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497 <br /> November 18,1987 <br /> Ir <br /> oclal and c munity prams e. canttnue Oe address the Lasuea with ''.i <br /> o 8 M1oonan eexxpes turest of these <br /> funds <br /> but plans planninggii be oatle is <br /> 1988 the expenditures of Eve etnds prepared <br /> onow for this <br /> budget Item sands a signal that Everett Is prepa[etl to do alta Der[. <br /> Highlights for 1988 include continued emphasis on economic <br /> development and human needs, programs that we have strongly <br /> uppoited Poi many yeas end wM1ich were strengthened by the addition <br /> of staff in 198]. Rdditienally,we will continue our Perk expansion <br /> and and grants rehabilitation <br /> we haves been successful <br /> successful in neral recei government <br /> nmweta up also <br /> currently bye thing grants to Ux salve the tire fire'cleanup as <br /> requiDepartment f e Ede. Program and personnel <br /> improvements will be discussed Ln more detail as proceed with the <br /> budget that we have years, <br /> ed for submission. Ihave always <br /> demonstrated in past years, my pledge to the City council, <br /> personally monitor the revenues and expenses an a regular Oasis. I <br /> will bring any major budget nmatters to your attention for a decision <br /> if managing the toty''s ther We business san be and 1988 will be no exceproud of our tion. In <br /> Revenues <br /> Overall, our revenues for 19ei 87 exceeded o expectations. we are <br /> x <br /> Projecting that actual 1987 s u s ill beapproximately 6%higher <br /> than budget. are optimistic that this type of growth will <br /> continue in some <br /> seoe of our maor nu categories for 1988. Let us <br /> examine some of our larger sources of income. <br /> Property Tax' <br /> ke ttcipate 8%growth <br /> o <br /> in our regular property tax revenues. Thew <br /> will. include the % statutory limit plus another 2% for <br /> construction and annexation. <br /> Sales Tax <br /> lhrouuh the collection period ending October 1987,.our sales taxreven <br /> continued es are up 18% over the same period In 1986. we look for ; <br /> oin 1988 and have <br /> sales tax ver total 198]collections. <br /> budgeted a ]% Increase in 1988 <br /> Business and Occupation Tax I <br /> xpect x revenues to Pall slightly below ouroriginal 1987 <br /> es this <br /> estimates this year but still beupbyf 4%Tver actual 1986 <br /> collections. <br /> rimarilbased on <br /> forecastedaircraft 9deliverles ae well as the star[-up Sconstruction <br /> activities of the Navy base. • <br /> Utility Taxes <br /> Revenues from the tax on gas, electricity, and telephone service <br /> grew by over 7% from 1986 through 1987, reflecting the rte <br /> Increases which took effect this year. Both gas and electricity <br /> revenbelowes our collectively,estimat however,. bring willfinish 8Cthe year t increase <br /> above the revised estimates of 19879 we project a 9%increase I <br /> State Bre etl Revenues !� <br /> Nonles received from the State may be down about 6%in 1988 from <br />