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City of Roseville — 2008 Budget As noted earlier, the City expects to continue to see fluctuations in investment earnings in the coming years. While cash reserve levels are expected to remain relatively unchanged, price fluctuations on portfolio holdings and required accounting practices have resulted in market or `on- paper' adjustments each year. 100% of the principal investment remains intact. License and permits revenue is also expected to remain near current levels for the foreseeable future. The City is not anticipating any significant changes in the issuance of business licenses and permits, nor do we project that the regulatory costs incurred by the City will change in any significant manner. As such, overall revenues should remain largely unchanged. From 2004 -2008, the City continued to emphasize its core functions of public safety and public works. In 2006, a substantial investment was made in police and fire information systems including a new records management system and conversion to the 800 MHz radio system. Also, the public works area is realizing higher operating costs due to higher energy costs and service input costs such as fuel. It is expected that these higher costs will continue in future budget years in order to maintain service levels. Reflecting the emphasis described above, as a percentage of the General Fund, Police, Fire, and Public Works costs have steadily increased during the past 5 years. This is depicted below. Higher public safety and public works - related costs have been somewhat offset by lower general administrative costs. From 2004 -2008, general administrative costs remained largely unchanged. Since 2004, the General Fund balance has declined by approximately $300,000 or 6 %. This was due to the use of reserves to offset the loss of state aid. 21