August 31, 2017—PICA’s Staff Report on the City’s Quarterly City Managers Report (“QCMR”) for fiscal year-end 2017 shows a General Fund year-end balance estimated at $88.6 million, $48.3 million higher than the initial FY2017-2021 Five Year Financial Plan (“Plan”). The report also shows General Fund revenue estimated at $4.14 billion for the fiscal year, an increase of $6.4 million from the Plan. Tax revenue is estimated to be $23.2 million below Plan projections. This decline is offset by higher than projected locally generated non-tax revenue ($17.8 million) and revenue from other governments ($11.9 million).

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