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<br /> BUDGET SUMMARY
<br /> 2011/12FY&2012/13FY Operating Budget
<br /> The following bar graph provides a five year comparison of revenues by major revenue
<br /> categories:
<br /> 5 Year Revenue Comparison
<br /> Inter(und
<br /> 2013
<br /> Recreation Services = •2012
<br /> Intergovernmental = •2011
<br /> Developmental •2010
<br /> Service Fees
<br /> •2009
<br /> Other Taxes C
<br /> TOT
<br /> Sales Tax _
<br /> Property Taxes
<br /> _—V— ;--_'__-' -- I
<br /> $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $45.0 $50.0
<br /> Tax revenues represent approximately 84% of the General Fund revenues. Property tax
<br /> (66%) and sales tax (25%) represent a majority (91%) of tax revenues.
<br /> Property Tax
<br /> Property tax revenues, including secured, unsecured, supplemental, delinquent property taxes
<br /> and the amount reimbursed by the State in exchange for the reduction in vehicle license fees
<br /> are not projected to increase in 2011/12FY and are projected to increase by 2% in 2012/13FY.
<br /> 2010/11 FY
<br /> 2007/08FY 2008/09FY 2009/10FY Midyear 2011/12FY % 2012/13FY %
<br /> Property Tax Categories Actual Actual Actual Budget Projected Change Projected Change
<br /> Secured Property 37,678,704 39,665,560 39,509,558 39,500,000 39,500,000 0% 40,290,000 2.0%
<br /> Unsecured Property 2,221,728 2,283,179 2,403,347 2,315,400 2,315,400 0% 2,361,708 2.0%
<br /> Delinquent Taxes 1,342,062 2,219,607 2,281,672 1,200,000 1,200,000 0% 1,200,000 0.0%
<br /> Property Tax in Lieu of VLF 4,752,873 4,996,695 4,972,711 4,882,208 4,882,208 0% 4,979,852 2.0%
<br /> Supplemental Assessment 1,978,106 1,249,326 556,736 500,000 500,000 0% 510,000. 2.0%
<br /> Total Property Taxes 47,973,474 50,414,366 49,724,024 48,397,608 48,397,608 0% 49,341,560 2.0%
<br /> Sales Tax
<br /> Sales tax is expected to increase by 5.0% in 2011/12FY and 5.0% in 2012/13FY. The
<br /> increase is primarily due to significant and continued improvements in certain sectors of the
<br /> general economy shown below:
<br /> • 16.0% Increase in Fuel & Service Stations
<br /> • 8.0% Increase in Autos & Transportation
<br /> • 6.5% Increase in Business & Industry
<br /> • 3.5% Increase in Restaurants & Hotels
<br /> • 3.5% Increase in General Consumer Goods
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