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General Fund Revenue Comparison <br /> (In Millions of Dollars) <br /> $115.0 - <br /> 110.2 <br /> $110.0 - <br /> 106.5 <br /> $105.0 <br /> 100.4 <br /> $100.0 E <br /> 96.5 <br /> $95.0 92.3 <br /> $90.0 <br /> $85.0 <br /> 580.0 <br /> 12/13 13/14 14/15 15/16 16/1/ <br /> General Fund Revenue <br /> Property taxes, sales tax, hotel/motel tax and business license tax revenues represent <br /> 84.3% of the General Fund revenues. Tax revenues are estimated to increase <br /> approximately 6.7% in FY 2015/16 and 4.0% in FY 2016/17 for a cumulative increase of <br /> 11.0% from the FY 2014/15 Midyear Budget. Property taxes are the largest source of <br /> revenue to the General Fund. Overall, property taxes are estimated to increase 6.7% in <br /> the first year and 3.5% in the second year of the two-year Operating Budget. <br /> General Fund Expenditures <br /> Personnel costs represent 75% of the General Fund expenditures and are increasing <br /> approximately 4.8% in FY 2015/16 and 3.6% in FY 2016/17 for a cumulative increase of <br /> 8.6%. Personnel cost increases include step increases and salary increases pursuant to <br /> existing labor contracts during the two year budget; increases in medical costs and other <br /> benefits; increases in PERS rates and increases in annual funding of the retiree medical <br /> reserves. <br /> Non-personnel costs represent 25% of the General Fund expenditures and are <br /> increasing approximately 3% in FY 2015/16 and 4% in FY 2016/17 for a cumulative <br /> increase of 7.1%. The majority of the increase in costs over the FY 2014/15 Midyear <br /> Budget is an increase in the Contingency budget for labor MOUs that will be negotiated in <br /> FY 2015/16. <br /> Page 4 of 5 <br />