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SUBJECT:
<br />2020 RECOMMENDED BUDGET
<br />DATE:
<br />SEPTEMBER 24, 2019
<br />PAGE2OF9
<br />The following table summarizes the updated revenue assumptions for 2019 through 2024.
<br />Revenue Category
<br />Regional Consumer Price Index
<br />Taxes:
<br />Sales Tax
<br />Property Tax
<br />Use Tax - Consumer
<br />Use Tax - Auto
<br />Use Tax - Building Materials
<br />Franchise Taxes
<br />Lodging Tax
<br />Specific Ownership Tax
<br />Licenses & Permits:
<br />Construction Permits
<br />Minor Building -Related Permits
<br />Intergovernmental Revenue:
<br />Highway Users Tax
<br />State Lottery
<br />Marijuana Tax
<br />Charges for Services:
<br />Water User Fees
<br />Water Tap Fees
<br />Wastewater User Fees
<br />Wastewater Tap Fees
<br />Storm Water User Fees
<br />Solid Waste User Fees
<br />Recreation Center Fees
<br />Golf Course User Fees
<br />Developer Impact Fees
<br />Fines & Forfeitures:
<br />Court Fines
<br />Summary of Revenue Assumptions for Major Revenue Sources
<br />2019, - 2024
<br />2619
<br />Estimate
<br />2620 2{121 2022 2023 2024
<br />Budget Projection Projection Projection Projection
<br />16,475,160
<br />5,045,230
<br />2,260,850
<br />1,726,970
<br />2,335,6E0
<br />1,042,230
<br />425,270
<br />273,540
<br />15,931,480
<br />5,464,790
<br />2,260.3E0
<br />1,60E 080
<br />1,856.190
<br />1,070,460
<br />395,500
<br />259,040
<br />16,170,450
<br />5,512,630
<br />2,260,850
<br />1,573,960
<br />1,468,210
<br />1,090,250
<br />375,730
<br />253,364
<br />16,493,360
<br />5,779,440
<br />2,260,850
<br />1,605,430
<br />1,343,210
<br />1,111,000
<br />364,460
<br />258,940
<br />16,906,210
<br />5,339,170
<br />2,260,350
<br />1,645, 560
<br />956,060
<br />1,142,930
<br />364,820
<br />265,410
<br />17,413,390
<br />6,295,270
<br />2,260,850
<br />1,694,930
<br />892,794
<br />1,175,350
<br />364,430
<br />273,374
<br />1,032,280 949,724 739,730 747,300 605,820 577,900
<br />475,000 163,210 166,470 169,800 173,200 176,660
<br />780,090
<br />228,760
<br />136,830
<br />5,669,330
<br />2,508,000
<br />3,510,040
<br />233,560
<br />337,330
<br />1,668,120
<br />2,871,820
<br />1,642,340
<br />553,340
<br />651,990
<br />223,760
<br />133,244
<br />5,774,634
<br />2,585,600
<br />3,750, 030
<br />400,720
<br />1,0010380
<br />1,528,300
<br />3,050,340
<br />1,690,704
<br />630,120
<br />658,510
<br />223,760
<br />140,270
<br />5,905,770
<br />733,590
<br />3,932,560
<br />110,140
<br />1,094,750
<br />1,559,230
<br />3,140,210
<br />1,740, 520
<br />163,590
<br />665,100
<br />228,760
<br />143,080
<br />6,026,270
<br />517,104
<br />4,103,920
<br />65,240
<br />1,143, 060
<br />1,585,570
<br />3,232,750
<br />1,791,840
<br />220,310
<br />671,750
<br />223,760
<br />145,940
