4. Transient Occupancy Taxes: TOT taxes were 50 thousand or 3.71% under prior year. Continued decrease in travel because of the COVID-19 pandemic has resulted in hotel revenue decrease. 5. Property taxes. Property tax increased by $2 million over the prior year. Property taxes grew 6.7% thanks to a strong housing sales market. 6. Charges for Services. These revenues increased by approximately $0.6 million or 7.51% from FY18-19 pre-pandemic to FY19-20. These revenues continue to be impacted by the pandemic and have negligibly increased from prior year by 0.31%. The continued decrease is a result of COVID-19 pandemic closures of The Downey Theatre and Space Center. In addition to continued decline in Parks and Recreation sports supported fees. 7. Use of Money and Property. These revenues decreased by $2 million or 59.22% less than prior year. Due to reduced gains on investment earnings from the unspent proceeds of 2017 Revenue Bonds. In FY19-20 the ending balance was 10.6 million in FY20-21 $500 thousand. The unspent proceeds reduced significantly because of completion of Measure S Capital Projects. In addition, to lower interest rates on investments from prior fiscal year. 8. Operating Grants and Contributions: Operating Grants increased by 9.5 million or 72.48% as a result of the Coronavirus Aid, Relief, and Economic Security Act and American Cost Recovery Act to assist the City’s response to the pandemic. Moreover, these Grants have aided the City of Downey to provide local business and renters with grants. 9. Program Expenses: Program activities experienced an increase of $1.7 million or 1.30% from prior year. The increase is primarily due to higher pension costs and cost of living increase.
Governmental Activities by Program/Function 60,000 50,000 40,000 30,000 20,000 10,000 -
2021 Expenses 2021 Revenues
General Govern ment
Public Safety
Public Works
19,271 10,594
83,139 12,452
15,176 16,604
2021 Revenues
12
Commun Commun Interest ity ity on LongServices Develop term ment Debts 9,281 6,636 3,209 723 2,120 -
2021 Expenses
