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General Fund expenditures are expected to increase by 6.3 percent in FY 2019/20 to $120.7 million and additional 3.1 percent in FY 2020/21 to $124.5 million. General Fund Expenditure Comparison (In Millions of Dollars) $130.0 $124.5 $125.0 $120.7 $120.0 $115.0 $113.6 $110.0 $107.0 $105.0 $101.7 $100.0 $95.0 $90.0 16/17 17/18 18/19 19/20 20/21 General Fund Revenue Total tax revenues which include property tax, sales tax, hotel/motel tax and business license tax represent 87 percent of the General Fund revenues. Tax revenues are estimated to increase approximately 3.4 percent in FY 2019/20 and another 2.9 percent in FY 2020/21. Property taxes are the largest source of revenue to the General Fund. Overall, property taxes are estimated to increase 5.1 percent in the first year and another 3.5 percent in the second year of the two-year Operating Budget. General Fund Expenditures Personnel costs represent 73 percent of the General Fund expenditures and are increasing approximately six percent in FY 2019/20 and 3.4 percent in FY 2020/21. Personnel cost increases include step increases and salary increases pursuant to existing labor contracts during the two year budget; increases in PERS rates and increases in annual funding of the retiree medical expednitures. Non-personnel costs represent 27 percent of the General Fund expenditures and are increasing approximately seven percent in FY 2019/20 and increase by 2.3 percent in FY 2020/21. The majority of the FY 2019/20 increase in costs over the FY 2018/9 Midyear Budget is (1) an increase in Livermore Pleasanton Fire Department (LPFD) repair and replacement allocations, (2) increased Planning Division contractual services that are off- set by increased revenues, (3) street light maintenance agreements and (4) the Contingency budget for wage increases, new positions and a legislative advocacy contract. Page 4 of 5