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LOS ANGELES COUNTY CHILDREN AND FAMILIES FIRST – PROPOSITION 10 COMMISSION (a Component Unit ... - page 14 / 47

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Investment income

28,102,852

34,996,079

(20%)

Other revenue

453,762

467,302

(3%)

Total general revenues

28,556,614

35,463,381

(19%)

Total revenues

166,292,312

178,891,645

(7%)

Tobacco taxes

$

114,925,729

$

122,655,958

(6%)

State School Readiness

15,445,577

15,098,348

2%

Salaries and benefits

8,161,291

6,638,953

23%

Operating services

1,090,947

693,968

57%

Consultant services

653,301

415,735

57%

Professional services

400,036

276,610

45%

Other expenses

69,045

90,880

(24%)

Depreciation

576,664

575,911

0%

Total expenses

171,191,151

139,586,539

23%

(4,898,839)

39,305,106

(112%)

$

899,792,009 894,893,170

$

860,486,903 899,792,009

5% (1%)

22%

Change in net assets:

Net assets – beginning Net assets – ending

Revenues The Commission received total revenues of approximately $166.3 million in FY 2008-09, which was a decrease of $12.6 million, or (7%) compared with the prior year’s total revenues of $178.9 million. The decrease in First 5 LA revenues is primarily due to the following:

925,511

-

100%

137,735,698

143,428,264

(4%)

The following is a summary of the Commission’s revenues, expenses and change in net assets comparing FY 2008-09 with 2007-08.

130,894,482

Revenues: Program revenues

Expenses: Provider grants and other allocations

160,239,867

Other State Commission Program Funds Medical Administrative Activities Total program revenues

General revenues

6,438,881

5,673,958

13%

FY 2008-09

FY 2007-08

Percent Increase (Decrease)

Tobacco Tax Tobacco tax revenue decreased from $122.7 million in FY 2007-08 to $114.9 million in FY 2008-09, a decrease of $7.7 million, or (6%). This decrease is mostly due to the decrease in sales of tobacco products and the decrease in birth rate in Los Angeles County as projected by the State. Birth rates of each county are the primary factor in determining the allocation of tobacco tax revenues.

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