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General Fund expenditures are expected to increase by 7.5 percent in FY 2021/22 to $125.5 million and additional 6.5 percent in FY 2022/23 to $133.6 million. General Fund Expenditure Comparisons (in Millions) $140.0 $135.0 $133.6 $130.0 $125.5 $125.0 $120.0 $116.7 $115.0 $113.4 $113.8 $110.0 $105.0 $100.0 18/19 19/20 20/21 21/22 22/23 General Fund Revenue Total tax revenues which include property tax, sales tax, hotel/motel tax and business license tax represent 84 percent of the General Fund revenues. Tax revenues are estimated to increase approximately 4.8 percent in FY 2021/22 and another 3.9 percent in FY 2022/23. Property taxes are the largest source of revenue to the General Fund. Overall, property taxes are estimated to increase 3.3 percent in the first year and another three percent in the second year of the two-year Operating Budget. General Fund Expenditures Personnel costs represent 75 percent of the General Fund expenditures and are increasing approximately six percent in FY 2021/22 and three percent in FY 2022/23. Personnel cost increases include step increases and salary increases pursuant to existing labor contracts during the two-year budget, increases in temporary salaries to reinstate recreation programs, and increases in PERS rates. Non-personnel costs represent 25 percent of the General Fund expenditures and are increasing by approximately 11 percent in FY 2021/22 and increase by 16 percent in FY 2022/23. The majority of the FY 2021/22 increase in costs over the FY 2020/21 Midyear Budget is (1) increased allocations to repair and replacement funds, (2) increased contingency for wage increases not yet negotiated and the crisis response program, (3) increased planning contractual services that are off-set by reimbursements from developers, (4) increases in recreation, crossing guard and operations contracts to restore services to pre-pandemic levels. Page 4 of 5