CC Minutes 04/25/2011 Workshop - Laserfiche WebLink

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FY 2011/12 Budget Assumptions OTHER REVENUE SOURCES Other revenue sources reflect a decrease of 53.72% over the five year period and represent only 5.29% of the total of all revenue sources. The 4 major sources of revenue in this category include: Fines & Forfeitures — Fees collected by the State Court System. These fees include court fines, traffic fines, and fines associated with late payment or non payment of utility bills. Miscellaneous Revenues — which include investment income and other miscellaneous sources. Business Taxes — Taxes assessed on the businesses within the City for occupational license. Business taxes reflect slight recovery and actual revenues depict a slight increase over budgeted amounts for FY 2009/10. The forecast assumes growth based on the actual remittances for FY 2009/10 of 1% and increasing to 2% thereafter. Grants — A contribution of assets (usually cash) by one governmental unit or other organization to another made for a specified purpose. Economy driven sources include both miscellaneous revenues and business taxes. Whilst grants represent a one-time occurrence revenue source and fines and forfeitures are dependent on a legal event. Given the overall nuances to these revenue sources, the forecast conservatively assumes a 1% increase for FY 2011/12 thru 2012/13 and a 2% growth thereafter. EXPENDITURES: PERSONAL SERVICES EXPENDITURES A 1% salary adjustment is forecast for FY 2011/12 and 2012/13 and 2% thereafter to subsidize personnel pay adjustments as well as growth associated with retirement plans, group insurance and workers compensation funding. OPERATING EXPENDITURES Operating expenditures are projected flat in FY 2011/12 with a 1% expenditure growth in FY 2012/13 and 2% in the latter years of the forecast to provide for increases in operating such expenditures such as fuel, utilities, insurance, etc, DEBT SERVICE Debt Service is projected based on current debt service requirements. Any newly issued debt over the forecast period would require consideration based on Board decision to fund certain projects through debt proceeds in lieu of cash funding. CAPITAL IMPROVEMENTS Capital improvements within this forecast mirror the Five Year Capital Improvement Program for the period FY 2011 to FY 2015 with a flat investment in capital improvement from the General Fund of $500,OOo yearly, The funding for the ongoing renewal, rehabilitation and replacement of the assets in the years FY 2016 thru FY 2021 are not reflected in the forecast. City of Casselberry Page 6