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HomeMy WebLinkAboutAgenda Statement 1977/08/23 Item 14 Item No. 14 August 23, 1977 . � � � � �� CITY OF CHULA VISTA : � . � ' � COUNCIL AGENDA STATEMENT ttem r�o. 14 For meeting of 8/23/77 ITEM TITLE Ordinance 1762 � Setting Tax Rate for Fiscal Year 1977-78 - First Reading and Adoption SUBMITTED BY City Manager C� ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES_ NO X ) The City Council is required to fix the tax rate on or before September 1 of each year. The attached ordinance provides for a combined rate of $1 .25 per hundred (1 .095 General Fund, .115 Retirement Fund, and .040 Debt Service Fund) for Fiscal Year 1977-78. The attached report, prepared by the City's Chief Accountant after consultation with the Director of Finance, recormnends a combined ,rate of 1 .293, an increase of .043¢ and provides their rationale and reasoning for the suggested increase. We do not concur in that recommendation, although we believe the City Council should be aware of the reasons advanced by the Director of Finance for his recommendation. The two basic reasons are: l . The potential impact resulting from "property tax relief" legislation , pending in the State Le9islature. 2. Past and current year projections of operating revenue and expenditures. 1976-77 operating expenditures exceeded revenue by $613,597.—�- Estimated and budgeted 1977-78 operating expenditures exceed projected income by $695,181 if we include:ranti- recession income, and $944,759 if we exclude those funds. In a telephone conversation with League of California Cities staff on August 19, 1977, we were informed that while the property tax relief bill has not passed, its effect, whether we raise or maintain our present tax rate, would not appear to have a major impact. This is particularly true if the increase this year were limited to the amount suggested by the Director of Finance. It appears future year' s limitations on property tax increases will EXHIBITS continued on Su lemental Pa e 2 Agreement Resolution_ Ordinance� Plat_ Notification Liste Other Report ENVIRONMENTAL DOCUMENT: Attached Submit*_ed or. ; FINANCIAL IMPACT N.A. . STAFF RECOMMENDATION Adopt Ordinance BOARD/COMMISSION RECOhA1ENDATION ' COUNCIL ACTION First reading and adoption 8/23/77 , . , • � � � � : Form A-113 (Rev. 5/77) � . . Suppemental P.age 2 Item No. be based on an average of the 1976-77, 1977-78 tax rates. Since current legislation provides for a split roll and the City does not have assessed valuations on this basis, the full impact or implications of the legislation cannot be fully ascertained . The pattern of expending more money for operating expenses than is derived in income annually is of concern to staff. This concern becomes more acute if the following factors are considered: 1 . As indicated above, expenditures exceeded income during 1976-77 by $613,597; in 1977-78 it is projected that this figure will be $695,181 even if we include the uncertainty of revenues from sources like Federal anti-recession funds. 2. As related in the 1977-78 budget message, "The continued use of CETA employees, all currently employed to augment established levels of service, will make it difficult to return to a normal yet lower level of service. " If the unemployment rate should decline sharply and CETA funds are curtailed, some hard choices will be required in de- termining what the new level of service should be. 3. The continued inflationary pressures which result in expenditures increasing at least 3% annually more than income do� not-seem .to be lessening. It is apparent that if this trend continues, the City will have to look for new sources of revenue or reduce the level of services provided. Despite the concerns expressed above, we believe that the City can retain its existing . property tax for the 1977-78 fiscal year _without jeopardizing the financial stability of the community. Due to adjustments in the beginning fiscal year fund balances, we can project a General Fund reserve at June 30, 1977 in excess of $900,000, as opposed to roughly $800,000 originally projected, by reason of savings in last year' s expendi- tures and unexpected additional revenue. J I � � � _r:.�. ''�x��'^ ' �37` _ ��::`'`�":i ' - . _ '.,._ ....utr''" " :` -'i�:`,.. �..,.'w s—�,-. -::�I�� =�. ��:::.rfi:�.. ^�7>>_:– - e�.-�' ::Z;��*"-- "-�:-." '.T" _ '= r_ ;,y� - - ' - . - ' ; i.. - ' , ,"'` r't:'. -x1 .�.F-i�'Y i"-"2M1�a,i�:};f'�� ..StLL r.i,_f�' • �t�� • • �- � •' .�.-•�c•�:a' — {��:..:- jY�t' _�i� - .F:-�'� - �e-'r,'cs%t�",». '�-) ?'`;. 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'%f���.'- �"v,'v,:.>.��� �'a .`._.. �?"...- �a.� e� s"!??-:,���'.='�'o— •r'.T, �i}=F.,.'_.__i�v�+._: _ 4i; •N.R._1,� ...,,v,XC f'f'" 2'F.fi �''Si.?s��..'.:'�-'� `C� `�<" �-< 7np ='t:�-: y�iy. �� , .e: -�=, =`+�r�:,-^�� '' t-.:` :�b;: AT.. .fA R. •i.:*: r .Z+-.fl���_:` i'- . L..`,. �.,<r,.�a:;4.. ..�:�- `-:,fir;.:�,�"'_v`^'-�."i '^�Fry•`T�:,�`v.."=�.' �"` ,.:.�.. . - �1.::5:'- s .ri-.-..x.: , . .r. __ '- - :` + e: -�'' r:c•�::: r-', . ��.<4:�'_zs'��_NR�=;�%s:�.��'�'.��zs�:=��'z'+ DEPARTMENTAL� CORRESPONDENCE :A' . - ';.° -'':� ■�( y''- .r.:? ;t,. ,.-," y�:'` ';> � '� ,:S �`)/'p . -�'"�{.c�i.sw=n-} _ .4r<SY.. .T� _ . �. _;ti. - �iff'• .'