Fiscal Review and AssessmentCorey Rusk, Laura Knudsen, Patrick Curry, Courtney Bonney

Outline•Introduction•Budget Process•Budget Analysis•Revenue Analysis•Debt Analysis•Thanks

The City of Richmond

Budget Process

Budget Analysis

52%

16%

10%

11%

1%4%

4% 2%

PROPOSED BUDGET COST OF MUNICIPAL OPERATIONS FOR 2009

Public safety

Public works

Culture & recreation

Community Development

Debt service

Public trans-portation

Administration

Aviation

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

% OF PROPOSED BUDGET COST OF MUNICIPAL OPERATIONS BY TYPE

2006

2007

2008

2009

-3.50%

-2.50%

-1.50%

-0.50%

0.50%

1.50%

2.50%

Percent Change in Budget Proposals

change 2008-2009 change 2007-2008 change 2006-2007

Revenue Change

1998 Rev. 2009 Rev. Total % Increase Growth Rate Property Taxes $5,416,154 $7,933,698 46.48% 3.53% Other Taxes $3,155,844 $3,383,800 7.22% 0.64% Licenses & Permits $133,640 $110,000 -17.69% -1.75% Intergovernmental $158,785 $377,286 137.61% 8.19% Charges for Services $2,780,472 $3,322,299 19.49% 1.63% Fines & Forfeits $111,784 $85,000 -23.96% -2.46% Miscellaneous $867,512 $952,114 9.75% 0.85% Total $12,624,191 $17,340,734 37.36% 2.93%

Total Revenue (1998-2009)Total Revenue

-

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

20,000,000

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Year

Rev

enu

e ($

)

Property Taxes

Other Taxes

Licenses & Permits

Intergovernmental Revenue

Charges for Services

Fines & Forfeits

Miscellaneous Revenue

Total Revenue

% Total Revenue (1998-2009)Percentage of Total Revenue

0

10

20

30

40

50

60

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Year

Per

cen

tag

e

Property Taxes

Other Taxes

Licenses & Permits

Intergovernmental Revenue

Charges for Services

Fines & Forfeits

Miscellaneous Revenue

Debt Analysis

Sources