City staff has projected that property tax revenue will stay the same as 2008-2009. Franchise fees and utility taxes will increase $269,200 to cover the estimated $372K lost in state and other revenues. Total revenue is projected to be $48,104,900 – a .002 drop.
Expenses will be cut 2 percent – the current budget was balanced using reserves. The City will delete 19 positions and lower personnel cost by $723,800 – 2 percent cut. Operating expenses will be cut $553,500 (6%). Agency funding is down $107,200 (1.2%).
Read workshop notes.