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Culture & <br />Recreation <br />31% <br />Public Works <br />15% <br />General Fund Expenditure Uses (excluding interfund transfers) <br />Long -Term General Fund Forecast <br />As in past years, in 2011 we will continue the policy of maintaining a General Fund reserve of at <br />least 15% of current year expenditures. In fact, as stated in the introduction, we expect to <br />maintain a General Fund reserve of $4.6 million or about 34% of current year expenditures. We <br />think this level of reserve is prudent in this uncertain economic environment. <br />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 />• Does not assume passage of Consumer Use Tax, Amendment 60, Amendment 61, or <br />Proposition 101 <br />• Does not include fiscal impacts of ConocoPhillips development <br />• Sales Tax Revenue. -2.5% in 2010, -1.0% in 2011, flat for 2012 through 2013, average <br />+1.5% for 2014 through 2015 <br />• Property Tax Revenue. +4.4% in 2010, -0.1% in 2011, average +1.75% for 2012 <br />through 2015 <br />• Employee Compensation. +2.6% annual average from 2010 through 2015 <br />• Employee Benefits (including FICA, Retirement, Health, and Workers' Comp) +5.9% <br />annual average from 2010 through 2015 <br />• Total General Fund revenues are projected to increase at an average annual rate of <br />about 0.8% from 2010 through 2015 <br />• Total General fund expenditures are projected to increase at an average annual rate of <br />2.8% from 2010 through 2015 <br />19 <br />General <br />Government <br />23% <br />Public Safety <br />31% <br />