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<br />5 ~ ß- L - D CD <br /> <br />Projected FY200S/O6 and FY2006/07 General Fund Budgets <br /> <br />Assumptions Relied Upon By Staff <br /> <br />. Sales tax revenue: <br /> <br />3% to 4% annual growth. <br />The retail/cinema project opens in January 2006. <br />Century 12 site generating sales tax in FY2006/07. <br />No further losses from electronically delivered software. <br /> <br />. Property tax revenue increases 4% to 5% annually. <br /> <br />. "Excess ERAF" rebates continue at $1 million annually. <br /> <br />. No increases in supplies and services budgets in FY2005/06 and <br />FY2006/07 with a 2% increase in FY2006/07. <br /> <br />. Each bargaining unit will forego one or two years of a salary increase. <br /> <br />0 The three non-safety employee groups will have each given up two <br />years of annual salary increases. <br /> <br />0 Foregoing at least one year of salary increases is assumed for the <br />safety employee groups. <br /> <br />. No increases in staffing levels except for those associated with the <br />opening of the Redwood Shores Branch Library in FY2007/08. <br /> <br />. The only other increases in salary and benefits costs will be due to <br />increases required under labor agreements (e.g. negotiated salary <br />increases, retirement costs, and health benefits). <br /> <br />. The revenue estimates presented today are very preliminary and will <br />chanae before the FY2005/06 budget is presented to Council in June <br />2005. <br /> <br />Assumptions for 2-5-05 v.2 study session <br />