_ ' • -�E-•'.' °�_J.�-'i,l'.- - _ _ .�. ■p/rr�,�. $:> -:f''1{, . Y.� �Sa:- .Fr'F.. " � -�. � ' - ; �.> � •�� ^ __ _ - _ -• ' .�a' ." �. .f.'' '_� _ . ....+ ' - �a..�v)stri`(,•• - Cs�x.:r.iy-�4'tp�i ��fv�' 'h. - .f'y:�,_. ;i{�ai�' y V ��'� �! _ •f'y,• '•' iGlr. K�~ � ���L.��' �� i��-+._ - •[� _ � _ •f ��. . I�� M1p.�_ .'''.it:� "a�.i='c.z.�:.i_ �.81ai�.^ - ��s`,�: :�4:`e,. . . �:C>:� ' :``[.. _ .`l•'�9- ^��.:i..t : ''- ' w'�, _cC-. �,:�:(�- .' '::'=' -f.� . - . %,r _ ..a:': - . _ i,' � _ : `. - Ty;_: c< ' DATE: -�� �Au u5t 18, 1977<- -:�Y�^�'- �'� _ ' ��� - '`� • ' : •',°.:�:.:� . . 9 - .:,: . . . . , . • . . • ,= r_�:�;s'x'j • , • - . . . . t/,'.`: : ;� - '`�. 7'oe . , � Lane F. Cole, City Manager � � ' - ' =c � - . _ • "' - " .:. , - ; ;f; : : _ VIA: Eugene Asmus, Assistant City Manager ; . • ' ._ • . � � FxoM:' . Rene P. Franken;��FCcting Director of Finance _.. :. , , . - , . � � . - . • . . .;: S[7BJECT : Ordinance Setting the Tax Rate for 197,7-78 First Reading � � ' , ' INTRODUCTION � - . The City Council is required �to establish the ad valorem property tax rate � on or before September 1 , of each year. . , " The Finance Office has completed�an analysis of property tax revenue esti- � mates originally budgeted based on the County Assessor's initial assessed � valuation to the actual assessed valuation certified by the County Assessor . � on July 1 , 1977. (Exhibit �:I)� : � - RECOMMENDATION . - � ` ' '� In order to meet our property taxes as projected, the Finance office � � � recommends a 4.3C increase in the current tax rate of 51 .25 or a new total � rate of $1 .293. BACKGROUND � The tax. rate adopted by the City Council last year on August 24, 1976 . (Ordinance 1705) was �1 .25. This fiscal year, 1977-78, the preliminary budget was based on the current tax rate of �1 .25 and a projected increase � of 12.5% in assessed valuations, as indicated by the County Assessor in _ ,• his estimate of May 16, 1977. The actual valuations certified by the � County.�ksessor on July 1 , 1977 indicated the increased valuations on the �.._ .� Secured Roll are 5% and on the Unsecured. Roll a decrease of 5,5%. The largest gairi occurred in the Pubhc Utility Roll which increased 13% over .. - last year. (Exhibit II). A substantial portion of the increased Public � _ Utility Roll will accrue to the Bayfront Redevelopment Project due to „ ._ - • the South Bay Power Plant being within the district boundary. � : •� The total amounts projected for property taxes in 1977-78 are 53,950,273. � � If we maintain our present tax rate of 51 .25, we will receive $122,532 . less than projected. An added 4.3¢ on the tax rate will yield our original projection.