Page 45 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - Adjustments
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 34 (1,510) (9) - - - - -
AUGUST 289 366 593 - 116 116 116 -
SEPTEMBER - - - - - - - -
OCTOBER - - - - - - - -
NOVEMBER (137) (71) - - - - - -
DECEMBER 7 (2) - - - - - -
JANUARY (1) 269 - - - - - -
FEBRUARY (20) (2) 274 - (59) (59) (59) -
MARCH 683 2 - - - - - -
APRIL (19) 1 52 - - -
MAY (14) (2) - - - -
JUNE - 8 2 - - -
TOTAL $ 821 $ (941) $ 911 $ - $ 58 $ -
% Change 23.9% -214.6% -196.8% -100.0% -93.7% -100.0%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 34 (1,510) (9) - - - - -
AUGUST 323 (1,145) 584 - 117 117 117 -
SEPTEMBER 323 (1,145) 584 - 117 117 117 -
OCTOBER 323 (1,145) 584 - 117 117 117 -
NOVEMBER 186 (1,215) 584 - 117 117 117 -
DECEMBER 193 (1,217) 584 - 117 117 117 -
JANUARY 192 (948) 584 - 117 117 117 -
FEBRUARY 172 (950) 858 - 58 58 58 -
MARCH 854 (948) 858 - 58 58 58 -
APRIL 836 (948) 910 - 58 -
MAY 821 (950) 910 - 58 -
JUNE 821 (941) 911 - 58 -

This category captures what is usually a relatively small amount of property tax adjustment activity due to
assessment appeal reductions; mistakes; incorrect assessments; monies previously directed to Central Business
Districts (CBD) Community Redevelopment Agency; or corrections to assessment payments collected by the
Treasurer/Tax Collector. Adjustments can be either positive or negative. Since these adjustments are usually
under $1 million annually and could be either positive or negative, budget estimates typically include all entries to
date for the current fiscal year. 2021-22 makes no assumptions for adjustments.
The adjustment total for 2018-19 reflects the impact of the CRA-related tax settlement agreement with the Los
Angeles Community College District which was realized as a credit against property tax receipts.

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