Will have transfer tax above what we projected in the report on what we see in the current month to date. Under our reserve provisions, 75 of that goes, is deposited to reserves. There are other offsetting revenues that we would also want to be mindful of. Im trying to think of theres a few that kind of, i have my eye on. One is sales tax, one is interest earnings, kind of like a sleeper revenue, but we assumed pretty substantial growth in that, so i dont know where we are going to end the year with that. So, possible news to the good thats easy to know about, and mindful of things that go the other direction. Thank you. The shortest possible answer as always, we do a review of revenue assumptions, the change in may after the revenues that we use to balance, or proposed the balance the mayors budget and a report the next couple of weeks. Thats those additional revenues are in consideration for this budgeting of this fiscal year, is that correct . We are in the process of reviewing what
Year, but what we had as of june 1st. We also reported briefly on the discretionnary general fund. So, the citywide General Fund Budget is increasing by 10. 5 , from 5. 5 billion in the current year to 6. 1 billion in the proposed fiscal year 201920 budget, and after set asides and base lines, 3. 6 billion in discretionary general Fund Revenues in 1920. We also briefly reported on budgetary reserves as you have also heard from the controllers office. These reserves include the rainy day reserve, the general reserve and the budget stablization reserve. According to the majors budget book, 459 million at the end of 1718, 9. 2 of general Fund Revenues, and projected to reach target levels of 10 of revenues during the current year. We also reported briefly on the impact of the november 2018 ballot propositions. Programs in the department of homelessness and Supportive Housing to be funded by proposition c, impose a half percent gross receipts tax on businesses with revenues above 50 millio
Between the u. S. And iran fail over nuclear weapons. Overall, a busy week over earnings and yellens confirmation hearings later in the week. The markets potentially taking a breather after the dow hit a new high friday, both it and the s p closed down a fifth consecutive week of gains. Volatile after Irans Nuclear program stumbled. Amazon strikes deal with the u. S. Postal service to deliver some packages on sunday, while the chinese rival ali baba wraps up 3 billion in one day. Transocean has a proxy battle. Well talk about that. We begin with the dow coming off another record high t. Blue chips up 4. 5 , marking five consecutive weengs of gains. Following one of the papers today, the front of the journal arguing the Retail Investor is somehow back. Stocks regain broad appeal, mom and pop, are they finding the markets again . My favorite subhead on that is, if you go on the web, you will see, its bad. I love it. It says, they used cause for concern in the newspaper version, but in th