1989/10/04 Council Minutes - Laserfiche WebLink

393 Oct.a,1989 million will be available for general government',opetatidns while $2.5 million will be used far debt service, pension funding,v and capital project reserves. Following is our analysis of the txentls. enue Property Tex We tanticipate 6% growth in q reegular property tax revenues in 1990. a^l..f theg property.t incoe ill bebe used etofund 1982cfire Pst tion ension bonds.costs and make debt service payments an the Sales Tax Sales tax collections for 1989 may exceed budgeted figures by as much as 11% andwould represent growth over 1988 collections by we approximately 15%. For 1990look for continued growth andhaveprojected a 10%increase over 1989. Business and Occupation Tex We project operationsj t that.1989 business and occupation t vanes available for .will show growth of-about 10%. We are optimistic that the generale level of economic activity fueled by the remarkable gains in the:aerospace se tor,will.continue through 1990 end well beyond, and have Projected income from thissource at 25% increase. A significant portion of this income stream will be diverted from operations and placed into a special new e fund for the completion of the c ...unit center. Once that objective is accomplished, v the revenue will be available for operations asneeded or for other capital improvements. Utility Taxes We have budgeted 5%growth over 1990 prmjectiens which ex Currently in line ItM1 the butlgeted ampunts. State Shared Revenues - t� BY Y theend f this year, we expect to see stat shared revenues up approximately n tely 5% v 1988. Using state pxa ti uidelines published by the.Municipal Research Centex, xe look for this trend to continue into 1990. Selected I c While we have postponed new projects far the 1990 budget, we are seeking t 1 d' f dig ole 1 P ome on going budget activities. tivleter exvrce Selected programs m hb increased provide t level, hila others increased because of c tract obligations of inflation.