- . '. _ ._ . . . .,: . : . . . , . , _ ,. ,/ � • . , ' Cx.ty ob ChuCa Vta.ta, CaCi,bonn.�a � . . � . . . -� A 111 . . ` . ..�. , .- • - . , .. � . ..- - , •�n��;.,y`�ii,-: °:3�.2'f-�i .. _,i.. ' .a S,Yj�r1:s�' -.a2Si�'dL:,t=:_ iY: _'_ :i.;:t��"°"� i:j':.:�} '. ,'—r.^"-�- GiZ�1Fi��l.i!%9$'a+ �Ds°�.RySit.l_.isi ii�� `.t�.,s: ' ' C1.�� FC��:A?r}i.M•p.J "S' _ _ }.'�.:�:•�[r• -:-r�.s.�r�:' `.:5;"��i4:�.,.: t t C�o}=�'in?x�T,.-.:o-.'�').i'3:''f�.`��I'' �' - ,�<< �=j�,..� ^di:,'�=y..-����s'- fik_ Y°,��;�_�?;,F, u• :e�.�. °�i:�..;.- c . `";{ ,.>fr3_ . . _..i �.rr.x.^ :Lr�G� y.' t�*'a: ,.. �i�:%�kG_::} f'D+�{ �'i..,»Ft��-��a.r'�tb��'�s. " '�,i�--�� 'r v'-: _'.�c�:'"i 1X5` .,i`.�7 ."� •' ��•`:i�ri��v;'}.?" 1;3_�^ .. /��.y" �c_`.:, i:.r" �.-.,e,...°'s ..r:cs_::..: -x;" x,r ...,._ .a:'c'�.... :i;•: s• 3.3"_.:;....,;. { -r„;..'+ ,,..% .e'�s{ _-r. :#,:f::"ri7h,x_.. _ a..:... s.Y%:.it Gi€�:;�Ci:�_YS'1.�:7�r��,=.o..A'i{.t�kt-..="�`..i._�-�,{,':a'*aY-,•f,�i'<:d•.t'.r,�i:t�sr•i:�r� -•- :�''�'�jr." "'.`c_ir=:�'i`.l-::V,_' �ti.K�t:'�."�'«.`z:h:y�',:,S'g.y-: t r ,ry_��•'�:w: 7 'T''LV�'y" ,sif'Ct3' >w1;"?Zry,�. t x ��e�T� � .Y:.°�'a.r y(t:ts.'�;�Ei'v.z,N°f��c�. 'i' C(�-,� `Vpa• ' at:�i�''-};� :. i�-•• ''..1G.:c •i�±G�rr:a�:r'",i<+. �:1''�:s=':..;�' ,y� ' r^' .s,':i ,it,+a��. 4 -l` 3E1{" .�J�eC1.a�y>�?�.+ �2 r.. ✓^Q3. �t. a '4Pr yy" 1�'rJ?�L{���f9.F'i 3-� T"+ e-L:.� �Tt4 ���'.�:•}'�W'€u���`,-. Mr�4:�-',� -:e !4.-LTY:-K1��`'. x�..�r`1:�.a'F�;t}�,-�'/is.t,;:��'f.,�..r"1> -� i'-""� a' r�: „ _ . ?P'.: � .r .: $ i �(� - �' h� _`1f. � '1��j�4� . �5�. .tf�+�.�'.�. � •1 . ..{,tl�.�. }J:�_.'Y�M1`.1'FYfn.�r ��J'..� ♦�a����i'f� .. .:�s<:� : -.w.T ee:F'°+tir�srii°:5: �� .'z.c.sLt;�4. - �'::� � . - .,. `. t' •� �•-.: �:v, : 'M`V, ' ��'??::'., t:�,'.:.:L'-'i`aY.:_ Y;.` :^i^-ti q,z.,..,v1. >i,ii.-: '. i . z`=r� ia:a��i'.�{'e:� . .z . . � - ...'_ : .. ' -'>.'r...2:•v'.�'io ! ., . ��+-� ^� ��- : "•. . yF�'.' '_-• 'r .�'�o-:��'.'-:!.:', � :l,^-:.; t.r. L_ : c. � � . . .. .. . _ . � _ `i M-. "7i Gn F=�;r :�;i, ;�.� The impact to the General Fund is $106,556rvor approximately 87% �of the,..,�f. :�-�.- - - : �- _- •. .,'. �F total $122,532:`�_This difference of $106,556 in the General Fund can be �.; .� -=_ . - �'„�,::`` ,:- :�_�::- more than offset by the unexpected• increase of $223,360 in the General '`�:'. - :-;::,;�,- _ Fund carry=over balance, as reported to Council in our year-end status of . � ,-: •� .:.`�'t: � City finance's and operations. If this is done, we would have a General�_;_'�,�:`r,�?