2009-10 Adopted Budget - City of Hoquiam

Street Fund - #106The following chart and graph entitled “Street Fund Revenue, History and Forecast”illustrate historic and projected revenues. The primary source of Street fund revenuesis from gas taxes. This source of state allocated revenue is forecasted to remainessentially flat over the coming years.This is primarily due to the fact that gasoline consumption remains flat statewide, and iseven anticipated to decrease slightly over the coming year due to higher gasolineprices, increasing automobile fuel efficiency and decreasing tourism activity. Since gastaxes are collected on a cents per gallon basis and not on a percentage of sale pricebasis, this revenue source does not increase as the cost of fuel increases.Additionally, this fund receives supplemental support annually from the General fund tocover operating costs in excess of revenues received directly from gas taxes. For 2009,the amount of this transfer is $193,000, approximately $45,000 larger than the transferin 2008. In 2010, this transfer is budgeted at $173,500. The Street fund is considered a“creeper” fund because it obtains funding via transfers from the General Fund. For thisreason an attempt is made to maintain this fund at a zero cash balance, thusmaximizing the amount the cash balance in the General Fund.Total resources needed to support Street operations for 2009 equal $414,465, and$394,990 in 2010.Actual Actual Actual Actual Actual Actual Actual Actual Forecast BudgetBARS # 106 STREET FUND 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009311.10.00 Property Tax $146,260 $166,260 $108,785 $125,020 $125,000 $109,500 $128,630 $0 $0 $0322.40.00 Street and Curb Permits $1,690 $1,508 $804 $2,077 $1,456 $1,803 $934 $774 $1,195 $1,170334.03.69 DOT Grant $0 $1,400 $0 $0 $0 $0 $664 $137 $137 $0336.00.87.00 Motor Vehicle Fuel Tax $136,125 $133,833 $133,867 $127,292 $124,259 $129,335 $140,555 $146,037 $152,335 $140,295344.10.00 Street Maint. & Repair Charges $254 $0 $0 $0 $494 $0 $1,540 $91 $91 $0369.90.00 Other Misc. Revenue $1,677 $0 $156 $0 $1,523 $0 $708 $836 $834 $0TOTAL : $286,006 $303,002 $243,612 $254,389 $252,732 $240,638 $273,031 $147,875 $154,592 $141,465Annual % Change: 5.9% -19.6% 4.4% -0.7% -4.8% 13.5% -45.8% 4.5% -8.5%Average % Change since 2000: 5.9% -6.8% -3.1% -2.5% -2.9% -0.2% -6.7% -5.3% -5.7%Transfers In $0 $0 $0 $0 $0 $0 $0 $128,440 $147,380 $273,000TOTAL REVENUE $286,006 $303,002 $243,612 $254,389 $252,732 $240,638 $273,031 $276,315 $301,972 $414,46560