<br />673,470
<br />223,760
<br />148,360
<br />6,137,120 6,248,980
<br />183,000
<br />4,256,520 4,394,510
<br />27,600 -
<br />1,182,210 1,213,250
<br />1,617, 540 1,656, 656
<br />3,323,100 3,426,296
<br />10344,690 10899,154
<br />48,274 -
<br />11?.2EC 112.2EC 112.2EC 11'.2EC 11?.2:C 113.280
<br />Percent of Change
<br />2019 2020 2021 2022 2023 2024
<br />2.50% 2.00% 2.00% 2.25% 2.50% 2.75%
<br />7.1%
<br />- 9.3%
<br />20.0%
<br />-15.0%
<br />2.3
<br />- 3.0%
<br />-10.0%
<br />- 10.0%
<br />- 3.3%
<br />3.3%
<br />0.0%
<br />- 7.0%
<br />-20.5%
<br />2.7%
<br />- 7.0%
<br />- 7.0%
<br />1.5%
<br />0.9%
<br />0.0%
<br />- 2.0%
<br />- 20.9%
<br />1.8%
<br />- 5.0%
<br />- 2.0%
<br />2.0%
<br />4.8%
<br />0.0%
<br />2.0%
<br />- 8.5%
<br />1.9%
<br />- 3.0%
<br />2.0%
<br />2.5%
<br />1.9%
<br />0.0%
<br />2.5%
<br />- 28.8%
<br />2.9%
<br />-1.0%
<br />2.5%
<br />3.0%
<br />6.9%
<br />0.0%
<br />3.0%
<br />-6.6%
<br />2.9%
<br />1.0%
<br />3.0%
<br />SS.B I -11.9% -13.2% -5.4% -18.9% --4.6%
<br />-66.3% -65.6% 2.0% 2.0% 2.0% 2.0%
<br />- 0.5% -16.4% 1.0% 1.0% 1.0%
<br />15.0% OE 101 0.0% 0.0%
<br />4.4% 1.41 1.5% 2.0% 2.0%
<br />- 11.6%
<br />52.2%
<br />- 2.0%
<br />75.7%
<br />7.4%
<br />- 0.7%
<br />61.9%
<br />2.3%
<br />- 21.2%
<br />1.81
<br />3.1%
<br />6.3%
<br />41.3%
<br />19.7%
<br />- 8.4%
<br />6.2%
<br />2.9%
<br />13.91
<br />2.3%
<br />- 71.4%
<br />4.9%
<br />- 72.5%
<br />9.3%
<br />2.0%
<br />2.9%
<br />2.9%
<br />- 74.0%
<br />2.0%
<br />- 30.0%
<br />4.4%
<br />- 40.8%
<br />4.4%
<br />1.7%
<br />2.9%
<br />2.9%
<br />34.7%
<br />1.8%
<br />- 6.4.6%
<br />3.7%
<br />- 57.7%
<br />3.4%
<br />2.0%
<br />2.9%
<br />2.9%
<br />-78.1 %
<br />1.0%
<br />0.0%
<br />2.0%
<br />1.3%
<br />- 100.0%
<br />3.2%
<br />- 100.0%
<br />3.0%
<br />2.0%
<br />3.0%
<br />3.0%
<br />- 100.0%
<br />20 0% 0 0% 0.0% 0.0% 0.0% 0.0%
<br />The following graphs summarize the latest fund forecasts for the major operating and
<br />capital funds. Since the September 3 budget presentation, staff has made the following
<br />changes:
<br />• Added $75,000 to the General Fund in 2020 to update the Fiscal Impact Model;
<br />• Added $28,000 per year (2020 - 2024) to the General Fund to meet the City's
<br />renewable energy goal to reach 100% carbon -free, utilizing Xcel's Windsource
<br />program;
<br />• Removed the transfers from the General Fund to the Capital Projects Fund for
<br />2020 ($1,000,000) and 2022 ($750,000); and
<br />• Updated the sales tax revenue projections.
<br />Staff has included the above in the budget to show the appropriate impacts to Funds, but
<br />would like verification that these items should be included/finalized in the 2020 budget.
<br />CITY COUNCIL COMMUNICATION
<br />12
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