Page 45 - 2020-21 Supporting Information Book_Revised

2020-21 PROPOSED BUDGET
SUMMARY OF CHANGES TO GENERAL FUND REVENUE FROM PRIOR YEAR
Economy-Sensitive and Other
(Thousand Dollars)

2020-21 Proposed Change
2019-20 Economy Other 2020-21
Budget Sensitive* Proposed
Property Tax $ 2,115,611 $ 179,469 $ 2,000 $ 2,297,080
Property Tax 1% 1,613,059 142,941 2,000 1,758,000
VLF Replacement 502,552 36,528 - 539,080
Redirection of ex-CRA Tax Increment Monies 100,386 1,749 (6,235) 95,900
Licenses, Permits, Fees and Fines (LPFF) 1,226,882 50,653 57,753 1,335,289

Utility Users Tax 652,165 (30,645) (6,900) 614,620
Electric Users Tax 447,440 (12,620) - 434,820
Gas Users Tax 63,325 9,975 (6,900) 66,400
Communications Users Tax 141,400 (28,000) - 113,400
Sales Tax 589,790 (32,735) - 557,055
Business Tax 657,150 (15,310) 44,700 686,540
Transient Occupancy Tax 326,620 (77,035) (4,725) 244,860
Power Revenue Transfer 235,600 (11,500) - 224,100
Documentary Transfer Tax 211,960 4,115 (240) 215,835

Parking Fines 123,785 - 16,692 140,477
Parking Occupancy Tax 121,900 (19,900) - 102,000
Franchise Income 80,240 2,741 (1,755) 81,226
Special Parking Revenue Transfer 57,313 - (29,593) 27,721
Interest 36,700 (2,087) - 34,613
Grants Receipts 15,729 - (3,208) 12,521
Tobacco Settlement 10,952 - (337) 10,615
Residential Development Tax 5,020 (1,327) - 3,693
State Motor Vehicle License Fees 1,946 1,433 (181) 3,198
Reserve Fund Transfer - - - -
Budget Stabilization Fund Transfer - - - -
Total General Fund Receipts $ 6,569,750 $ 49,621 $ 67,972 $ 6,687,342

* Economy-sensitive revenues include growth in property, utility, business, sales, documentary transfer, transient occupancy, parking
occupancy, and residential development tax revenues, as well as other revenues detailed above. Other changes not considered
economy-driven in tax revenues include: the decline in proceeds from the sale of former CRA surplus property; legal settlements
charged credited against gas users tax receipts (second year impact); reduced transient occupancy tax revenue under the home-
sharing policy (second year impact); variable documentary transfer tax revenue from changing legal ownership; and the recovery of
2019-20 taxes deferred during the COVID-19 pandemic.

Departmental revenues (consisting of reimbursements for services and receipts from licenses, permits, fees, and fines) include new,
non-economic changes such as: increased reimbursements for LAPD's security services contract with the Los Angeles Metropolitan
Transportation Authority; higher ambulance and code enforcement fees; revised Cost Allocation Plan (CAP) rates and updated
vacancy, salary and service level assumptions; and the recovery of 2019-20 receipts delayed by the COVID-19 pandemic's impact to
City operations.

Changes to other miscellaneous revenues include: a reduced transfer from the Special Parking Revenue fund which previously
reflected proceeds from the Mangrove property; increased parking fine revenue which includes the recovery of 2019-20 fines
remitted under an extended grace period during the pandemic; and increased grant receipts from the Disaster Assistance Trust
Fund. No Federal or State assistance related to the COVID-19 pandemic is assumed in the proposed budget.

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