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Budget Presentation to Commissions
1 Proposed FY 2010/11 Budget 2 Economic Outlook Where We’re Up Property Tax Remains Stable Franchise Fees Trending Upward Where We’re Down Sales Tax ($325k) Transient Occupancy Tax ($100k) Business Licenses ($37k) Building/Planning Activity ($450k) 3 Past Reduction Efforts FY 2009/10 Budget Strategies ($2.6m) Vacancy Eliminations (7 FTEs) Staffing and Operating Expenditure Reductions Town-wide Overtime Cost Controls Shared Services Furloughs 4 FY2010/11 Budget Scenario Projected Budget Gap of $1.8m Continuation of Vacancy Eliminations Savings and Revenue from Neighborhood Center Lease Reorganizing and Outsourcing Interdepartmental Sharing of Staff Continuation of Furloughs 5 Future Forecast FY 2011/12 Projected Budget Approximately $1.5m - $2m deficit Further Personnel Reductions Likely Service Level Impacts 6