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General Fund Revenue <br />Property taxes are the largest source of revenue to the General Fund. Overall, property <br />taxes are estimated to increase 5.4% in the first year and 5.8% in the second year with <br />the secured roll alone increasing 6.6% and 6.7% over the two year budget. Hotel taxes <br />is estimated to increase 5% in each year. General taxes in total, are estimated to <br />increase 3.3% and 4.5% over the two year budget period. <br />General Fund Expenditures <br />Recommended General Fund appropriations represent a 4.6% increase in the first year <br />of the proposed budget 2007-08, compared to the current year 2006-07, and an 4.1% <br />increase in the second year 2008-09 of the budget compared to the first year 2007-08. <br />The increases reflect normal inflationary increases, and increases in personnel costs for <br />salary and benefits costs in accordance with existing Memorandums of Understanding <br />(MOUs) with the employee groups. <br />For the coming year in 2007-08 the budget includes a net increase of 1.54 FTE's <br />including a management analyst to serve as a Public Information Officer (PIO) and <br />increasing a part time Traffic Engineering Technician to full time. Additional funding is <br />included in the contingency for another Traffic Engineering position, a Permit Center <br />Manager, and a City Naturalist. <br />General Fund Transfers-out <br />In both 2007-08 and 2008-09 $5 million is being transferred is budgeted to the CIP. In <br />2007-08 an additional $2 million and in 2008-09 and additional $3 million will be <br />transferred into the CIP from the General Fund Capital Project Reserve. <br />The General Fund Transfers-out include operating subsidies for both the Storrn Drain <br />and Cemetery Enterprise Funds. In the case of the Cemetery Fund, a total of $30,200 <br />is recommended in 2008-09 to maintain a pioneer standard. The operating transfer to <br />the Storm Drain Fund is budgeted to address ongoing storm water management. <br />A transfer-out of $300,000 is included in 2008-09 for Golf debt service to ensure <br />advance funding for 2 year of debt service payments. <br />A more detailed discussion of the proposed two-year budget is contained in the <br />attached Budget Message. <br />Page 6 of 7 <br />