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Comprehensive Plan Capital Improvements Element Besides implementing the components of this element, the county coordinates with the St. Johns River Water Management District (SJRWMD) and the various state agencies, such as the Florida Department of Transportation, when those agencies program facility or service improvements within Indian River County. The continuation of this coordination will ensure that the plans of state agencies and the SJRWMD will be consistent with the Comprehensive Plan and the timing and location of capital improvements as identified in the CIE. Projected Revenues In order to develop a financially feasible schedule of capital improvements, projected revenues over the five-year CIP time period are calculated. Those 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 are 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. During the past five years, there has been a gradual decrease in most revenue sources. Estimates going forward show a decrease in most revenue sources for the next couple of years, followed by moderate increases. That reflects an assumption that the current economic recession will be followed by a moderate recovery. 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. For property taxes, impact fees, user fees, interest earnings, and other revenues, additional behavioral characteristics 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 were forecasted for fiscal years 2011/12 through 2015/16. 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 revenue for fiscal years 2011/12 through 2015/16. Those revenues include the county's general governmental funds, enterprise funds, and internal funds. As Community Development Department Indian River County Adopted November _, 2011, Ordinance 2011-_ 29