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60A - BUDGET STABILIZATION PLAN
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09/19/2011
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60A - BUDGET STABILIZATION PLAN
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Last modified
1/3/2012 3:40:17 PM
Creation date
9/15/2011 4:01:21 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
City Manager's Office
Item #
60A
Date
9/19/2011
Destruction Year
2016
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Budget Stabilization Plan <br />September 19, 2011 <br />Page 3 <br />General Fund Unrestricted Balances <br />(Savings were used to maintain operations) <br />Millions <br />500 <br />450 <br />40.0 <br />350 <br />300 <br />250 <br />20.0 <br />150 <br />100 <br />50 <br />00 <br />FY 05-06 FY 06-07 FY 07-08 FY 08-09 FY 09-10 FY10-11' <br />'Estimated <br />Note: Economic recession began in late 2007 <br />Looking to the FY 12/13 year, the deficit is projected to grow to an estimated $30 million. This is <br />due to ongoing declines in revenue associated with the economic recession, further takeaways <br />from the State, increased costs from pre-negotiated compensation changes and increased <br />pension costs. <br />FY2012-13 Budget Forecast <br />Base 2012-13 Forecast: <br />Revenues* $188.5M <br />Expenditure $218.1M <br />Base Structural Deficit $29.6M** <br />*Includes loss of Vehicle License Fees and $10M loss of UUT revenues. <br />**Excludes additional potential revenue declines. Excludes impacts associated with the elimination of <br />RDA estimated at $0.5M to $6M to the GF. <br />60A-3
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