REPORT TO COUNCIL
SUBJECT
Title
Discussion and Review of Potential General Fund Revenue Opportunities and Budget Amendment
Report
EXECUTIVE SUMMARY
The purpose of this presentation on revenue options is to keep the City Council focused on the fact that the number one priority must be to stabilize our fiscal outlook to preserve service and staffing levels, generate more revenue to meet expenditure growth demands, and develop strategies for unfunded needs/projects. Combined, both revenue and expenditure strategies are needed to balance future deficits.
The following information serves as the master report for revenue opportunities for the City Council Study Session that can be considered for the 2018 November Ballot. During the January 2018 Council Goal Setting Session and the May 22nd Fiscal Year 2018/19 Proposed Budget Study Session, the City Manager presented the City's 10 Year Fiscal Outlook which forecasts structural deficits over the next ten years. During the January session, the Council authorized staff to return with an analysis of revenue options and, by consensus, expressed support to commit to solve annual deficits with sustainable budget solutions such as on-going expenditure reductions, increases to current revenue sources, and/or identifying new revenue sources to stabilize the City's future fiscal condition.
Additionally, the City has a number of unfunded capital infrastructure needs and the City Council held Study Sessions in 2017 and 2018 to discuss infrastructure. These unfunded needs include major projects that affect City services such as the Civic Center Campus, City maintenance yard, and fire stations and also quality of life improvements including parks and recreation, and community services facilities. One of the major projects from a need and cost perspective is the International Swim Center (ISC) and Community Recreation Center (CRC).
Over the course of the last few months, staff has worked on revenue options for Council con...
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