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o Water transfer will remain at current Council approved level pending <br />study updates <br />0 2% increase for inflation in commodities in 2015/16 thru 2018/19 <br />0 1 % ongoing innovation and efficiency savings ($1.4M annually) <br />0 Includes funding to implement the 5 -year Strategic Plan ($2M annually <br />2014115 - 2018119) <br />Revised 5 -year Forecast January 2014 <br />$235 <br />$230 <br />$225 <br />$220 <br />$215 <br />0 <br />5210 <br />$205 <br />$200 w.v <br />$195 <br />--Revenues Expenditures <br />231.3 <br />2183 <br />13114 14115 15116 16111 11116 18119 <br />2st Quarter GF Major Revenue Performance <br />Variances vs. Projections <br />(Cumulative July 1 to December 31, 2013) <br />Sales Tax $508K 5.0% <br />Property Tax $632K 4.3% <br />Property Tax In -Lieu VLF $204K 155.8% <br />UUT $446K 4.4% <br />Business License $137K 6.0% <br />Hotel Visitors Tax $460K 14.3% <br />General Fund Reserves <br />(Unassigned Balance) <br />40 <br />35 <br />M <br />M <br />15 <br />10 <br />5 <br />0 <br />"M10 Fri2-13 "1 &16 <br />*Unassigned reserve level of 20% achieved <br />CITY COUNCIL MINUTES 1 OA-1 6 FEBRUARY 4, 2014 <br />