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10-Aug-16 City of Everett: Five-Year Financial Plan
<br /> 2016 2015 2016 2016 2016 2016 2016 2017 2018 2019 2020 2021
<br /> RESOURCES Distribution Actual Original Amendments Amended Adjustments Forecast Budget Outlook Outlook Outlook Outlook
<br /> Beginning Fund Balance 38,643,180 25,500,000 13,949,548 39,449,548 270,012 39,719,560 28,642,328 27,761,908 19,385,329 8,036,089 (6,781,915)
<br /> Property Tax 27.1% 34,237,160 34,835,748 34,835,748 799,450 35,635,198 36,100,606 36,801,509 37,501,286 38,178,433 38,744,337
<br /> Sales Tax 20.4% 25,915,276 26,025,167 26,025,167 738,068 26,763,235 27,098,883 27,911,849 28,470,086 28,897,138 29,330,595
<br /> B&O Tax 17.2% 22,966,940 22,607,760 67,025 22,674,785 (43,852) 22,630,933 22,515,730 22,526,376 22,394,035 22,572,774 22,976,875
<br /> Utility Taxes 10.2% 12,598,228 13,420,854 13,420,854 (65,854) 13,355,000 14,460,200 14,668,554 14,908,564 15,153,374 15,403,081
<br /> Other Taxes 5.5% 6,624,681 7,123,411 7,123,411 79,230 7,202,641 7,359,084 7,534,420 7,714,973 7,900,714 8,091,794
<br /> Licenses&Franchise Fees 1.6% 2,005,777 2,144,234 2,144,234 (20,558) 2,123,676 2,165,421 2,196,355 2,237,145 2,278,704 2,321,049
<br /> Construction Permits 1.8% 2,939,731 1,858,300 1,858,300 546,700 2,405,000 2,351,200 1,714,416 1,626,848 1,485,985 1,500,845
<br /> Grants 0.7% 497,188 35,000 854,511 889,511 (6,000) 883,511 40,000 - - - -
<br /> State Revenues 3.1% 3,770,048 3,943,116 3,943,116 103,861 4,046,977 4,289,104 4,385,771 4,377,129 4,368,900 4,411,089
<br /> Interfund Service Charges 4.3% 6,024,512 5,647,916 5,647,916 - 5,647,916 5,926,693 6,104,494 6,287,629 6,476,258 6,670,546
<br /> Chgs.for Goods&Services 3.6% 4,133,399 3,560,457 3,560,457 1,160,543 4,721,000 4,582,400 3,220,250 3,214,175 3,277,018 3,341,261
<br /> Fines&Forfeits 1.0% 1,670,649 1,845,000 1,845,000 (537,500) 1,307,500 1,549,760 1,565,429 1,577,948 1,590,592 1,603,363
<br /> Misc Revenues 3.6% 3,802,107 4,179,480 109,869 4,289,349 379,300 4,668,649 4,066,483 4,180,712 4,398,446 5,606,818 6,081,890
<br /> Total Revenues 100.0% 127,185,696 127,226,443 1,031,405 128,257,848 3,133,388 131,391,236 132,505,566 132,810,136 I 134,708,263 I 137,786,709 I 140,476,725
<br /> Annual Revenue Growth 3.3% 0.8% 0.2% 1.4% 2.3% 2.0%
<br /> Total Resources I 165,828,876 i 152,726,443 1 14,980,953 I 167,707,396 I 3,403,400 I 171,110,797 I 161,147,893 I 160,572,044 I 154,093,592 I 145,822,798 I 133,694,810
<br /> 2016 2015 2016 2016 2016 2016 2016 2017 2018 2019 2020 2021
<br /> EXPENSES by Function Distribution Actual Original Amendments Amended Adjustments Forecast Budget Outlook Outlook Outlook Outlook
<br /> Legislative 0.7% 880,609 1,011,856 1,011,856 0 1,011,856 1,051,759 1,083,638 1,117,040 1,152,057 1,188,788
<br /> Departmental Support 13.1% 16,389,604 17,412,870 1,304,795 18,717,665 (1) 18,717,664 19,009,531 19,690,623 20,419,386 21,184,501 21,988,413
<br /> Public Safety 47.8% 64,642,726 63,742,915 4,353,840 68,096,755 (1) 68,096,754 67,893,646 72,167,588 74,594,221 77,634,283 80,826,163
<br /> Reserve Contributions 11.3% 8,383,102 6,878,768 9,273,448 16,152,216 - 16,152,216 7,057,964 8,500,356 8,677,227 8,827,286 8,981,158
<br /> Debt Service 1.2% 1,545,276 1,684,590 1,684,590 - 1,684,590 1,658,840 1,738,390 1,910,090 3,071,090 3,471,540
<br /> Infrastructure 10.0% 13,437,830 13,656,534 579,139 14,235,673 (1) 14,235,672 14,343,537 14,850,186 15,362,966 15,900,344 16,463,762
<br /> Community Programs 14.0% 18,698,349 20,810,369 (911,547) 19,898,822 0 19,898,822 20,258,082 20,969,132 21,709,432 22,483,746 23,294,090
<br /> Governmental Operations 1.9% 2,131,820 2,028,541 642,351 2,670,892 1 2,670,893 2,112,626 2,186,802 2,267,141 2,351,406 2,439,837
<br /> Total Expenses 100.0% 126,109,316 127,226,443 15,242,026 142,468,469 (0) 142,468,469 133,385,985 141,186,715 I 146,057,503 I 152,604,713 I 158,653,752
<br /> Annual Expense Growth 13.0% -6.4% 5.8% 3.4% 4.5% 4.0%
<br /> 2015 2016 2016 2016 2016 2016 2017 2018 2019 2020 2021
<br /> Actual Original Amendments Amended Adjustments _ Forecast Budget Outlook Outlook Outlook Outlook
<br /> Current Resources/Carry fwd 127,185,696 127,226,443 14,980,953 142,207,396 3,403,400 145,610,797 132,505,566 132,810,136 134,708,263 137,786,709 140,476,725
<br /> Total Expenses 126,109,316 127,226,443 15,242,026 142,468,469 (0)_ 142,468,469 133,385,985 141,186,715 146,057,503 152,604,713 158,653,752
<br /> Annual Balance 1,076,380 0 . (261,073) (261,073) 3,403,400 3,142,328 (880,419) (8,376,579) (11,349,240) (14,818,004) (18,177,027)
<br /> Ending Fund Balance 39,719,560 25,500,000 25,238,927 28,642,328 27,761,908 19,385,329 8,036,089 (6,781,915) (24,958,942)
<br /> 20%Fund Balance(rounded up) 26,300,000 26,600,000 26,600,000 27,000,000 27,600,000 28,100,000
<br /> Required change in Fund Balance - 400,000 600,000_ 500,000
<br /> Annual Amount Required to Balance 3,142,328 (880,419) (8,376,579) (11,749,240) (15,418,004) (18,677,027)
<br /> STRAT_IF for Aug 10th Mayor 8/10/2016
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