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Original 2020 Scenario 1 Scenario 1(A) Scenario 2 Scenario 32020 Change in Sales Tax Revenue‐3.2%‐20.0% ‐20.0% ‐40.0% ‐40.0%2020 Change in Consumer Use Tax Revenue0.0%‐10.0% ‐10.0% ‐20.0% ‐20.0%2020 Change in Auto Use Tax Revenue‐7.0%‐30.0% ‐30.0% ‐50.0% ‐50.0%2020 Change in Construction Use Tax Revenue‐20.5%‐40.0% ‐40.0% ‐50.0% ‐50.0%2020 Change in Lodging Tax Revenue‐7.0%‐50.0% ‐50.0% ‐70.0% ‐70.0%2020 Change in Construction Permits‐11.9%‐40.0% ‐40.0% ‐50.0% ‐50.0%2020 Change in Property Tax Revenue0.0%0.0% 0.0% 0.0% 0.0%2020 Amount Originally Projected2020 Percent EstimatedRevised Estimated Amount Collected VarianceSales Tax8,784,070$ 78% 6,885,928$ (1,898,142)$ Property Tax3,570,640$ 100% 3,570,640$ ‐$ Use Taxes2,544,500$ 92% 2,332,458$ (212,042)$ Franchise Taxes 1,086,930$ 100% 1,086,930$ ‐$ Other Taxes889,440$ 50% 444,720$ (444,720)$ Licenses and Permits1,352,170$ 50% 676,085$ (676,085)$ Intergovermental Reveue 1,429,490$ 90% 1,286,541$ (142,949)$ Micellaneous Reveue249,140$ 75% 186,855$ (62,285)$ 19,906,380$ 16,470,157$ (3,436,223)$ ‐17% Reduction in Projected ReveueSales Tax:Percent of Total Sales Tax January February March April May June July August September October November December12 Month AverageWeighted 12 Month Average Grocery20.4%100% 100% 120% 110% 100% 90% 90% 90% 90% 90% 90% 90% 96.7% 19.7% Food/Beverage17.3%100% 100% 50% 10% 15% 25% 30% 40% 50% 60% 60% 60% 50.0% 8.7% Communications/Utiliities12.4%100% 100% 90% 90% 90% 100% 100% 100% 100% 100% 100% 100% 97.5% 12.1% Services12.7%100% 100% 25% 10% 10% 25% 30% 40% 50% 60% 70% 80% 50.0% 6.4% Building Materials13.1%100% 100% 50% 25% 35% 45% 55% 65% 75% 75% 75% 75% 64.6% 8.5% All Other12.0%100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100.0% 12.0% Merchandise12.1%100% 100% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 91.7% 11.1%100.0%78%Consumer Use Tax100% 100% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 91.7%Auto Use Tax100% 100% 25% 10% 10% 25% 30% 40% 50% 60% 70% 80% 50.0%Building Materials Use Tax100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100.0%Franchise Taxes 100% 100% 50% 10% 20% 30% 40% 50% 50% 50% 50% 50% 50.0%Lodging Tax100% 100% 25% 10% 10% 25% 30% 40% 50% 60% 70% 80% 50.0%Specific Ownership Tax100% 100% 90% 90% 90% 90% 90% 90% 90% 90% 90% 90% 91.7%Estimated 2020 Expenditures20,816,770$ Estimated 2020 Reveunes16,470,157$ Estimated 2020 Revenues less Expenditures(4,346,613)$ Beginning 2020 GF Fund Balance10,808,964$ Estimated Percent of 2020 Expenditure Fund Balance52%Minimum 15% Fund Balance Required3,122,516$ Surplus Fund Balance Over Required 15%7,686,449$ Targeted 20% Fund Balance Required4,163,354$ Surplus Funbd Balance Over Required 20%6,645,610$ 20202021Estimated 2020 Expenditures20,816,770$ 19,775,932$ Percent Reduction in Operating Expenses (Assuming 10% Reduction Starting July 1)5%5% Less: Reductions in Operating Expenditures (1,040,839)$ (988,797)$ Revised Operating Expenses19,775,932$ 18,787,135$ Sources and Uses of Fund Balances:20202021Beginning Fund Balance10,808,964$ 6,447,094$ Less: Drawdown in Fund Balance to Fund Operating Deficit(2,000,000)$ (1,000,000)$ Less: Investment in Economic Vitality Programs(500,000)$ (100,000)$ Less: Transfer to Open Space(849,860)$ (849,860)$ Less: Transfer to Recreation and Senior Center(1,100,000)$ (1,100,000)$ Less: Transfer to Golf Fund100,000$ 50,000$ Less: Transfer to Cemetary Fund(12,010)$ (12,010)$ Add: Turnback (9% of Expenditures)1,779,834$ Ending Fund Balance6,447,094$ 5,215,058$ Fund Balance as Percent of Operating Expenses31%26%DRAFT
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