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• Sales Tax revenues declined by 26% (approx. $11.6M from FY07- <br />08 to FY09-10) <br />• Property Tax revenues declined by 11.5% (approx. $6.7M from <br />FY07-08 to FY10-11) <br />$60 <br />$55 <br />150 <br />j45 <br />$40 <br />$35 <br />$30 <br />$25 <br />520 <br />$52.3 <br />37.0 <br />$53.0 <br />$38.4 <br />FY07-08 FY08-09 FY09-10 FY10-11 FY11-12 FY12-13** <br />Property Tax* <br />• Pre-negotiated Salary/Benefit Contractual Obligations <br />• Rising Pension Contribution Rates <br />• State Budget Impacts: <br />o Dissolution of RDA and loss of Tax Increment Dollars <br />¦ Loss of resources for Economic Development <br />o Loss of Motor Vehicle License Revenues ($1.2M) <br />Surviving the Fiscal Challenge (FY2008-09 to FY2012-13) <br />• Labor Concessions <br />o Negotiations during closed contracts <br />• Use of One-time Funds and Reserves <br />• Reductions in Staffing Levels <br />o Managing vacancies <br />• Outsourcing & Reorganizations <br />• Other Cost Reduction Strategies <br />o Moratorium on training and travel <br />o Limited capital purchases <br />General Fund Budget Comparison (Approx. $47M or 19% reduction over <br />5-yr period) <br />CITY COUNCIL MINUTES 12 MAY 20, 2013 <br />1 0A-12