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2021 Annual Budget Council Retreat <br /> Major Revenues <br /> 3 Mayor Tax Revenue Streams:Sales, Utility, Property <br /> • Private Utility tax will likely continues to decrease in Cable TV and Telephone sectors <br /> • Public Utility tax uncertainty <br /> o Water: some Commercial customers may not recover from Covid. <br /> o Lingering effects of Covid to fuel consumption. <br /> o The refineries continue to look for internal water recycling options. <br /> o Electric vehicle (EV) initiatives and increasing popularity. <br /> Roughly 2/3 of our primary tax revenues are growing at less than the rate of inflation. <br /> Carry over 2020 Budget issues: <br /> 2020 Covid budget amendment, which carried over to 2021: <br /> To shift resources back to General Fund: <br /> Reduction in road maintenance <br /> Reduction in Parks, Library, Museum <br /> Reduction in Equipment Rental of$922K in replacement charges in fiscal 2021. <br /> 2022 budget considerations: <br /> Fiber line of credit of$4.5M is in place to continue buildout; this is short term debt, a repayment plan <br /> will need to be put in place. <br /> Additional funding for Fiber may be needed. <br /> Rainy day fund balance is$5.6M. <br /> Fund balance policy adopted by ordinance 2995 <br /> CPI estimates for 2021 approach 6%, a higher level of budget inflation may be experienced than what <br /> has been seen the past decade. <br /> Budget Resources: <br /> <br /> <br /> Page 2 of 38 <br />