2015_Approved Budget and CIP.pdf

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City of Roseville — 2015 Budget Discussion Items From 2011-2015, overall funding sources for the City's governmental fund operations have remained fairly stable with a few exceptions. Since 201 l, the City has become more reliant on the property tax to fund current operations. This has resulted in large part due to the added debt service costs associated with the bonds that were issued to finance the construction of a new iire station and the park renewal program. The City's reliance on the property tax also resulted from the decline in interest earnings and other non-tax revenue sources during this period. � $19 o $18 � $17 $16 $15 $14 $13 $12 Property Tax Levy 2011 2012 2013 2014 2015 Over the neXt 5 years, it is expected that the City's taX levy will need to increase at levels that are somewhat above inflation. This will be necessary to offset expected increases in personnel-related costs and to continue improving the City's asset replacement funding mechanisms. The City expects to see stabilizing investment earnings over the next few years — albeit at lower levels than a few years ago. While cash reserve levels are expected to remain relatively unchanged, long-term interest rates remain near low historical levels. Charges for Services also remain a significant revenue source for the City, accounting for approximately 12% of total Governmental Fund revenues. These revenues include; internal service charges from the General Fund to other general purpose functions, IT-related charges collected from joint partnerships, and recreation program fees. These revenues are expected to grow at inflationary-type levels in the future. They are depicted below. 16