Page 45 - CityofWataugaAdoptedBudgetFY24

MULTI-YEAR FINANCIAL FORECAST

General Fund
Five Year Plan Revenue and Expenditure Assumptions

Revenue Source Assumptions

Property Taxes Projections are based on 3.5 % capped revenue increase due
to legislative changes.
Penalties & Interest Remain Flat
Sales Tax Based on 2% increase with additional revenue for new
development
Franchise Fees Remain Flat – slight increase due to solid waste franchise fee
increases
Fines & Fees Projected 3% increase due to increased staffing after 2024 .
Licenses & Permits Projected a 2% increase over next few years due to
redevelopment and increase in fees
Interest Income Projected interest rates increase through 2024 to decline in
2025 and beyond
Charges for Services Project increase of 3% average growth due to program
increases and fee increases
Transfers Based on 5% of revenue from the utility operation, 2% Crime
Control District and 5% Parks Development Corporation.
Miscellaneous Projected average growth of 3%.
Expenditure Assumptions

Departmental expenditures Projections are based on a 2% increase per year except for
the non-departmental category where estimated medical
benefits and salary increases are reflected. An average of 3%
of salary increases and 10% medical increase per year is
projected.

Non-Departmental Category Includes estimated salary and benefit increases based on
historical trends as outlined above.
Transfers to capital Based on anticipated engineering needs in the Capital
projects funds

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