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� <br /> City of Redwood City <br /> RCdW00d Budget Study Session <br /> CI�V HuoleArlee�i <br /> FY 2007/08 <br /> � - - General Fund <br /> Budget Assumptions <br /> • Secured property taxes increase 6.3% in FY 2007/08. <br /> • Overall sales taxes increase 5% in FY 2007/08. Costco <br /> closes for reconstruction 1 st quarter 2008 and reopens <br /> 3rd quarter 2008. <br /> • Includes development fees for all reasonably <br /> anticipated future projects. <br /> • No general fund support for capital projects other than <br /> transfers of utility users' taxes and the one-time <br /> transfer of $466,000 in FY 2007/08 to partially finance <br /> ..e� <br /> the construction of the Redwood Shores library. -�::..: ..��� <br /> • Phased-in funding for retiree medical benefits. <br /> 7 <br />