�<;,„,; Fund reserve balance on June 30, 1978 of �922,145 or $116,804 more than �`� ` ��� :�� �_r ��� , original ly estimated. It should be noted that currertly, Budget Appro- •-�°s� ':`' �_"�' priations exceed Estimated Revenue by $588,625; add to this the 5249,578. L : :"...� : Federal Anti-Recession money that cannot be relied on, and the $106,556 ' ' if the current tax rate is maintained and the result is a total reduction � in the General Fund reserve of $944,159. (Exhibit III) ; Another very significant problem that can impact future property tax revenues is the pending legislation in Sacramento. The final outcome of this legislation will contain measures to limit proper.ty tax revenues in - all California cities. This limitation will be related to the CPI or to ' some specified inflation factor of 6 to 8%. Also to be included in this � :-�� � � law will be the Base Year or Years set by the legislature for allowing " ' revenue increases in property taxes. It seems very possible that 1977-78 �. will be the base year to which all future revenue limitations will be ' - tied. CONCLUSION Because of the need in our City to strive to have current revenues meet �- - current expenditures and not continually rely on a significant General Fund carry-over, and because of the critical action now being taken in . the State Legislature in property tax reform, I would strongly recommend we set our tax rate at 51:.293 which will produce the property taxes esti- mated in the preliminary budget for 1977-78. RPF:mc ' � - ..� .1 ., I � �� '. . . ' - . . .i-.E�Fa'-'s�T=.2�'t��-�ti=`i.".=.:i:.—y7..i.:�c�r .:•�f. �a>�-ii� �� -c"i::',t�.r.::." 'YV� .r�.' ' .�-- - - a �` �f r�^s., a. .. .{,' r " r _'3� ` . . �r " ' y . ' � Z�i+t�'ti.�k�'�,i�,��" oi. '�bS-� ',�,'„_:t��s+'FS�.�•.�a.�'•-ti%t:_��'y'"-�',:�-,ii�•'',.S.p�c.�dw' 4)5 �''�#'' f;- :• I �y' M1'r ��.i .H-.{-='r_. . ?...'-.."-' =':`... . ..fi '. 'f:.y� h.-A=±f-.e�f :�?:4�'t it'S+'.� .t" t r++"� ' ? '_Y- �f�,�' 9't'��{-`�.'7 4.. -^•'�.1.:,^�,'^'v'i=, .6'"'53.� r �{ 1�� +-i.�a s- 'r==��a.f ' �r i i. G��3]:6. %t�..�r.4:i. ti�= t sY'1s"' W 'r �:s.�fi ^d�:Sr'T�i' _� �L'"+3' `��`v:s:;^J. . �,_„F_� :.'1' .. ..�.? -t `�tir=v_'_�sY>� C'. .- "p ': �=:_• ���rti n.:�.=�Ltr:#:t-r.Z��1� .'7JV'y?�tr,��r�.r4,:,_,•rr?: i.>��J3�. - 'z��t�YT�'.F`� N'� 'w:•�..i';_�yl^': ��..� ��+.0 1: ::;t�= - �r.;v-..,. �.t,F s=�5;�.p ;,r:. s,o ._.:,y,; y. 4.N� a:',''a��.a., , �$:,,�•',s�� _,�s$��;[�, '��.� z::s� .:,. .i:'._.L� ' -•:<_.: ...:a. }l i� ' '- ;::c � .;:';, .:i�f.��..y,�.v'i�'��',�.�.-�Y"'''a{r"� :' ,�1�;{f.��_.t1c'_- '�'„�s3�i✓Y•'3�-;'•`:i�-'�'��r s ��'.,�> :'7`..•'c. ' -` ,.:��>�i`.''v.:V-�r:.¢:.'"'�a �t "�+� ,. ,�r� ,., .,�: ,. <_, .