Agenda Packets - 1994/08/08 - Laserfiche WebLink

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M. LONG TERM REVENUE & EXPENDITURE PROJECTIONS Five year revenue and expenditure projections have been prepared to show the impact of the adoption of all of the public service programs presented for the years 1995 - 1999. As with any long term projections, certain assumptions were made regarding the growth of revenues, expenditures, and the City's tax base. The accuracy of the projections contained herein are dependant upon the accuracy of the assumptions made. As a consequence, readers of this document should consider these projections as best estimates of revenues and expenditures. Actual revenues and expenditures are approved by the Council annually during the budget process. The exhibit entitled "Revenue Assumptions" lists the City's General Fund revenues by source. The two major sources of City revenues are property taxes and intergovernmental revenues. For 1995 these two sources represent 44.3% and 32.2% of total General Fund revenues. The column labeled "Assump % Increase" lists the annual growth rates for various sources of revenues that were used in developing revenue projections. The exhibit entitled "Revenue Projections" lists budgeted revenues for 1994, proposed budgeted revenues for 1995 and projected revenues for 1996 - 1999. Proposed budgeted revenues 1995 was the base year for the 1996 - 1999 projections. "Tax Increase - Intl" shows the increased property taxes necessary to support the level of services provided for in the proposed 1995 budget assuming an inflation rate of 3% for the years 1996 - 1999. The exhibit entitled "Expenditure Assumptions" presents the City's General Fund expenditures by expenditure type. The two major expenditure types of the City are personnel services and contractual services. For 1995 those two expenditure types represent 61.6% and 20.3% of the City's General Fund expenditures. The expenditure projections assume a 3% rate of inflation for the years 1996 - 1999. The exhibit entitled " Expenditure Projections" presents the City's 1994 budgeted expenditures, 1995 proposed budgeted expenditures, and projected revenues for the years 1996 - 1999. Proposed budgeted 1995 expenditures was the base year for the 1996 - 1999 projections. The impact of new programs contained in the public service portion of the Long Term Financial Plan are presented in the exhibit entitled "Revenue & Expenditure Projections". New programs and their cost are listed for each year. These new programs directly impact property taxes. The amount of property taxes to support these programs is listed as "Tax Increase - New Prog." The impact upon the City's property tax levy of proposed public services contained in the Long Term Financial Plan is presented in the exhibit entitled "Estimated Tax Levy." The City's tax capacity values are listed for the years 1995 - 1999. Two separate values are presented; Fiscal Disparities, which is the City's share of a portion of metro wide 54