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Comprehensive Plan Capital Improvements Element
<br />the use of professionally accepted methodologies. To ensure a financially balanced CIP (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 2019/20 through 2023/24. 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 2019/20 through 2023/24.
<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 />2019/20 to fiscal year 2023/24 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 />2019120
<br />2020121
<br />2021M
<br />TOTAL
<br />Taxes
<br />$145,293.007
<br />$148,925.000
<br />$152,648,000
<br />$156.464,000
<br />$160,376.000
<br />$763,706.007
<br />Permits, Fees&
<br />Special Assess.
<br />$33,02L441
<br />$33,847,000
<br />$3403,000
<br />$35,560,000
<br />$36,449,000
<br />$173,570,441
<br />Intergovern-
<br />ment
<br />$23,501.341
<br />$24,089.000
<br />$24,691.000
<br />$25,308,000
<br />525,941,000
<br />$123,530,341
<br />Charges for
<br />Services
<br />$83,195,900
<br />$85,276,000
<br />$87,408,000
<br />$89593,000
<br />$91.833.000
<br />$437305.900
<br />Judgements,
<br />Fines&
<br />Forfeitures
<br />$463.120
<br />$475,000
<br />$487,000
<br />$499,000
<br />$511,000
<br />$2,435,120
<br />Interest & Misc.
<br />$9,061,049
<br />$9,288,000
<br />$9,520,000
<br />$9,758,000
<br />$10,002000
<br />547,629,049
<br />Other Sources
<br />$123245.299
<br />$109,750,160.50
<br />$82,880,698
<br />$96,024,906
<br />$72,350.983
<br />5484,252,047
<br />TOTAL
<br />$417,781,157
<br />$411,650.161
<br />$392,327.698
<br />$413,206,906
<br />$397,462,983
<br />$2,032,428,905
<br />Source: Indian River County Office of Management and Budget.
<br />Earmarked Projected Revenues
<br />Earmarked revenues are revenues that are restricted in terms of use. Such revenues may be found in
<br />the Transportation Element, Sanitary Sewer Sub -Element, Potable Water Sub -Element, and Solid
<br />Waste Sub -Element.
<br />Table 6.8 provides a summary of earmarked revenue forecasts by applicable comprehensive plan
<br />element for fiscal years 2019/20 through 2023/24. As shown in table 6.8, forecasted transportation
<br />revenues are broken down by their sources. Earmarked forecasted transportation revenues are
<br />Community Development Department Indian River County
<br />Adopted December 3, 2019, Ordinance 2019-020 29
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