2007-08 2nd Quarter Status Report - City Of Beverly Hills

• Urban Design (streetscape enhancements for Canon, Beverly, Rodeo, Brightonand Dayton) – 100% complete• Santa Monica Boulevard Corridor, design development and traffic study – 100%complete• Street resurfacing – 95% complete• Smart City Master Plan – 50% complete• Greystone Park infrastructure improvements – 70% complete• Security system upgrade bid documents – 95% complete• Civic Center Plaza improvements – 99% complete• City Hall Master Project – 45% complete• Radio infrastructure improvements – 98% completeQuarterly Financial ReportThis section of the second-quarter report provides a look at how General Fund revenuesand expenditures are tracking midway through the fiscal year. Significant indicatorsinclude:• 3 rd Quarter 2007 Sales Taxes are 6.4% higher than 3 rd Quarter 2006• 2 nd Quarter 2008 Transient Occupancy Taxes are at a historical high• Property taxes will include the Robinson/May (9400 Wilshire) sales transaction• Total revenues are projected to be $164.9 million at year end• Current expenditures represent 44% of the current budget, compared to prior yearaverages of 53%• Total expenditures are projected to be $163.6 million at year endAs we enter the halfway pointin the fiscal calendar, a reviewof work completed or inprogress clearly shows that theCity has made great strides onhundreds of initiativesdesigned to promote thequality of life and economicviability of Beverly Hills. Thissummary provides only asnapshot of our efforts duringthe last three months. For moreI - 8FY 2007/08 2nd Quarter