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HomeMy WebLinkAbout03/30/2010 Council Presentation - FY 2011 General Fund Revenue Projection1 ~ gRIZO!'aa FY 2011 Genera I Fund Revenue Projection '~ Erik Montague, CPA Finance Director Tuesday, March 30, 2010 Overview - Focus on General Fund -Current year variances - Big three revenues -0verall revenue summary - Questi©ns 2 1 Current Year Revenue - FY2010 - 92% of revenues are Revenue Projected Over/(Under) ^ T i P i il ransact on r v ege Taxes (TPT) TPT $(1.8)M ^ State Shared Revenue State Shared $(0.1)M ^ License, Permits & Fees License, Permits $0.4M & Fees - All highly dependent on All others $(0.6)M the economy Total $(2.1)M - Some revenues show signs of stabilization... others do not. 3 Current Year Expenditures - FY2010 Projected Expenditure Over/(Under) - Vacancy management Personnel & $(1.1)M Benefits Costs Contracted $(0.8)M Sdrvices ~ Commodities $(0.7)M Capital Outlay $(0.3)M W Transfers $(0.5)M Sub-total' f $(3.4)M alese~ve savings $1.3M Total $(2.1)M - Reduced outside SerVIC2S - Vehicle replacement reductions - Reduced impact on reSelVeS 2 Transaction Privilege Taxes (TPT) $22 $21 :... $20.8 -, $20 ;1a ; $1s ,i~'' $1a 'L $,7 li .. $1F „~ , s, s .,~ , r°; 2006-07 2007-08 2008-09 2009-10 2010-11 i Estimated Budgeted - Change froth. FY2010 budget -b8% or $1.6M Contracting:=-1544% or $1.6M todglrtg - 1126% or $0.5M • Utilities - 4 7% or $0.2M Retail - 4 2% or $0.2M All others - 4 2% or $O.1M - Assumes continued allocation of additional 1% contracting taxes Shared Revenues $9 $6 $7 $6 $6 $4 $3 $2 $7,5 $7 4 e _ _~ ~Y. 1 .... i~ it +,i ,a. = 2006-07 2007-08 2008-09 2009-10 201411 Estimated Budgeted - Change from FY2010 budget -a 15% or $1.OM __ Shared' ales tax - a6% or $O.lOM • Urban revenue - b25% or $0.85M i - Assumes no additional changes in distributions 6 3 Licenses, Fees & Permits $6 - $5 34.9 $4 $3 $1 L__ ,_. F~- .;a .. 200607 2007-08 2008-09 2009-10 2010-11 Budget Estimate ``~, - Change from FY2010 budget -43% or $0.1M ~_ - Single family; • FY201(1''= 75 budgeted; actual X205 ^ FY201'1 - 200 budgeted ~r,::=In=I IgY2011 -Limited commercial development 7 Revenue Summary FY2008-2009 FY2009-2010 FY2010-2011* $ 34,315,268 $ 31,848,395 $ 28,836,034 $ Change $ (2,466,873) $ (3,012,361) Change -7.2% -10.4% Projected revenue subject to change as a result of changes to fee structures and service levels during the FY2011. fafocess. e 4 Possible Impacts on Projections - Fee changes (pending Council approval) ^ Immaterial impact to revenues - Service level changes (pending Council approval) ^ Manager's proposed balanced budget State shared revenues • League o provide final estimates 9 Questions? ,o 5