FUND OBJECT CODE BUSINESS UNIT DIVISION ... - Moreno Valley

Continuing high unemployment at all levels also remains a major concern. Although the
national unemployment rate remains high at 9.0%, locally the challenges are much
greater, with California at 11.7%, Riverside County at 13.5%, and Moreno Valley at
15.6% as of April 2011 data. The unemployment rates are improving from April 2010,
when the City’s unemployment rate was peaking at 17.4%. The unemployment trends
since April 2009 are depicted in the following chart:
GENERAL FUND
General Fund Revenue Projections for FY 2011/12 – FY 2012/13
During stable economic times, various analytical tools and financial models are used to
develop revenue projections. However, during uncertain economic conditions,
projections based on historical trends are less reliable. Therefore, in developing the
revenue projections that follow, staff relied primarily on current economic data, recent
short-term results and experience, and outside expertise on some of the major revenue
sources such as Property Tax, Sales Tax and Utility User’s Tax.
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