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Prior 5-year Forecast (Presented September 2013) <br />• Major Assumptions: <br />0 Conservative 2% annual revenue growth which includes a revenue tax <br />base of $149.3M in 14/15. <br />0 Utility Users Tax (UUT) telecom revenues continue to decline in 2013- <br />14 and 2014-15 <br />0 Salary increases forecasted (2% per year 2015116 through 2017118 <br />and 3.25% in 2018119). <br />0 Estimated pension costs in anticipation of Public Employee <br />Retirement System actuarial forecast (5-year estimated cost: <br />$1O4.8M 2014115 to 2018119). <br />0 Health care cost increases as recommended by Personnel <br />0 Water transfer reduction of $1.2M in 2014/15 and $2AM 2015/16 <br />through 2018/19 <br />0 2% increase for inflation in commodities in 2015/16 thru 2018/19 <br />Prior 5-year Forecast (Presented September 2013) <br />52C <br />$235 <br />5230 - <br />$225 - <br />"e 5220 <br />e <br />$235 - _... <br />e <br />$205 _202.6.-. <br />$200 203:J <br />$195 <br />13114 <br />14l%5 15116 <br />1611J 1t� 16�19 <br />Revised 5-year Forecast January 2014 <br />• Major Assumptions: <br />0 Moderate 3% annual revenue growth which includes a higher revenue <br />tax base of $153.5M in 14/15. Important: Higher tax base equates to <br />$4.2M in additional revenue throughout the forecast. <br />0 UUT revenues stabilize (previous 2013-14 value of$24.1M, revised to <br />$24.614) <br />o No service level or salary schedule changes forecasted <br />0 Public Employee Retirement System actuarial forecast reflects current <br />pension formulas w/ increases absorbed (5-year estimated costa <br />$98M which is $6.814 less than originally anticipated). <br />0 Revised lower health care costs as recommended by Personnel <br />CITY COUNCIL MINUTES 15 FEBRUARY 4, 2014 <br />