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Table 6
<br /> 10 Year History- Property Tax, Sales Tax & Development Fees
<br /> Property Taxes %chg Sales Taxes %chg,Development Fees %chg
<br /> 2003/04 $33,310,776 $18,555,644 $4,525,846
<br /> 2004/05 36,670,866 10.1% 19,885,692 7.2% 3,700,929 -18.2%
<br /> 2005/06 41,257,246 12.5% 20,133,618 1.2% 3,890,451 5.1%
<br /> 2006/07 45,341,149 9.9% 21,995,875 9.2% 3,633,677 -6.6%
<br /> 2007/08 47,973,474 5.8% 21,130,683 -3.9% 3,094,562 -14.8%
<br /> 2008/09 50,414,366 5.1% 17,535,783 -17.0% 1,620,737 -47.6%
<br /> 2009/10 49,724,024 -1.4% 15,420,066 -12.1% 1,475,282 -9.0%
<br /> 2010/11 48,569,008 -2.3% 18,503,316 20.0% 2,426,078 64.4%
<br /> 2011/12 47,923,691 -1.3% 19,107,418 3.3% 3,789,477 56.2%
<br /> 2012/13 48,648,688 1.5% 19,102,977 0.0% 3,695,615 -2.5%
<br /> 2013/14* 50,450,000 3.7% 20,070,000 5.1% 4,292,615 16.2%
<br /> 2014/15* $51,365,000 1.8% $21,700,000, 8.1% $4,248,615 -1.0%
<br /> "Projected
<br /> General Fund Expenditures
<br /> General Fund expenditures are estimated to be $94.962 million in the 2014/15FY Mid-Term
<br /> Budget, an increase of $1.899 million from the original 2014/15FY Budget adopted in June
<br /> 2013. Table 7 summarizes the 2014/15FY Mid-Term Budget changes in each expenditure
<br /> category.
<br /> Table 7
<br /> General Fund Expenditures by Category
<br /> 2014/15FY 2014/15FY
<br /> 2010/11FY 2011/12FY 2012/13FY 2013/14FY Original Adjustments Mid-Term
<br /> Expenditure Category Actual Actuals Actuals Midyear Budget (Decreases) Budget
<br /> Personnel $65,175,403 $67,685,003 $68,360,145 $70,463,216 $72,402,199 ($737,088) $71,665,111
<br /> Transportation&Training 1,310,238 1,298,562 $1,709,058 1,834,782 1,758,445 338,171 2,096,616
<br /> Repairs&Maintenance 2,591,622 2,245,136 $2,338,786 2,901,333 2,883,608 729,616 3,613,224
<br /> Materials&Supplies 13,018,446 14,318,763 $15,292,579 16,949,862 15,446,794 1,574,284 17,021,078
<br /> Capital Outlay 491,051 564,176 $490,572 580,516 571,416 (5,316) 566,100
<br /> Total Evenditures $82,586,760 $86,111,640 . $88,191,140 $92,729,709 $93,062,462 $1,899,667 $94,962,129
<br /> Personnel
<br /> Personnel costs represent 75.5% of the General Fund Budget and are estimated to decrease
<br /> by $737,088 from their original projection mainly due to over projecting the increase in medical
<br /> insurance premiums and the annual required contribution (ARC) for the retiree medical benefit.
<br /> Staff assumed a 10% increase in health insurance premiums for the 2014/15FY. We have
<br /> received the notice of premiums from our health insurance providers and the actual increases
<br /> are approximately 2.3% for a savings of$495,049.
<br /> The bi-annual actuarial study (June 30, 2013) for retiree medical benefits was completed by
<br /> Bartel & Associates in May 2014 and indicates for the 2014/15FY that the annual required
<br /> contribution (ARC) for retiree medical post-retirement benefits for the General Fund is $1.443
<br /> million less than projected in the actuarial study prepared as of June 30, 2011 and used to
<br /> determine the contribution in the original 2014/15FY budget.
<br /> 8
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