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The graph below illustrates the long-term financial forecast for the General Fund. This forecast <br />is part of the City’s Long-Term Financial Plan and includes the following assumptions: <br /> Sales tax revenue will drop a total of 7.0% in 2009 and continue to decline at a rate of <br />2.0% in 2010, then another 1.0% in 2011, before gradually increasing in 2013. <br /> Property tax revenue is projected to increase by 4.5% in 2010 and then increase at an <br />average annual rate of 2.7% through 2014. In 2015, property tax revenue is projected to <br />increase significantly due to the ConocoPhillips development. <br /> By eliminating or not filling certain vacant positions, permanently reducing the hours <br />worked of several positions, and making other policy changes, total salaries and wages <br />are budgeted to increase in 2010 by only 1.8% over the 2009 estimate (which includes <br />significant vacancy savings). In 2011 through 2015 total salaries and wages are <br />targeted to increase by an average annual rate of 2.2%. <br /> Because of changes in medical plan design and increasing the percentage of premium <br />that employees pay, the City’s cost for employee health care benefits in 2010 will <br />decrease by 4.1%. This will save approximately $37,000 in the General Fund and <br />$54,000 for all funds. <br />Conservation Trust Fund <br /> Revenue is projected to decline from $1.7 million in 2009 to $1.3 million in 2010. <br /> Operating and capital expenditures will decrease from $1.5 million in 2009 to $1.3 million in <br />2010 including $1,033,000 for operations and $312,700 for capital projects. No specific land <br />acquisitions are planned for 2010. However, reserve funding available for this purpose will <br />be carried over to subsequent years for future high priority land acquisitions. <br /> By balancing operating and capital expenses with revenues, the reserves within the <br />Conservation Trust Fund are expected to remain over $5 million through 2015. <br /> The graph below illustrates the long-term financial forecast for the Conservation Trust – <br />Land Acquisition Fund. This forecast is part of the City’s Long-Term Financial Plan and <br />includes the same assumptions as the General Fund for sales tax revenue, salaries and <br />wages, and employee benefits. <br />ê <br />