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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 />more info available in May <br />•Used consultant’s “Most <br />Likely” Scenario <br />•Higher interest rates have <br />slowed car sales <br />•Continued global supply <br />chain challenges <br />•Concerns about futurerecession <br />Proposed fee increase <br />of 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 <br />•Re-assessed values forproperties sold contributes <br />to the growth above 2% <br />•Sales activity has decreased <br />•City receives an average of <br />18.45% of the 1% assessment <br />Cannabis Tax <br />Assume reduction of $8M <br />for now, until more info <br />available in May <br />TOTAL ESTIMATED REVENUES OF $399.8 MILLION FOR FY 2023-24 -SUBJECT TO CHANGE <br />Page 7 of 18