Annual_Budget_1988_001 - Laserfiche WebLink

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SECTION I Financial and Management Factors Indicators of Economic Growth The City's economic centerpiece has been its very successful retail activity. This is evidenced by Table "1" which indicates retail sales increased $308 million from 1976 through 1985. This is at an annual compounded rate of 14.5 percent. Subtracting the average CPI (6.5%) percent of increase leaves an 8 percent net annual new retail growth for the ten year period. Another indicator of growth is the number of restaurant licenses which have been issued within the past eight year period. In 1979-80, there were forty-nine licenses, and in 1986-87 there were seventy-five licenses, or a 53 percent increase over the eight year period. During the same period, the number of liquor licenses increased 58 percent, from twelve to nineteen. The following are the number of restaurant licenses: 1979 - 1980 49 1980 - 1981 57 1981 - 1982 58 1982 - 1983 61 1983 - 1984 59 1984 - 1985 68 1985 - 1986 71 1986 - 1987 75 I Total building permit valuations (see Table "2") have increased from $12.8 million in 1983 to $47.0 million in 1986, or 267 percent. Concurrently, the average value of those permits have [-" increased from $68,000 in 1983 to $200,000 in 1986. This suggests a dramatic shift to business building activity. In 1983, the non-residential permit valuation was $5,534,026, and in 1986 it was at $37,937,360, confirming that an increasing rate of ' business investment (relative to single family) is occurring in the City. Tab1e "3" further confirms this economic turn around. Income from building fees and permits rose from a low of $130,000 in 1983 to $300,000 in 1986, an increase of 130 percent. This will incrementally and ultimately increase the demand for City services, particularly as they relate to code enforcement, police, fire, and recreation. It will also affect other City services in varying degrees of impact or demand. Entrepreneurial Indicators The policy of the City of Roseville in financing public services has been more and more one which places the burden of cost for the services on the user wherever practicable and appropriate. This policy is demonstrated in Table "4" where the percentage of non-tax revenue to tax revenue is charted for a ten year period. For example, in 1976 for every dollar raised in taxes, there was 31 cents raised in user fees and charges. In 1985, for every dollar raised in taxes, there was 70 cents raised in user fees and charges.