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C i t y o f R e d w o o d C i t y <br />C i t y o f R e d w o o d C i t y <br />Budget Study Session <br />Budget Study Session <br />2008-2010 <br />2008-2010 <br />Budget Assumptions <br />Budget Assumptions <br />Sales tax revenue: <br />Sales tax revenue: <br />• <br />• <br />–Declines in FY 2007-08 and FY 2008-09 <br />–Declines in FY 2007-08 and FY 2008-09 <br />–Projecting decrease of 1% in FY 2009-10 <br />–Projecting decrease of 1% in FY 2009-10 <br />–Additional losses from electronically delivered software <br />–Additional losses from electronically delivered software <br />–Costco closed in April 2009 and reopens in November 2009 <br />–Costco closed in April 2009 and reopens in November 2009 <br />–Car dealers <br />–Car dealers <br />Secured property tax revenue increases 1.5% in FY 2009-10 and <br />Secured property tax revenue increases 1.5% in FY 2009-10 and <br />• <br />• <br />0% in FY 2010-11 <br />0% in FY 2010-11 <br />“Excess ERAF”rebates continue at $2.5 million annually through <br />“Excess ERAF”rebates continue at $2.5 million annually through <br />• <br />• <br />FY 2012-13 <br />FY 2012-13 <br />0% increase in supplies and services budgets in FY 2009-10 <br />0% increase in supplies and services budgets in FY 2009-10 <br />• <br />• <br />18 <br />