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<br />5. B-c~j) t q <br /> <br />Projection as of January 2005 - Option "A-Updated" <br /> 2004-05 2005-06 2006-07* 2007-08 <br />Total Revenues 64,927 65,395 69,621 72,342 <br />Total Expenditures (66,235) (68,711) (72,068) (75,022) <br />Adjustments: <br />Revenues: 0 0 0 <br />Prior year reductions 2,222 2,447 <br />"lnitial"Deficit (1,308) (3,316) (225) (233) <br />Deficit - % of expenditures -1.97% -4.83% -0.32% -0.32% <br />Deficit - % of revenues -2.01 % -5.07% -0.32% -0.32% <br />Percentage of deficit covered by reserves 33.00% 0.00% 0.00% <br />Expenditure reductions $ (2,222) (225) (233) <br />(Use )/addition of/to reserves $ (1,308) (1,094) 0 0 <br /> <br />Reserve Analysis <br /> <br />July 1, 2004 <br />drawdown <br />June 30, 2005 <br /> <br /> 16,948 <br /> (1,308) <br />24.09% 15,640 <br /> 15,640 <br /> (1,094\ <br />22.24% 14,546 <br /> 14,546 <br /> 0 <br />20.89% 14,546 <br /> 14,546 <br /> 0 <br />20.11 % 14,546 <br /> <br />July 1, 2005 <br />drawdown <br />June 30, 2006 <br /> <br />July 1, 2006 <br />drawdown <br />June 30, 2007 <br /> <br />July 1, 2007 <br />drawdown <br />June 30, 2008 <br /> <br />2005-06 <br /> <br />2006-07* <br /> <br />2007 -08 <br /> <br />Reductions as a Percentage of Expenditures: <br />"across the board" <br />"no cuts to public safety" <br /> <br />3.23% <br /> <br />0.32% <br /> <br />0.32% <br /> <br /> <br /> <br />* FY06/07 revenues does not include the State's promise to make a one-time only payment of <br />$1.3 million for FY03/04 VLF revenues <br /> <br />Feb 05 2005 budget reduction options1 opt A-updated <br />