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65 <br /> February 25,1976 <br /> Anticipated total revenue all sources: $9,985,553 <br /> *xi"i" 10,749,584 <br /> cipated deficit in <br /> 21:0==:a3yr!esources of: $ (7640030) <br /> The following conditioins exist as the basis for these projections: <br /> REVENUES <br /> 1 1. No revenue sharing. <br /> : 2. No tax increases. <br /> 3. No fee increases. <br /> 4. Historically valid projections of some growth in nend and <br /> Personal Property taxes,B60 taxes,Sales taxes,none of <br /> which are deflated in zval terms. <br /> EXPENSES <br /> :, 1. As stated above-with existing nvnpower and erosr,..levees. <br /> 2. A 108 increase in salaries. <br /> 3. An 88 increase in commodity costs. <br />). As a pre-condition of this projection It must be Pointed out <br /> that liabilities in 1977 will in(aude some term-debt amortiza- <br /> tion in the Park budget(Swimming Pool;Driving Range;Boat <br /> Launch Facility). Also,the volatile nature of the Police <br /> Pension Pund could cause some reallocation problems in terms <br /> ) of available resources. <br /> ' If revenue sharing is approved,available resources from this <br /> Program in 1977 will be$1,300,000. /f at that time pelicY <br /> dictates the use of part of these funds for operational par- <br /> 008e8Lonet02 Tumr,evenues of 1764,0010±11 be made avail- <br /> tr t e forward Into 1977. <br /> contribution of$631,930. <br /> Trlegi!TaLate2r:71:74dYtrXec=inr=ide=g:: <br /> 1. Increase E60 taxes. <br /> , 2. Increase Franchise taxes. <br /> 3. Increase Gambling taxes. <br /> 4. Request special levies. <br /> . A brief discussion of each alternative is as follows: <br /> The City of Everett at this time assesses a 1.0 tax of 1 mil <br /> ., on.0018 of gross sales. <br /> Project.incremental increases in this tax are as follows <br /> bee.-on our 1977 projections: <br /> Tax INCREASE <br /> ; 1 mil on.001% 1,080,000 <br /> ' 1.25 mil on.001258 1,350,000 270,000 <br /> ' 1.50 mil on.00158 1,620,000 540,000 <br />