The Burlingame City Council adopted the City’s FY 2008-2009 Annual Budget and Capital Improvements Program on June 16, 2008. The new budget takes effect July 1, 2008, and ends on June 30, 2009. The total adopted budget for FY 2007-2008 is $87,035,093. General Fund expenditures are $41 million or 47% of the entire budget.
The new budget projects General Fund revenue growth of 3% for total annual collections of $44.25 million. Of this amount, 67% or $29.4 million will come from businesses.

The Transient Occupancy Tax is the largest revenue source generated by local businesses. There are a total of 3,773 hotel rooms within the City of Burlingame. The City’s ten-percent tax on room rentals is expected to generate $11.5 million in the new fiscal year. Sales and Use Tax is the second largest revenue source generated by Burlingame businesses. It is expected to produce $9.9 million in FY09. Burlingame businesses also account for roughly half of the city’s property tax receipts. This amount totals $6.2 million in the new budget.
Business license taxes on all businesses operating in Burlingame and franchise taxes on local companies that provide solid waste, electricity, natural gas and cable television are next in line. They account for an estimated $ 1.6 million of the City’s revenue. Business license taxes total $685,000 and franchise taxes total $951,857. Finally, the private golf center lease produces $90,000.
As you can see, business is an integral element of the City’s finances. For more information on the City of Burlingame’s budget, contact Jesus Nava, Finance Director/Treasurer, at 650-558-7222.

|