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City Council Budget Retreat <br />Meeting Minutes <br />June 27, 2013 <br />Page 3 of 13 <br />CAPITAL PROJECTS FUND 2012 REVIEW <br /> Fund Balance at 12/31/12 = $6,822,000 <br /> Fund Balance increased by $3,720,000 (120%) <br /> Revenue exceeded budget by $432,000 <br /> Expenditure turnback - $2,215,000 (33%) <br /> Budget amendment for carry-forward of capital projects to 2013 = $357,000 <br />COMBINED UTILITY FUND 2012 REVIEW <br /> Working Capital at 12/31/12 = $17,262,000 <br /> Working Capital increased $3,951,000 (30%) <br /> Revenue exceeded budget by $3,382,000 <br /> Expenditure turnback = $2,099,000 (20%) <br /> Budget amendment for carry-forward of capital projects to 2013 = $ 223,000 <br />SUMMARY OF REVENUE ASSUMPTIONS <br />Sales Tax and Consumer Use Tax - Staff projects a cautious approach for sales tax <br />projections. Council supported a conservative approach. <br />Building Construction Permits- Building revenue projections haveincreased, but are <br />projected to fluctuate after 2014. Building fees are one-time revenue. Staff is <br />addressing the General Fability to continue to fund operating costs without the <br />reliance of building fees by transferring a portion of construction permit fees to the <br />Capital Improvement Project Fund.The Delo project, the Arnold property, Safeway <br />redevelopment and the North End project, along with several other large projects, will <br />generate a significant amount of building fees.(The DELO Project will add 136 units by <br />2015.) <br />Large revenue sources such as Sales Tax, Use Tax, Charges for Services, Impact <br />Fees, Wastewater and Water Tap Fees will fluctuate. It was noted redevelopment <br />projects will not necessarily require new water taps. <br />Property Taxes are projected to increase 1.2 % in 2013 and 3.85% in 2018 based on <br />. <br />Recreation Center Fees are projected to decrease in 2014 and 2015, increase in 2016 <br />and 2017 and remain flat in 2018. New programs will be added; some programs will be <br />at the end of their life cycle and others will remain status quo. Recreation Fees are the <br />consolidation of many different fees, including swimming lessons, daily fees and <br />membership fees. <br /> <br />21 <br />