�` �'rc�r� � EXHIBIT.=I,:. .s-.. ..L�.,,:�,: 1#.?s�$'�,,:j'.[;:*� :Y�=;.:�ri=6 ;t`.:i..i�;.y�: �u.n;',�..,�i.Ltip> '"` y�i�.�.:'y,-'q�"-�=�M1'�S:ft`•�t u'r, ,z. �r,.b�a-y. q_ -.� .. E�.>>.; _ , f �-...�. 7� . )�. -s:z�". :��� i:..,..:: � 'c��"t., 3,"'-< r, .r 4 :. '•." a „r ,��`'`�.�.�, •.f''.,' ." Y F _ . , -'s^."'_ js-. ',n�,,,^ , ,t__::-�=n. .'�`��= _ .,�..o, -'r•J ".�,��t��'���'y�'=��ANALYSIS OF PROPERTY TAXES°.�:..s'..'_� :,�=,.".. �. ,,"� v-= ,F'.• ���'" - �'��;�-- �''�_:'t=`'-`�' .BUDGET & NECESSARY TAX RATE "=" _ . . '�. - '�;;` - �" . . ;� ,�.jy;�,�" �,.'>:'�4:,;.a.� , '.� - • ,'�' 1977-78 - _ ' ; � , : � - n .yv:'a �;r , s� '';� _ -.f, 1.:..i.:= . • . . . :-. . ;d: ' �. - . . .�# •�. 7�'7$ _ . . .t.L ' � ,-' :. '�� _ � • - . ' ' :;:' " � . CATEGORY':�� . " BUDGET=� �" ACTUAL . = COL 3-2V`r`=?�-�� ACTUAL � COL 5-2 � � � • � TAXES .: ESTIMATED'�.' @ 1 .25/100 DIFFERENCE @ 1 .293 DIFFEREP7CE y . - ' _ " PROPERTY ; - : ' � , • . - . Secured , 3,344,786. � 3,247,416 ( 97,370 � � 3,358,514 13,728 � � • - - � Unsecured ;185,612 175,866 ( 9,746 ) 175,866 ( 9,746 ) HPTR . � . Secured :> 310,437 303,979 ( 6,458 ) � 314,436 3,999 . r � BITR . . . Secured 4] ,725 43,260 7 ,535 . 44,748 3,023 Unsecured 67,713 57,220 ( 10,493 ), 57,220 ( 10,493 ) TOTALS 3,950,273 3,827,741 (122,532 ) 3,950,784 511 ' . , . •� b� � - - -- ... _ . �. . . -. -:_.-.�_ -__. ._ . . - . . . _FF SY~r���.�w.;'t�<..l]: .�r.�".;'f..e� ._�. - �-> '.+.C.:-�r'W'�'^T*a¢T:R�.�r'E�T.�Na^�..�"X':-+�weTiS-���_�1 ::���l' r�,` ...6,0-;.--�5'. ._L:t� Y`+..�:�'''''�yct�" - i`.s�?:•"5�' ','.�'��icy,-.t�,;=rr�.` - - - - ":'c'.� �:t.:.:"`'.. ,�[, ':w�,;'t"� .�} ��4:?..y.F�S't�i'_'t. - t�.:.,.. I .i;v..�..- ',s..,,aJ.;^`73;Cr:� °;'i.�ri:.:�:�_ e�,':,.i� �..G''i ;Y."w�r.3^,.E:-it= �:1 .i_ :rj' �i:1,-:Y.;&.�2'�':'-i�.::7^. . :�4'.�`i[Y.:�v, _ .J; '&: '��:�.�4:t.':;... '�s,�r..-` .h- "E� � ^f.fL.. -gC- ..s' '- -'y9 !{ _ "='� ' _' .., '" c.+. �'7.=">.l`�y"k.,i F°:.�=:'x�"'Y:j�S.:' '.:�v.;y.. . .,Ylf�• _.'v:� . i.._i'��^.•. :��_.;. ' *•"'r`-� • ''<---��' .;'_`, '3 .a�.. :1}%�.t's.:'rc....:` ti� �" avid, yt _'�S: ♦ �i �. � , •9 f :;_• .' SV- _:`. iyi _ _ ��•K�•V� �v �� V'_.:'•� L?i_i��-yi " ••�� � '�� r_":.�'F<�`"•'..c.�i::'y`�:�':r i{:���,rt�,�'�. ��'s_s' 's�•``t:+ji•�r�`.r,`,F-'�I; `;ti�.9R��r?''i:^'' -`„=,�y.;:�,:?`� _ ' `'i?T -'� �.o-� :Yt ' °:,,5`rcl �i�t �k'�r>=i3r.-_�� . �r �.e�. �r`" �,:: <:.:Y t EXHIBI =>'� �`:- ,. r. �.'�' ,e�k',�.��,�'_ Ms_. h.�;a �,m� .�_.�;..'''-�'.s'si:; ,�-.� �.. .p:.:�,., -_ Tr I I��::.;�-t;.�,� �^ '_�.�i:e� ,�t-�.,�.;Y-.F: '...� .�n�.f�s%;. _:xv`�... ,.2_Y.�>j �.2�.L. i.L�Tr=`.r.f»..;5't.:l��._.^i_.1...i.;u':>�j::^+..