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EXHIBIT 4 <br /> Receive and file the FY 2021-2022 General Fund - First Quarter Budget Update <br /> December 21, 2021 <br /> Page 5 <br /> FY21-22 Sales Tax (Bradley-Burns and Measure X): Moving forward, the sales tax <br /> consultant increased the FY21-22 revenue estimates as follows. <br /> FY21-22 Original I FY21-22 Revised Increase <br /> Bradley-Burns $53,650,000 $57,600,000 $3,950,000 <br /> Measure X 65,000,000 77,250,000 12,250,000 <br /> Total $118,650,000 $134,850,000 $16,200,000 <br /> A quarterly report on Sales Tax and Business Activity is provided in Exhibit 3. <br /> QuafterijurSaleSaTrax Revern u e <br /> S131.3 $34.1 <br /> $32.6 <br /> (in Million <br /> $32.1 <br /> $29.5 $29.6 $30.2 <br /> $28.4 <br /> �$26, $25.5 <br /> $12.6 <br /> Property Tax, Property Tax in lieu of VLF& Santa Ana Residual Property Tax: Total <br /> Property Tax collected for the first quarter is $0.7 million. Approximately two-thirds of <br /> Property Tax is collected during the months of December and April. Furthermore, the first <br /> payment (50%) of Property Tax in lieu of VLF is received in January and the second <br /> payment in May. Based on assessed value information available from the county after <br /> adoption of the City's budget, the City's property tax consultant has provided an updated <br /> revenue estimate that is $380,000 more than the estimate included in the budget. <br /> Hotel Visitors' Tax (HVT): HVT collected for the first quarter is approximately $1.5 <br /> million, which is nearly double the amount of the prior year's first quarter results of $0.8 <br /> million, but still $0.6 million below pre-pandemic levels in the same quarter of FY 19-20. <br /> The global pandemic has continued to affect hotels' ability to accommodate guest <br /> services such as banquets, conferences and other meeting events; however, there are <br /> signs for recovery. Staff expects HVT will increase after the pandemic; and after new <br /> City Council 30 — 25 1/18/2022 <br />