|
Comprehensive Plan Capital Improvements Element
<br />Many of the revenue sources identified in the CIP have unique characteristics. For example, sales
<br />taxes react differently than gas taxes to similar circumstances. The analysis accounts for such
<br />differences. Because gas taxes are levied on a per gallon basis rather than a price percentage basis
<br />like the sales tax, gas taxes do not increase as a result of rising prices the way that sales taxes do.
<br />Further, gas taxes do not typically decline as significantly as sales taxes during economic
<br />slowdowns. For property taxes, impact fees, user fees, interest earnings, and other revenues,
<br />additional behavioral characteristics were considered in forecasting future receipts. All such
<br />forecasts were developed with the use of professionally accepted methodologies. To ensure a
<br />financially balanced CIP (see Appendix A), scheduled expenditures were constrained by projected
<br />revenues.
<br />As part of this capital improvements element, the County's general revenues were forecasted for fiscal
<br />years 2016/17 through 2020/21. This section addresses general revenues and earmarked projected
<br />revenues as well as the county's tax base and millage rate projections.
<br />• Overall Forecasted Revenues
<br />Table 6.7 summarizes the County's forecasted revenue for fiscal years 2016/17 through 2020/21.
<br />Those revenues include the County's general governmental funds, enterprise funds, and internal
<br />funds. As table 6.7 shows, general revenue collected by the County is forecast to remain relatively
<br />level from fiscal year 2016/17 to fiscal year 2020/21 with revenues from "Other Sources" such as
<br />grants fluctuating.
<br />Table 6.7: Overall General Revenue Projection Summary
<br />FY
<br />2016/17
<br />2017/18
<br />2018/19
<br />2019/20
<br />2020/21
<br />TOTAL
<br />Taxes
<br />$116,232,417
<br />$119,138,000
<br />$122,116,000
<br />$125,169,000
<br />$128,298,000
<br />$599,189,167
<br />Permits, Fees &
<br />Special Assess.
<br />$29,035,576
<br />$29,761,000
<br />$30,505,000
<br />$31,268,000
<br />$32,050,000
<br />$152,619,576
<br />Intergovern-
<br />ment
<br />$22,820,121
<br />$23,391,000
<br />$23,976,000
<br />$24,575,000
<br />$25,189,000
<br />$119,951,121
<br />Charges for
<br />Services
<br />$71,413,730
<br />$73,199,000
<br />$75,029,000
<br />$76,905,000
<br />$78,828,000
<br />$375,374,730
<br />Judgements,
<br />Fines &
<br />Forfeitures
<br />$449,525
<br />$461,000
<br />$473,000
<br />$485,000
<br />$497,000
<br />$2,365,525
<br />Interest &
<br />Misc.
<br />$6,557,016
<br />$6,721,000
<br />$6,889,000
<br />$7,061,000
<br />$7,238,000
<br />$34,466,016
<br />Other Sources
<br />$99,598,226
<br />$97,531,154
<br />$73,703,631
<br />$89,748,893
<br />$48,626,786
<br />$420,972,939
<br />TOTAL
<br />$346,106,611
<br />$350,202,154
<br />$332,691,631
<br />$355,211,893
<br />$320,726,786
<br />$1,704,939,074
<br />Source: Indian River County Office of Management and Budget.
<br />Community Development Department Indian River County
<br />Adopted , 2016, Ordinance 2016- 28
<br />
|