Budget-In-Brief → buDgeT oVerView●To make accurate predictions, several key assumptions are typically used. These assumptionshelp city management estimate revenue streams and plan for effective budget management.Below is a breakdown of assumptions used for forecasting following revenue sources:■Ad Valorem Taxes:♦♦Property Values: Forecasts rely on assessments of property values within the city.Assumptions are made about how property values will change, considering factors likeeconomic trends, real estate market conditions, and new construction.Tax Rate Stability: Predictions assume that property tax rates will remain relativelystable. Significant changes in tax rates could impact revenue projections.A conservative revenue growth rate of 2% was integrated, to ensure the fiscal stabilityand sustainability of the city’s finances. This growth rate takes into account the potentialeconomic conditions and various factors influencing revenue generation.■Utility Taxes:♦♦Utility Usage: Projections are based on assumptions about the level of utility usage byresidents and businesses. These assumptions consider historical consumption patterns,population growth, and economic conditions.Rate Structures: Changes in utility rate structures, including increases or decreases inrates, are factored into revenue forecasts.A conservative revenue growth rate of 2% was incorporated, to ensure the fiscal stabilityand sustainability of the city’s finances. This growth rate takes into account the potentialeconomic conditions and various factors influencing revenue generation.■One-Half-Cent Sales Taxes:♦♦Economic Trends: Forecasts for sales tax revenue are closely tied to the overalleconomic health of the city. Assumptions are made regarding economic growth,consumer spending, and trends in retail sales.Legislative Changes: Changes in sales tax rates or regulations at the state level canimpact local revenue forecasts.A conservative revenue growth rate of 2% was calculated, to ensure the fiscal stabilityand sustainability of the city’s finances. This growth rate takes into account the potentialeconomic conditions and various factors influencing revenue generation.■Franchise Fees:♦♦Franchise Agreements: Projections depend on existing franchise agreements with utilitycompanies, cable providers, or other entities operating within the city. Assumptionsabout fee structures and collection rates are made accordingly.Business Activity: Changes in the number of businesses operating within the city andtheir level of activity can affect franchise fee revenues.A conservative revenue growth rate of 2% was calculated, to ensure the fiscal stabilityand sustainability of the city’s finances. This growth rate takes into account the potentialeconomic conditions and various factors influencing revenue generation.104City of Eustis, FloridaAdopted BudgetBack to TOC
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