City Council Agenda and Packet 2023 09 12 SP

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REVENUE PROJECTIONS The following table summarizes the updated revenue estimates and assumptions for 2023 through 2028 that have been incorporated into the 2024 Operating & Capital Budget and 2023-2028 Long -Term Financial Plan. All projections for construction -related revenue are based on forecasts by the Planning & Building Department. Construction -related revenue includes Use Tax on Building Materials, Construction Permits, Impact Fees, and Utility Tap Fees. All projections for revenue generated at the Recreation Center and Golf Course are based on forecasts by the Parks & Recreation Department. Golf Course User Fees include a consolidation of green fees, annual season passes, golf cart rentals, driving range fees, pro shop merchandise sales, daily rentals, golf lesson fees, club repair fees, and handicap fees. Projections for Solid Waste & Recycling Fees and Utility User Fees are based on forecasts by the Public Works Department. All remainina Droiections are based on the Finance Deaartment's forecasts usina trend analvsis. Regional Consumer Price Index 3.4% 2.7% 1.9% 2.0% 3.5% 7.7% 4.4% 3.5% 3.3% 3.0% 3.0% 3.0% Average Rate of Return 1.1% 1.7% 2.1% 1.4% 0.4% 1.0% 1.8% 2.3% 2.8% 3.0% 3.3% 3.5% Taxes; Sales Tax 13.2% 5.3% 11.3% -9.4% 16.3% 9.1 % 10.3% 5.7% 3.5% 3.5% 3.5% 3.5% Property Tax 1.8% 53.5% -9.0 % 7.5% 1.1% 8.5% -5.0% 5.1 % 34.7% 5.0% 2.4% 3.5% UseTax- Consumer -97% 12.9% 5.2% -16.4% 28.0% 25.0% -1.0% 19.3% 5.0% 5.0% 5.0% 5.0% Use Tax - Auto 9.7% 36.5% -14.6% -12.5% 19.0% 5.3% 7.2% -19.4% 3.5% 3.5% 3.5% 3.5% UseTax -Building tlaterials 5.9% 24.6% 5.1% -16.4% 43.3% -1.2% -57.31A 45.2% 0.9% -5.0% 6.3% -1.5% Fran ch is& Taxes 2.0% -0.4% -1.9% -4.1% 12.4% 6.0% -9.0% -0.9% 2.4% 1.4% 1.4% 1.4% Lodging Tax 3.3% 5.6% -3.&% 59.9% 48.3% 8.8% 26.9% 7.9% 10.0% 7.5% 5.0% 5.0% Licenses & Permits; Sales & UseTax Licenses 16.9% 1.1% 20.0% 1.0% 4.7% -78.9% 69.4% -67.6% 3.0% 3.0% 3.0% 3.0% Construction Permits -32.5% -37.2% 40.0% -15.3% 47.i% 119.9% -54.91% -213.7% -0.4% -3.1% 56.0% -1.5% tdinar Building -Related Permits 54.2% 657.6% -57.8% 52.2% -14.2% 95.2% -56.7% -211.8% 3.0% 3.0% 3.0% 3.0% Intergovernmental Revenue; Highv;ayUsera -ax 0.9% 23.9% -4.1% -25.6% 19.9% -7.1% 0.5% 4.3% 1.0% 1.0% 1.0% 1.0% State Lottery -10.3% -0.7% 26.9% -13.31A 15.5% 7.2% -1.9% -6.4% 3.0% 3.0% 2.0% 2.0% I.1arip anaTax 25.1% 5.4% 3.4% 27.3% 26.5% -1.1% 27.9% -21.9% 5.0% 5.0% 5.0% 5.0% IGA- SuperiorLibrary 0.9% 10.3% 1.1% 7.8% -0.9% 14.4% -6.0% 5.6% 3.0% 5.0% 2.5% 3.5% Charges for Services; 'Nater User Fees -B.6% 9.7% -12.6% 20.6% 5.0% -1.5% -3.1% 3.1% 0.5% 1.0% 0.0% 0.2% 'Nater Tap Fees 54*a% -64.6% 73.2% -24.7% 37.7% -35.7% 40.7% 56.0% 90.4% -30.0% 16.9% -6.6% 'Nastewater User Fees 12.2% 6.4% 3.0% 10.4946 3.6% -12.1% 6.3% 22.6% 8.5% 6.3% 4.0% 4.0% 'Na stew ater Tap Fees -0.5% 50.3% 53.3% -1.0% -31.9% -14.4% 98.5% -29.9% 22.7% -39.5% 27.4% -9.8% Storm Water User Fees 5.2% 6.8% 17.3% 7.2% 3.8% -6.2% 6.1 % 12.8% 12.3% 13.1 % 12.0% 12.1 % Solid Waste User Fees 4.3% 3.3% 1.5% -3.1% 5.8% 4.6% 5.2% 5.2% 4.4% 3.5% 3.5% 3.5% Recreation Center Fees -0.9% 5.3% 67.3% 53.4% 55.9% 21.6% -7.7% 13.6% 3.0% 2.8% 2.8% 2.8% Golf Course User Fees 3.0% 4.1% 0.3% 20.0% 19.4% 3.3% 6.9% -1.5% 2.2% 0.2% 2.3% 0.2% Developer Impact Fees -60.1 % 15.9% - 4.9% 57.7% 55.7 % 83.0% -29.1 % -10.9% 9.7% -36.0% 71.8% -10.3% Fines & Forfeitures; Court Fines -1.2% -14.6% -9.4% -33.6% -19.1% -23.4% 11.7% 1.7% 0.0% 0.0% 0.0% 0.0% 2024 Recommended Budget Transmittal 5