FY2024 Proposed Budget

Long-term Projections:

The Transit Fund revenues in fiscal year 2023 are high due to receipt of COVID-19 relief grant funding. Transit Fund revenues are projected flat for future years with any increases coming from growth in the Transit Property Tax Levy transfer in. Transit Property Taxes are projected with 3% taxable valuation growth in fiscal years 2025 through 2028. The final drop in the Multi-Residential rollback rates to match the Residential rollback rates occurs in fiscal year 2024. Future expenditures were projected with the assumptions that personnel related expenditures would grow at a 3% rate annually and services and supplies would grow at a 2% rate annually. Expenditures in fiscal year 2025 are higher due to Capital Projects Fund transfers out for a new Transit Facility.

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