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PAGE FIVE <br />SUBJECT: OPTIONS FOR REDUCING THE GAP BETWEEN GENERAL FUND <br />REVENUES AND EXPENDITURES <br />DATE: AUGUST 11, 2009 <br />16, 000, 000 <br />14, 000, 000 <br />12,000,000 <br />10, 000, 000 <br />8,000,000 <br />6.000, 000 <br />4,000, 000 <br />2.000, 000 <br />Illustration C <br />General Fund Forecast <br />If All Priority A and B Recommendations are Implemented <br />One -Time Grants <br />Transfers <br />Post Office Acquisition <br />10 1 10 '1 9 1 9 ,10 ,19 ,10 9' 19 1 1 0 r1 0 1 0 9 ,LO <br />Revenue <br />Expenditures <br />Fund Balance <br />M Inimum <br />FISCAL IMPACT: <br />Implementing all the Priority A actions would reduce the General Fund shortfall by just over <br />$300,000 in 2009 (assuming September 1, 2009 implementation) and just under $800,000 <br />for the full year of 2010. The combined impact of implementing the Priority A and B items <br />would reduce the General Fund shortfall by about $1.5 million annually in 2011 and <br />subsequent years and enable the City to maintain an adequate reserve through 2015. These <br />figures do not include additional revenue if voters approved a residential building use and /or <br />consumer use taxes. <br />RECOMMENDATION: <br />Discussion Only. Staff will address questions during the study session and then present <br />these recommendations for action during the Council's regular meeting on August 18` <br />ATTACHMENT(S): <br />1. Staff Recommendations for Reducing the Gap Between Revenues and Expenditures <br />