2010 August Revenue Estimating Conference Tuesday August 17

2010 August Revenue Estimating Conference Tuesday August 17 th

2010 revenue estimate (Aug ’ 10)

Taxes [57% of total revenues] • Sales tax [32%] – improved by $1. 9 M from April to $144. 4 M. – 7. 8% over 2009 and 2. 8% less than budgeted and • Property tax assumes $5 M for adjudicated sales and liens; sale in November • All taxes up $2. 4 M since April estimate • All taxes 9. 3% up over 2009 but 1. 6% less than budgeted

Licenses and permits [13%] • Occupational licenses and building permits down from April ($1. 8 M combined) • AT&T franchise estimate adjusted since anticipated settlement has not happened, offset by Entergy up since April • Budget had 17. 4% growth over 2009’s $56. 8 M; now expected to be 5. 4%

Intergovernmental & interest [2%] • Video poker trend down, small declines in other state revenues • Interest income already down in April, small additional reduction

Service charges [13%] • Down $6. 6 M in this forecast to $57. 5 M • Sanitation overall collections below April forecast amount ($3. 6 M) • EMS initial growth added in April has not been maintained ($2 M) • Tax collection service fee re-estimated ($1. 7 M) • Budget had 15. 5% growth over 2009’s $49. 1 M; now expected to be 4% (excluding Council rev. )

Fines and forfeits [8%] • Little net change in this estimate, BUT • Traffic Court at $5 M, budgeted at $10 M • Cameras, parking meters up to offset • Some revenue risk with furloughs and controlled overtime

2010 revenue estimate (Aug ’ 10) • Overall GF revenues are $21. 2 M below current budget (4. 5%) • Budget had 12. 3% growth over 2009’s $414. 9 M recurring revenue; now expected to be 7. 4% • Current budget includes $1 M that was appropriated from fund balance • Mayor’s proposal in July addressed $13 M of revenue shortfall • 2011 GF revenues also forecast

2011 GF revenues

2010 August GF new challenge • July 2010 Audit not addressed • Aug 2010 Revenue vs Budget (3. 677) (7. 904) • 2010 new challenge $(11. 6)M