2010 BUDGET - Laserfiche WebLink

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Overview The 2010 budget includes a total revenue projection (excluding interfund transfers) of $29.2 million for all funds. This is a decrease of 8.6% over the estimated revenue for 2009. We project net property tax revenue to increase by 4.7%, from $2.9 million in 2009 to $3.0 million in 2010. As a result of the economic downturn, City staff expects sales and use tax revenue to decline by 7% in 2009 and an additional 2% in 2010. Factoring in the elimination of the vendor fee, net sales tax revenue is expected to decline by only 0.7% in 2010. The 2010 budget includes a 1% increase in water rates, no increase in wastewater rates, and a 25-cent per month increase in storm water rates. These projected changes in revenue will be discussed in more detail below. The 2010 budget includes total expenditures (excluding interfund transfers) of $31.2 million. Included in this amount is $22.5 million for administration and operations, $3.0 million for debt service, and $5.5 million for capital outlay. Total appropriations for all funds, including interfund transfers, are $32.2 million. Significant Issues The 2010 budget reflects hundreds of changes to reduce expenditures, increase revenues and improve efficiency. Among the more significant changes and service reductions are those listed below. Because of the significant shortfall in revenue for 2009, some of these actions have already been implemented in 2009 and their impact will continue through 2010. Eliminating positions, not filling some vacancies, and reducing hours We have carefully evaluated all operations and have implemented the changes listed below. We believe these actions will reduce expenditures significantly with the least impact on program effectiveness. These changes will result in annual savings of $232,000. Eliminating the Aquatics Facility Operator position and shifting the responsibilities of that position to the other Recreation Center staff. Annual Savings: $65,000 î