�• - :.vR='�p;;'`'✓,y'�`�: z tc r '�3i'. - r_i;'f``.•q+_ •. {� �`t .. .�tt.,a i" ` �'• . � _..;.L� � `�:�f�•'t '°' .•c; �t.t'`�?`: 'y-J � f . i?.". i-�:': ..rFl .. �, ' `ii . � �r_-�a . . . -� , �:l:s'i.' "'CC-'.._fe` :-F=..�:�:�:> -1;'` �. _ . �.. . � .: '. ' ". • . ^r; ''+••-:_ _� ' . � ' .. ;:,�; " _ "� _ • � ASSESSED VALUATIONS ' �.�:'.:.. - ��� . :,s:� , . . _ •-.��',~ - . . : ESTIMATED AND ACTUAL .^' _ - - - "� V .l. . . . � f . �,,,. . _. .��. _. . �., Y . . . . . :• , - , _ � . . .. � � ° � '"' ` Secured Rol l. - ' � � :,. � � . " Estimate , _ 1976-77 Actual Countv Assessor 1977-78 Actual Land .. 82,449>807 90,695,000 87,281 ,424 . ImP• . 152,728,731 174,950,000 166,766,869 . .� Pers Prop 19,128,311 19,200,000 13,520,786 � i • � � ' � Reg Ex . 8>482,812 ' ' 8,907,000 ' 10,001 ,204 " . ' . �K�J'� r� • . 245,224>037 275,938,000 257,567,875 % Increase r 12,5% 5% BITR 6>361 ,107 6,138,000 3,183,217 HOPTR 23,652,650 24,835,000 24,378,350 215,210,280 244,965,000 230,066,308 % Increase 13,8% 6.9% Unsecured Roll • � _ 1976-77 Actual .•. Countv Assessor � 1977-78 Actual : � . Gross 20,687,169 20,688,000 19,194,309 . Reg Exp 118,077 , 119,000 260,194 . _ 20,569,092 20,569,000 18,9s4,115 BITR 5,476,700 5,417,000 4,577,646 • _- -—_ 15,152,392 15,152,000 14,356,464 % Decrease 5,5% t � � Y . .. . ;,,�5�-'•"' _c'__`•a"':s" _? '!"..�_ ' �` ..�y: _ '!=' _ :�'" . �..�`" .. ..� •i-• .. �'>-. - - - ':" :.- �Y` ' .�i ,e�" �3.�.`:(;�'f% "_ .:ta�� strs.-n�sre`�� ,'�. tY• :i ..��R` �i{': _ .y� ' iti. <_ �'�-.;` �ii,'�;?�'.r�/Y. .� 'r'.i�"` �ri, K'.`:�_Y.p� ..: .u_.� • =� �;q�r.... "�,w,.��;�s �-:��•'.� ' •..{;�..= �� - :�_:r.��� `.c:,s_.1.. �^?t,�✓�F*..li.�`.:e': !*: :�':: u SX. r,'�'�ii.�t•���wf,'4''�:� •,r:•'�• vy -�M i':•��.'C=e���'3�'.'n'�.ay •'�' .0_ ..;✓,. ' �Y` q•j,�F-s.$ }'= ' ' . — ' �''. ( o. %t�, q.�i_ ,3� :��'_ =.';f i.`.�-" �:�Ir) .�:- ..i< <F- -z„g "�Fi�^._ '3=� r-: t! '. . -," _ ' �'y� - ��! a� =ry. f� : ¢{l. �.i�:+ c:%�;::` f. :,��fr'✓�+r.�._�=^;";�"j tr'. �r�^t'� .�'S�i,t^• , i:{~'T��,�'�,ti.� " �T}Y-si."-T.:' 1 j.?�F3:. �_�j�_'v.�i�•i���a u Zt!'Y'Y.a���,.r�_.':d f� ��ia�i.Y�e•• :f:-.li�.6�:a4I'�w _:'� . �.;.�:r�� Y;;� �;-,r.r.�_ f�r:tr. -�-.��'t`_X•;,v'�•i '- e Y.�:..cf:S'a... 3 t_.. ,�'t;'i=.i"`a%.,_.�->ck�.:r�..- ':��:�1 ..}`: � �.� `�::� `�_����*�;"�a�.-'_Y 'a+F 4� /: ��v�-��:: -7,.�,�.�:�:�Z' ' G� �}'y !' �f�> '��" �iS �i:U 'r�f ��.Nori-Si, ,�.�,Y S f "# �:x�" �Y.. L�i.` { v�'. - r<^v . �"..; " .: ' s. i 4 `«' f , �y '" ..z. ��: - EXHIBIT II (Cont d) � ra_bF�a3, ifri'a.�•� - �i�'tlk � V�EC� :."t�.: :J`... . :`'t:T`.S.' `. _ ; . ' ' wN:.,:.. � . ! . � 4.. �}Jn�OC. �.-'b'/ 4.� I '��� � - -v.