Page 46 - FY 2022-23 Revenue Outlook

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

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ (1,510) (9) - - (1,084) (1,084) (1,084) -
AUGUST 366 593 116 - (174) (174) (174) -
SEPTEMBE - - - - - - - -
OCTOBER - - - - - - - -
NOVEMBER (71) - - - - - - -
DECEMBER (2) - - - - - - -
JANUARY 269 - - - - - - -
FEBRUARY (2) 274 (59) - (39) (39) (39) -
MARCH 2 - - - - - - -
APRIL 1 52 - - - -
MAY (2) - (1) - - -
JUNE 8 2 - - - -
TOTAL $ (941) $ 911 $ 56 $ - $ (1,296) $ -
% Change -214.6% -196.8% -93.9% -100.0% -2414.5% -100.0%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ (1,510) (9) - - (1,084) (1,084) (1,084) -
AUGUST (1,145) 584 117 - (1,258) (1,258) (1,258) -
SEPTEMBE (1,145) 584 117 - (1,258) (1,258) (1,258) -
OCTOBER (1,145) 584 117 - (1,258) (1,258) (1,258) -
NOVEMBER (1,215) 584 117 - (1,258) (1,258) (1,258) -
DECEMBER (1,217) 584 117 - (1,258) (1,258) (1,258) -
JANUARY (948) 584 117 - (1,258) (1,258) (1,258) -
FEBRUARY (950) 858 58 - (1,296) (1,296) (1,296) -
MARCH (948) 858 58 - (1,296) (1,296) (1,296) -
APRIL (948) 910 58 - (1,296) -
MAY (950) 910 56 - (1,296) -
JUNE (941) 911 56 - (1,296) -

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. 2022-23 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.

34