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<br />B t ß- t~ D I ) D <br /> <br />Projection as of January 2005 - Option "B" <br /> <br />Total Revenues <br /> <br />Total Expenditures <br /> <br />Adj ustments: <br />Revenues: <br /> <br />Prior year reductions <br /> <br />"lnitial"Deficit <br />Deficit - % of expenditures <br />Deficit - % of revenues <br /> <br />Percentage of deficit covered by reserves <br />Expenditure reductions $ <br />(Use)/addition of/to reserves $ <br /> <br />July 1, 2004 <br />drawdown <br />June 30, 2005 <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 />2004-05 <br />64,927 <br /> <br />2005-06 <br />65,395 <br /> <br />(66,235) <br /> <br />(68,711) <br /> <br />0 <br /> <br />2006-07* <br />69,621 <br /> <br />(72,068) <br /> <br />0 <br /> <br />1,658 <br /> <br />2007 -08 <br />72,342 <br /> <br />(75,022) <br /> <br />0 <br /> <br />2,187 <br /> <br />(1,308) <br />-1.97% <br />-2.01 % <br /> <br />(3,316) <br />-4.83% <br />-5.07% <br /> <br />(1,308) <br /> <br />50.00% <br />(1,658) <br />(1,658) <br /> <br />Reserve Analysis <br /> <br /> 16,948 <br /> (1,308' <br />24.09% 15,640 <br /> 15,640 <br /> (1,658' <br />21.38% 13,982 <br /> 13,982 <br /> (260' <br />19.71% 13,722 <br /> 13,722 <br /> 0 <br />18.97% 13,722 <br /> <br />2005-06 <br /> <br />Reductions as a Percentage of Expenditures: <br />"across the board" <br />"no cuts to public safety" <br /> <br />2.41% <br />5.61% <br /> <br />(789) <br />-1.12% <br />-1.13% <br /> <br />33.00% <br />(529) <br />(260) <br /> <br />2006-07* <br /> <br />0.75% <br />1.75% <br /> <br />(493) <br />-0.68% <br />-0.68% <br /> <br />0.00% <br />(493) <br />0 <br /> <br />2007 -08 <br /> <br />0.68% <br />1.58% <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 options option B <br />