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Revenue Outlook <br />Indian River County is beginning to experience signs of a modest improvement in the economy. <br />New construction activity has increased from very low levels during the downturn. Some revenues <br />are showing signs of a slight increase, while others remain relatively weak. Therefore, our <br />revenue projections for next year are mixed. For example, Half -Cent Sales Tax is increasing <br />$155,528 or 2.0%, while gas taxes are expected to drop $131,449 or (2.3%). State Shared <br />Revenues are expected to increase by $172,639 or 6.1 %, while Communications Service Taxes <br />are falling $50,000 or (4.2%). <br />Building permit revenues are expected to increase $248,407 or 14.9%. Interest earnings continue <br />to drop (down $479,758 or 43.0%). ALS Charges are expected to increase by $650,000 or 14.0% <br />next year. Many of the revenue increases are following several years of substantial decline. <br />Proposed Ad Valorem Tax Rates <br />Based on the preliminary rolls and recommended expenses, the proposed millage rates are as <br />follows: <br />Table 5 <br />Comparison of Proposed Millage Rates to Current <br />Fund Description <br />2013/2014 <br />Millage <br />2014/2015 <br />Proposed <br />Milla e <br />Difference <br />% Difference <br />General Fund <br />3.2620 <br />3.3117 <br />0.0497 <br />1.5% <br />M.S.T.U. Fund <br />1.0733 <br />1.0733 <br />0.0000 <br />0.0% <br />Emergency Services District <br />1.9799 <br />1.9799 <br />0.0000 <br />0.0% <br />Land Acquisition 2004 <br />0.3788 <br />0.3694 <br />(0.0094) <br />(2.5)% <br />Aggregate Millage <br />5.4611 <br />5.5219 <br />0.0608 <br />1.1 <br />The proposed General Fund millage rate is increasing from the current year. Proposed rates for <br />the M.S.T.U. Fund and Emergency Services District are the same as the current year, while the <br />Land acquisition millage is decreasing slightly. <br />Staff proposes an increase in SWDD assessment rates. This increase will return SWDD to a <br />structurally balanced budget. With the increase proposed, SWDD rates still remain lower than the <br />rates charged in 1996/97. Four (4) of the County's nineteen (19) street lighting and drainage <br />M.S.B.U's reflect a rate increase. Otherwise, no increases in rates or fees are proposed for the <br />upcoming fiscal year. <br />6- 7 <br />