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City of Roseville — 2014 Budget <br />Discussion Items <br />From 2010 -2014, overall funding sources for the City's governmental fund operations have remained <br />fairly stable with a few exceptions. <br />Since 2011, the City has become more reliant on the property tax to fund current operations. This has <br />resulted in large part due to the added debt service costs associated with the bonds that were issued to <br />finance the construction of a new fire station and the park renewal program. The City's reliance on the <br />property tax also resulted from the decline in interest earnings and other non -tax revenue sources during <br />this period. <br />Property Tax Levy <br />$19 <br />o $18 <br />$17 <br />$16 - ooe! <br />$15 <br />$14 <br />$13 <br />$12 <br />2010 2011 2012 2013 2014 <br />Over the next 5 years, it is expected that the City's tax levy will need to increase at levels that are <br />somewhat above inflation. This will be necessary to offset expected increases in personnel - related costs <br />and to continue improving the City's asset replacement funding mechanisms. <br />The City expects to see stabilizing investment earnings over the next few years — albeit at lower levels <br />than a few years ago. While cash reserve levels are expected to remain relatively unchanged, long -term <br />interest rates remain near low historical levels. <br />Charges for Services also remain a significant revenue source for the City, accounting for approximately <br />11 % of total Governmental Fund revenues. These revenues include; internal service charges from the <br />General Fund to other general purpose functions, IT- related charges collected from joint partnerships, <br />and recreation program fees. These revenues are expected to grow at inflationary -type levels in the <br />future. They are depicted below. <br />16 <br />