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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 slowdowns.
<br />For property taxes, impact fees, user fees, interest earnings, and other revenues, additional behavioral
<br />characteristics were considered in forecasting future receipts. All such forecasts were developed with
<br />the use of professionally accepted methodologies. To ensure a financially balanced CII' (see Appendix
<br />A), scheduled expenditures were constrained by projected revenues.
<br />As part of this capital improvements element, the County's general revenues were forecasted for fiscal
<br />years 2018/19 through 2022/23. 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 2018/19 through 2022/23.
<br />Those revenues include the County's general governmental funds, enterprise funds, and internal funds.
<br />As table 6.7 shows, general revenue collected by the County is forecast to decrease from fiscal year
<br />2018/19 to fiscal year 2022/23 with revenues from "Other Sources" such as, grants decreasing
<br />Projecting a decrease in grant funding due to uncertainty of future grants is a conservative approach.
<br />Actual grant funding may be greater than projected.
<br />Table 6.7: Overall General Revenue Projection Summary
<br />FY
<br />'2018/19
<br />2019/20
<br />2020/21
<br />2021/22
<br />2022/23
<br />TOTAL
<br />Taxes
<br />$135,293,450
<br />$138,676,000
<br />$142,143,000
<br />$145,697,000
<br />$149,339,000
<br />$711,148,450
<br />Permits, Fees &
<br />Special Assess.
<br />$31,567,623
<br />$32,357,000
<br />$33,166,000
<br />$33,995,000
<br />$34,845,000
<br />$165,930,623
<br />Intergovern-
<br />ment
<br />$22,880,216
<br />$23,452,000
<br />$24,038,000
<br />$24,639,000
<br />$25,255,000
<br />$120,264,216
<br />Charges for
<br />Services
<br />$77,006,833
<br />$78,932,000
<br />$80,905,000
<br />$82,928,000
<br />$85,001,000
<br />$404,772,833
<br />Judgements,
<br />Fines &
<br />Forfeitures
<br />$410,160
<br />$420,000
<br />$431,000
<br />$442,000
<br />$453,000
<br />$2,156,160
<br />Interest & Misc.
<br />$8,282,110
<br />$8,489,000
<br />$8,701,000
<br />$8,919,000
<br />$9,142,000
<br />$43,533,110
<br />Other Sources
<br />$450,194,233
<br />$122,112,532
<br />$101,529,443
<br />$79,188,234
<br />$79,923,833
<br />$67,440,191
<br />$1,897,999,625
<br />TOTAL
<br />$397,552,924
<br />1 $383,855,443
<br />$368,572,234
<br />$376,543,833
<br />$371,475,191
<br />Source: Indian River County Office of Management and Budget.
<br />Community Development Department Indian River County
<br />Adopted December 4, 2018, Ordinance 2018-025 29
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