Page 114 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 2 Financial Analysis
Long Term Forecast Assumptions

DEBT SERVICE FUNDS

Total revenues and other sources increased $ 15K ( 1%)
o Property tax increased $ 21K
o Transfers in decreased $ 6K
Total expenditures and other uses increased by $3K

CAPITAL PROJECT FUND

Based on adopted CIP

FORECAST ASSUMPTIONS

FY 19-20 THROUGH FY 22-23

GENERAL FUND:

REVENUES AND OTHER SOURCES
Sales & Use Tax Revenue
o Annual increase of 2% to base sales and use tax thru 2023
o Commercial construction; Phase I added in 2020 thru 2023
o Commercial construction; Phase II added in 2021 thru 2023
o Commercial construction; added in 2021 thru 2023

Property Tax Revenue
o Annual increase of 2% thru year 2023
o Anticipated rate increase to property tax from year 19/ 20 thru year 22/ 23
o Estimate value on the roll two years from date of permit for new construction–
separate line-item on forecast
o Fidelity Abatement ends FY19/ 20
o Deloitte Abatement ends FY21/ 22
o Economic development revenues and abatements added in 2020 forward

Building permits/ inspection/ plan review fees
o Based on estimated schedule of annual permits for commercial and residential
growth shown separately

Franchise Fees increase annually by 1%

Fines and Forfeitures increase annually 1/ 2%

All other revenues – are increased 1% to 2.5% annually based on analysis

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