��t�`O'H <�-'�.pr..�... _ ,1: :_ •- ' � =iY 1 '9�� :: .-�'. . `.. _ r. .. :54:"'• 4i'}�:;i-e=°�,� -'r:` _�. �.�:t:, ;'+` . :iy.� �rA. - � � .`.f�ti � • �... �� ti�.� �. . . �-1.•,. . . � s,R . - . : :' . � � ' : �,-'"; . � UtilitY Roll-'�1 - . .:..: . . . ... . . � . _%_ _ ':,` . ..-..,.' _ . . _ ... � - . ��Y � . � �' � 1476-77 Actual. ,:,:- _ -. ,'; ; ': ` _ . .�`* _ . - . 1977-78 Actual ' " Gross•��.,�� .. �.� 35,504,700 � � " � ' -. ' 40,134,390 ' - .. - f �_ ' BITR�r. • 223,275 _ . 277,545 '� ' 35,281 ,425 , 39,856,845 % Increase. � ' 12,97% • ' . ' . . _ , . . � . . • . .__ , ". :i �b.Y. . . .- ... - , . . —".i':�'_��.g� ""'-'''7"� :;'_-5>=sr�. 'a�t'': ' 'q.:'y°.� '.�...a:.� : �i:��- �.s-�i z. _ - . :,:_ - ;y � .. '."�F.. LL,"" "ti.i�1�.-•}{.a+,'.�•- _ ! ,�-.....`' y �. "•.i -'- - _ � ij?1�� u1•.�t. �.<. ':L �:- Y'Yb� 'z„- ,.:e%;4; •«<i.:_e. =�c��:Li`'-, �:�:;�,;�^ .� . .�' : .:. cF:�,:.:_ _, :.3..'.1 „�" �.::i:."���%..:srs f �' K 's:��.;.::_T,i±. -.JS�. �.r..� r` • r r '`l i.+' Z yR'f�i'-y^. �4��^I s�Sa1 � � �} . s'� �`a{GCi�r`-YT..w y� �' i��i...�i:..•i;�'���5-L b `''� e..l;-v 4= r."3 _ z_ e's )�• vs �e .. r ,,.s, �" j�' �q s y� } Y rt) t ..�. �2=•y^-'.4/u2':y2 r � �"=`i'�1.'`-`k-�':"�':;:-s�3�a`">ekf " �?C�"1`?lr�.Jl���i�r.'��'��^-'7 -a''.?,;tiy,4<:.$wF�`=.�•� s:i{-.- .t'-sd-`:J.# [. '' � - •....,...�. �� ���._ �r.`�:G'c:�y���� ' r�y x ii;s==7 A�. r�;;.n.d:��;'_x2:.'�?:`;:y.r"..��'"13:fi :J_� E� li I I=�4�:���s-.:.-::. ;.,.r .��;�.�. � �- �/ .-�:....� X IBIT �I F-�.. �;r=_�r. ..F .• 'f �1'7F�... .f.i%f`: .`c�-: .ia'i;._ ..isN7.'{s�:� Y.:"^"a�, s i'�+.iF�F=YR-��i�.NY�.'F1��'"�N�e.��/+•' ��_ 'L^'r3"f%�`�-� �:.... t ''e=:: .-� . a�'. � i ?� i.' �':.,l.. :a ,—',.'T-�.uHp=;.. �ti'..".�- - +��i : ct`_;r9<E�.�•� .-.��is� _ .'s.. i_i ..z"'� ' .: _ _ - _ '�"- .. . • ..t . ' Y :i� ��' 'iyr�..�� ._ � .r, � � S �ii Y • • _ ' � �F>' '``y�} � �s _ - 6ENERAL FUND'RESER4E REDUCTION� .�� . ` - '�;;; , r� ;..�: ', �:,�, . �`�%'<,�: s�,4' � �,`�;� - � 1977-78 .FISCAL YEAR : - , . :: • - ;� ". . ' . . . �:s . : • ��' . ' . . . ... . " ' • . _ _� : . Actual balance July 1 , 1977 $ 1 ,617,326 " :, . . .. Estimated Revenues � .. Property Taxes ' � � � ` , • � ' (Using County Assessor's valuationsJ $ 3,104,882 � - • � � . . � _ Estimated Other Income � 7,J118,158 � , �� � � Interfund Transfers � 792,555 Total Estimated Revenues $ 11 ,315,595 Operating Budget ( 11 ,904;220 ) General fund Reserve Reduction ( 588;625I_ � � Sub Total 1 ,028,701. Additional Reductions Federal Anti-Recession Fund ( 249,578 �. Property Taxes ( 106;556 �_ Resulting Balance � - � 672;567 ' . 1 . . .. _. - �: •�! '� ' I � LV