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Comprehensive Plan Capital Improvements Element Projected Revenues In order to develop a financially feasible schedule of capital improvements, projected revenues over the five-year CIP time period have been calculated. These revenues are then compared to anticipated expenditures on capital improvements. For the first three years of the plan, only committed and available revenue sources are utilized. In developing revenue estimates for this process, historic revenue trends, current and anticipated economic conditions, population and growth trends, legislative changes, and any other factors that may impact future revenue streams were considered. This analysis is far more complex than projecting prior trends into the future. This is evident in the forecasted revenues shown in this section. While the historical data show a solid increase in most revenue sources in the most recent five-year period, estimates going forward show a decrease for the first couple years followed by moderate increases. This is consistent with an anticipated economic slowdown in the near future followed by a moderate recovery thereafter. Many of the revenue sources identified in the CIP have unique characteristics. For example, sales taxes react differently than gas taxes to similar circumstances. The analysis accounts for such differences. Because gas taxes are levied on a per gallon basis rather than a percentage basis like the sales tax, gas taxes do not increase as a result of rising prices the way sales taxes do. Further, gas taxes do not typically decline as significantly as sales taxes during economic slowdowns. Property taxes, impact fees, user fees, interest earnings, and other revenues have additional behavioral characteristics that were considered in estimating future receipts. All such estimates were developed with the use of professionally accepted methodologies. To ensure a financially balanced CIP (see Appendix A), scheduled expenditures were constrained by projected revenues. As part of this capital improvements element, the county's general revenues have been projected for fiscal years 2009/10 through 2013/14. This section addresses general revenues and earmarked projected revenues as well as the county's tax base and millage rate projections. • Overall Projected Revenues Table 6.7 summarizes the county's projected overall revenues for fiscal years 2009/10 through 2013/14. These revenues include the county's general governmental funds, enterprise funds, and internal funds. As table 6.7 shows, general revenue collected by the county is projected to decrease slightly over the next few fiscal years and increase by only 3.01% by fiscal year 2013/14. General revenue is projected to increase from $320,680,692 in FY 2009/10 to $330,339,507 in FY 2013/14. Community Development Department Indian River County Supplement #_; Adopted November _, 2009, Ordinance 2009-_ 29