Fiscal Year 2013-2015 Special Budget Meeting

HONORABLE MAYOR AND CITY COUNCIL Subject: Proposed FY 13-15 Proposed Policy Budget Date: June?, 2013 Page 2 revenues for this fund in the Proposed Budget, please identity the amount of revenues for each fund that are proposed for paying down its negative balance. Yes, the Contract Administration Fee Fund (1791) is currently on a repayment schedule. For the Proposed Budget, the general purpose fund contributes $579,605 per year in the Proposed Budget and is the only source of revenue for this fund. The negative fund balance is projected to be fully paid down by the end of FY 2016-17. Please see Attachment B for addition^ detail. 7) On p. E-69 of the Proposed Budget, the Non-departmental GPF budget shows an increase of over $7 million, from $64,654,586 to $72,070,114. What is/are the specific purpose(s) of this increase? Please refer to Attachment C for detailed descriptions on the increases., 8) On p. E-70 of the Proposed Budget, a large amount of Non-departmental revenues are listed. Please explain in detail what the Citywide Activities, Debt/Lease Payments, and Fiscal Management revenues consist of. Please refer to Attachment D for detailed descriptions. Revenue 1) How does the City measure and project revenue growth? Revenue growth is forecasted based upon both qualitative and quantitative measures. Each category of revenue (property tax, sales tax, real estate transfer tax, etc) is forecast individually. Staff forecasts are based upon inputs that are clearly evidenced by data or professional analysis. Depending on the specific revenue category, staff relies on the following to measure and project revenue growth: • The analysis and forecasts of economic consultants; • Internal analysis of recent economic trends; • Regional economic growth trends as measured by outside parties; • Known local anomalies including the opening and closure of businesses; • Historical growth trends; and, • The expertise and experience of staff. Staff carefully monitor revenues for signs of growth or decline, however rapid changes both positive and negative are not often forecastable. Staff welcomes any outside reports, data, or analysis that can aid in the forecasting process.