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GENERAL FUND REVENUE EXPECTATIONS <br />Business License Tax <br />Sales Tax (40% of budget) <br />Assume flat for now until <br />m ore info available in May <br />•Used consultant’s “Most Lik e ly” Scenario•Higher interest rates have slo w ed car sales•Continued global supply chain challenges•Concerns about future rec e ssion <br />Proposed fee increase <br />o f 4 .1% <br />Based on the compensation <br />increase for staff providing <br />the services <br />All Other revenues may <br />increase by 3.8% <br />Some examples include <br />charges for services & <br />franchise fees <br />Property Tax (24% of budget) <br />•Prop 13 growth of 2% max•Re -assessed values for properties sold contributes to the growth above 2%•Sales activity has decreased•City receives an average of 18.4 5% of the 1% assessment <br />Cannabis Tax <br />Assume reduction of $8M for now, until more info available in May <br />TOTAL ESTIMATED REVENUES OF $399.8 MILLION FOR FY 2023 -24 -SUBJECT TO CHANGE