Attachment 4C - 18
GENERAL FUND REVENUES
BY CATEGORY
FY 2018/19 General Fund revenues and fund transfers are estimated to increase by 7.6% from the FY 2017/18 adopted budget.
The Town’s operations are funded through a variety of revenue sources as depicted above. Revenues were estimated by trend
analysis and historical data as explained below:
Sales Tax – While the Town only receives 1 cent of the 9 cents of sales tax paid per dollar of taxable sales generated in Town,
Sales and Use Tax remains one of the General Fund’s largest revenue sources. The FY 2018/19 budget reflects $7.7 million in
sales tax revenue, or a 2.9% decrease compared to the prior year budgeted amount. The negative impact is associated with the
Netflix change in business model, increased on-line retail sales versus local brick and mortar shopping, and lower gasoline prices.
Property Tax – Property Tax receipts in Los Gatos are expected to increase from the budgeted FY 2017/18 amount by 9.9%
totaling $12.5 million, as homes sales continue to rise with the positive economy and low interest rates. Property Tax budget
projections are based on valuations projected by the Santa Clara County Assessor’s Office, given increased home sales, coupled
with anticipated adjustments in property tax distribution due to the dissolution of California redevelopment agencies. The Town
receives 9.3 cents of each property tax dollar paid by property owners. The remaining 90.7 cents of each dollar is distributed to
several other taxing jurisdictions, including local schools, community college districts, the County of Santa Clara, Santa Clara
County Central Fire Protection District, and other special districts that serve the community.
2014/15 2015/16 2016/17 2017/18 2017/18 2018/19 % of
Revenue Category Actuals Actuals Actuals Adopted Estimated Proposed Total
Property Tax 10,113,287$ 10,779,434$ 11,518,257$ 11,383,073$ 11,957,352$ 12,507,071$ 29.5%
VLF Backfill Property Tax 2,818,316 2,984,023 3,237,955 3,269,370 3,447,584 3,482,060 8.2%
Sales & Use Tax 8,202,678 7,501,175 9,171,373 7,972,195 7,681,546 7,744,208 18.3%
Franchise Fees 2,215,430 2,258,892 2,366,908 2,287,390 2,317,390 2,386,910 5.6%
Transient Occupancy Tax 1,896,721 1,943,166 2,322,910 2,060,000 2,250,000 2,272,500 5.4%
Other Taxes 1,809,620 1,475,425 1,726,128 1,582,000 1,657,000 1,657,000 3.9%
Licenses & Permits 3,757,590 3,512,019 3,038,511 2,908,829 2,904,280 3,304,199 7.8%
Intergovernmental 1,004,661 984,507 908,285 666,375 667,513 646,640 1.5%
Town Services 3,698,091 3,489,216 3,284,295 3,123,207 3,388,131 4,457,258 10.5%
Fines & Forfeitures 842,470 858,929 917,106 695,400 683,547 631,400 1.5%
Interest 430,476 620,895 171,653 270,723 270,723 267,806 0.6%
Other Sources 3,833,845 2,825,437 4,234,238 2,590,020 2,890,632 2,461,769 5.8%
Total Revenues 40,623,185$ 39,233,118$ 42,897,619$ 38,808,582$ 40,115,698$ 41,818,821$
Transfers In:311,810$ 2,436,405$ 313,825$ 544,836$ 544,836$ 544,836$ 1.3%
Total Revenues & Transfers In 40,934,995$ 41,669,523$ 43,211,444$ 39,353,418$ 40,660,534$ 42,363,657$ 100%