 27,847 29,764 25,745 28,584 2,839 28,584 26,480
JANUARY 35,786 33,901 37,824 32,155 36,838 4,683 36,838 33,270
FEBRUARY 45,794 41,839 49,452 40,795 47,965 7,170 47,965 42,180
MARCH 55,234 48,910 60,526 47,885 57,556 9,671 57,556 49,620
APRIL 63,059 57,219 70,887 54,025 64,015 56,160
MAY 68,619 63,076 71,253 58,845 69,235 61,440
JUNE 73,733 68,028 77,035 63,325 74,135 66,400
Revenue from the gas users tax tracks natural gas futures. Prices have dropped significantly in recent years, but
City receipts, which has historically followed the market have diverged during the colder winters and the Aliso
Canyon gas leak.
Remittances for 2018-19 reflect the reduced May payment reflecting the California Climate Credit's credit impact
on gas utility user bills.
The 2019-20 estimate has been increased to reflect the higher receipts. However, remaining receipts will be
reduced to reflect impact of a legal settlement that will reduce the tax rate for three years. The 2020-21 estimate is
based on average receipts as well as futures in the natural gas market. The full year impact of the settlement is
reflected as reduced receipts.

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