6.
City Council Special Work Session (AMENDED)
- Meeting Date:
- 10/22/2019
- From:
- Rick Tadder, Management Services Director
TITLE
General Fund Revenue and 5-Year Plan Update
STAFF RECOMMENDED ACTION:
Discussion on General Fund Revenues and update on the General Fund 5-Year Plan.
EXECUTIVE SUMMARY:
This discussion is to provide information regarding decline in Fiscal Year (FY) 2019 sales tax revenues and the impact on the City of Flagstaff (City) FY 2020 budget and General Fund 5-Year plan. The information is primarily related to major Transaction Privilege Tax (TPT, or sales tax) revenue sources which impacts the General Fund.
INFORMATION:
Staff will present the following:
- History of Sales Tax Collections
- General Fund Sales Tax Revenue Projections
- Arizona Department of Revenue (ADOR) Discussion
- Other Major General Fund Revenue Projections
- General Fund 5 Year Plan Impacts
- BBB & Transportation Tax Impacts
- Plan going forward