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CITY OF EVERETT FISCAL ANNEXATION ANALYSIS: EXECUTIVE SUMMARY
<br /> Exhibit ES-2
<br /> Estimated Core Revenues and Expenditures, Scenario 3
<br /> 2010 2015 2020 2025
<br /> Core Expenditures 127,919,871 159,835,958 195,986,513 240,063,214
<br /> Subtotal Expenditures 127,919,871 159,835,958 195,986,513 240,063,214
<br /> Core Resources 123,949,658 156,629,690 193,081,867 240,674,224
<br /> State Sales Tax Credit 0 0 0 0
<br /> Subtotal Revenues 123,949,658 156,629,690 193,081,867 240,674,224-
<br /> Net ReSOuic
<br /> 40,674,224NetResaac S(000's) (3,970,213) (3,206,268) (2,904,646) 611,010
<br /> Delicit/S iplus"as%of 6rpenditra s -3% -2%, -1% 0%
<br /> ._..._._ :_-- 2010 2015 2020 2025
<br /> Core Expenditures 6,026,490 6,022,708 8,228,489 11,012,468
<br /> Facility Debt Service 0 0 0 0
<br /> Subtotal Expenditures 6,026,490 6,022,708 8,228,489 11,012,468
<br /> Core Resources 5,859,147 7,080,882 8,715,417 10,784,626
<br /> State Sales Tax Credit 2,314,919 1,449,337 0 0
<br /> Subtotal Revenues 8,174,066 8,530,219 8,715,417 10,784,626
<br /> Net Resources(000's). 2,147,576 2,507,511 486,928 (227,842)
<br /> Ddidt/Surplus as%of Expenditures 36% 42% 6% -2%
<br /> F_. 2010 2015 2020 2025
<br /> Core Expenditures 133,946,361 165,858,666 204,215,001 251,075,682
<br /> Subtotal Expenditures 133,946,361 165,858,666 204,215,001 251,075,682
<br /> Core Resources 129,808,805 163,710,572 201,797,283 251,458,850
<br /> State Sales Tax Credit 2,314,919 1,449,337 0 0
<br /> Subtotal Revenues 132,123,724 165,154909 201,797,283 251,458,850
<br /> Net Resources(000's) (1,822,637) (698,757) (2,417,718) 383,168
<br /> Defidt/Surpius as%of Core Expenditures -1% 0% -1% 0%
<br /> Estimated Core Revenues and Expenditures, Scenario 4
<br /> 2010 2015 2020 2025
<br /> Core Expenditures 127,694,211 159,624,322 195,385,639 239,745,601
<br /> Subtotal Expenditures 127,694,211 159,624,322 195,385,639 239,745,601
<br /> Core Resources 124,076,165 156,716,082 193,192,056 240,795,042
<br /> State Sales Tax Credit 0 0 0 0
<br /> Subtotal Revenues 124,076,165 156,716,082 193,192.056 240,795,042
<br /> Net Resources(000's) (3,618,046) (2,908,240) (2,193582) 1,049,440
<br /> Defidt/Surpks as%of Expenditures -3% -2% -1% 0%
<br /> 2010 2015 2020 2025
<br /> Core Expenditures 11,859,667 13,605,013 17,722,754 22,161,886
<br /> Facility Debt Service 0 0 0 0
<br /> Subtotal Expenditures 11,859,667 13,605,013 17,722,754 22,161,886
<br /> Core Resources 11,733,474 13,996,273 16,901,850 20,480,525
<br /> State Sales Tax Credit 3,864,037 3,930,498 0 0
<br /> Subtotal Revenues 15.597,511 17,926.771 16,901,850 20,480,525
<br /> Net Resources(000's) 3,737,844 4,321,758 (820,904) (1,681,3611
<br /> Deficit/Surplus as%of Expenditures 32% 32% -5% -846
<br /> 2010 2015 2020 2025
<br /> Core Expenditures 139,553,878 173,229,335 213,108,392 261,907,487
<br /> Subtotal Expenditures 139,553,878 173,229.335 213,108,392 261,907,487
<br /> Core Resources 135,809,639 170,712,355 210,093,906 261,275,567
<br /> State Sales Tax Credit 3,864,037 3,930,498 0 0
<br /> Subtotal Revenues 139,673,676 174,642,853 210,093,906 261,275,567
<br /> Net Resources(000's) 119,799 1,413,518 (3,014,486) (631,921)
<br /> Deficit/Surplus as%of Core Expenditures 0% 1% -1% 0%
<br /> Source:Berk&Associates analysis,2008.
<br /> L Final Report:October 2008 Page ES-4
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