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SUBJECT: 2018 RECOMMENDED BUDGET AND 2018-2021 LONG-TERM PLAN <br />DATE: SEPTEMBER 26, 2017 <br />PAGE 21 OF 24 <br />9.1300,01:11 <br />8,000,000 <br />7,000,000 <br />6,000.000 <br />5,400,040 <br />4,000,000 <br />3,00000.000 <br />2.000.0(14 <br />1,000,000 <br />Open Space & Parks Fund <br />=II 11 <br />1 E 0 1 1 <br />2005 21)06 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 <br />Revenue — Expenditures MN= Fund Balance —Minimum <br />Alternative Scenario 2: Change in General Fund Mil Levy <br />In the second alternative scenario, the 2017 General Fund mil levy has been reduced to <br />equal a 5.7% growth in property tax revenue for 2018. This percentage is roughly the <br />amount of operational expenditure growth in the General Fund from the 2017 estimate <br />to the 2018 recommended budget. <br />This adjustment results in the 2017 General Fund Mil Levy being reduced from 5.184 to <br />4.610, which results in $366,000 of less property tax revenue in 2018. Carrying the <br />4.61 mil levy forward through 2021 results in $1.5 million of less property tax revenue <br />from 2018 through 2021. The impacts to the General Fund can be seen in the following <br />chart. <br />CITY COUNCIL COMMUNICATION <br />22 <br />