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<br />5 ~ ß- ~- þ ~ );2... <br /> <br />Projection as of January 2005 - Option "D" <br /> <br />Total Revenues <br /> <br />Total Expenditures <br /> <br />Adjustments: <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 />829 <br /> <br />2007 -08 <br />72,342 <br /> <br />(75,022) <br /> <br />0 <br /> <br />0 <br /> <br />1,234 <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 />75.00% <br />(829) <br />(2,487) <br /> <br />Reserve Analysis <br /> <br /> 16,948 <br /> (1,308' <br />24.09% 15,640 <br /> 15,640 <br /> (2,487) <br />20.11% 13,153 <br /> 13,153 <br /> (1,214' <br />17.15% 11,940 <br /> 11,940 <br /> (955) <br />15.18% 10,985 <br /> <br />2005-06 <br /> <br />Reductions as a Percentage of Expenditures: <br />"across the board" <br />"no cuts to public safety" <br /> <br />1.21% <br />2.81% <br /> <br />(1,618) <br />-2.27% <br />-2.32% <br /> <br />75.00% <br />(405) <br />(1,214) <br /> <br />2006-07* <br /> <br />0.57% <br />1.32% <br /> <br />(1,447) <br />-1.96% <br />-2.00% <br /> <br />66.00% <br />(492) <br />(955) <br /> <br />2007 -08 <br /> <br />0.67% <br />1.55% <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 D <br />