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• Sales Tax revenues declined by 26% (approx. $11.6M from FY07- 08 to FY09 -10) • Property Tax revenues declined by 11.5% ( approx. $6.7M from FY07 -08 to FY10 -11) • Pre - negotiated Salary/Benefit Contractual Obligations • Rising Pension Contribution Rates • State Budget Impacts: • Dissolution of RDA and loss of Tax Increment Dollars ■ Loss of resources for Economic Development • Loss of Motor Vehicle License Revenues ($1.2M) Surviving the Fiscal Challenge (FY2008 -09 to FY2012 -13) • Labor Concessions o Negotiations during closed contracts • Use of One -time Funds and Reserves • Reductions in Staffing Levels o Managing vacancies • Outsourcing & Reorganizations • Other Cost Reduction Strategies • Moratorium on training and travel • Limited capital purchases General Fund Budget Comparison ( Approx. $47M or 19% reduction over 5 -yr period) CITY COUNCIL MINUTES 12 MAY 20, 2013 1 0A -12 $58.4 $58.3 $60 $55 $53.1 $51.7 $52.3 $53.0 50 r ^;$44.6 j45 1+ 38.0 37.0 $38.4 $40 $35.8 33.0 1 $35 $30 $25 $20 FY07 -08 FY08 -09 FY09 -10 FY10 -11 FY11 -12 FY12 -13 ** Property Tax* • Pre - negotiated Salary/Benefit Contractual Obligations • Rising Pension Contribution Rates • State Budget Impacts: • Dissolution of RDA and loss of Tax Increment Dollars ■ Loss of resources for Economic Development • Loss of Motor Vehicle License Revenues ($1.2M) Surviving the Fiscal Challenge (FY2008 -09 to FY2012 -13) • Labor Concessions o Negotiations during closed contracts • Use of One -time Funds and Reserves • Reductions in Staffing Levels o Managing vacancies • Outsourcing & Reorganizations • Other Cost Reduction Strategies • Moratorium on training and travel • Limited capital purchases General Fund Budget Comparison ( Approx. $47M or 19% reduction over 5 -yr period) CITY COUNCIL MINUTES 12 MAY 20, 2013 1 0A -12