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• Long -term vision <br />• Adoption of one -year Forecast and four -year financial <br />projection <br />CITY MANAGER'S BUDGET & ECONOMIC OVERVIEW <br />• 8.8% growth in Top 6 Revenue Sources over a 3 -Year period <br />o $147.6M (Projected FY 14/15) vs. $135.6M (FY 12/13) <br />• 11.5% Sales Tax growth over a 3 -Year period <br />o $43.6M (Projected FY 14/15) vs. $39.1M (FY 12/13) <br />• 17.3% Hotel Visitors Tax growth over a 3 -Year period <br />o $8.8M (Projected FY 14/15) vs. $7.5M (FY 12/13) <br />• Assessed Property Values have increased by 8.5% over a 3- <br />Year period <br />o $20.4B (FY 14/15) vs. $18.88 (FY 12/13) <br />• 41.5% growth in Building Valuation <br />o $205.OM (Projected FY 14/15) vs. $144.8M (FY 12/13) <br />• Unemployment rate has significantly declined <br />o 5.0% (Mar 15) vs. 13.0% (Mar 09) <br />NO 1,]437. <br />Ny G.1h <br />5A <br />H9 <br />o No <br />D5 <br />570 <br />$25 ±'SM3 <br />$55 <br />fly <br />510 <br />$3.0 <br />$S <br />fYOtl 1-0 81445 Roje W <br />BUDGET ACCOMPLISHMENTS <br />• Developed a positive One -Year Forecast & Four -Year Projections as <br />the basis of the FY15 -16 Budget <br />• Modified assumptions based on updated revenue information <br />and, as a result, developed a balanced budget for the upcoming <br />Fiscal Year <br />• CalPERS estimated contributions included in 4 -year projection <br />(FY 16/17- FY19/20) <br />• Made progress in several areas of the Strategic Plan <br />• Financial Stability <br />• Continue to pursue objectives that shape downtown Santa Ana <br />into a thriving, culturally diverse, shopping, dining, and <br />entertainment destination <br />CITY COUNCIL MINUTES 28 MAY 19, 2015 <br />1 OA -28 <br />