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economy is occurring. Past recession cycles have generally occurred between four and
<br />nine years, and it has been almost ten years since the last recession. Employment
<br />growth is slowing, and as previously mentioned, there is also great uncertainty over the
<br />possible economic effects of the federal administration’s policies. For those reasons, it
<br />is highly likely that a downturn will occur at some point during the next five years.
<br />
<br />FY 2017-18 Recommended Budget Overview
<br />
<br />The FY 2017-18 Recommended Budget for all funds totals $267.2 million in revenues
<br />and $267.0 million in expenditures. The General Fund portion of the budget is $131.6
<br />million. In prioritizing the long-term fiscal sustainability of the City, the Recommended
<br />Budget has been developed using limited, primarily one-time increases to departments,
<br />and maintains a General Fund reserve of 15 percent.
<br />
<br />FY 2017-18 Recommended Budget (All Funds)
<br />
<br />FY 2016-17 FY 2017-18
<br />Adjusted Recommended
<br />Budget Budget
<br />Revenues
<br /> General Fund 128,087,159$ *131,649,266$ *
<br /> Special Revenue Funds 22,070,209 6,562,811
<br /> Capital Project Funds 13,343,127 7,710,846
<br /> Debt Service Funds 2,034,387 1,776,202
<br /> Enterprise Funds 76,598,610 80,634,848
<br /> Internal Service Funds 32,355,827 33,781,685
<br /> Successor Agency Funds **6,057,483 5,071,324
<br />Total Revenues 280,546,802$ 267,186,982$
<br />Expenditures
<br /> General Fund 114,820,251$ 117,767,750$
<br /> Special Revenue Funds 19,610,917 11,724,209
<br /> Capital Project Funds 24,614,789 19,794,963
<br /> Debt Service Funds 3,484,613 3,446,965
<br /> Enterprise Funds 73,440,920 76,359,827
<br /> Internal Service Funds 31,644,345 34,794,627
<br /> Successor Agency Funds **3,064,991 3,065,062
<br />Total Expenditures 270,680,826$ 266,953,403$
<br />Net Change in Fund Balance/Net Position 9,865,976$ 233,579$
<br />Full-Time Equivalents (FTE)568.80 570.89
<br />NOTE: Revenues and Expenditures are shown before transfers in/out
<br />*Includes $9,553,135 in FY 2016-17 and $9,784,737 in FY 2017-18 of UUT revenue that is
<br />transferred to the Capital Projects Fund
<br />**These funds are not for City use, but are used to pay obligations from the dissolution of the former
<br />Redevelopment Agency.
<br />8.D. - Page 3
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