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After reviewing the budget, the budget committee needs to approve a dollar amount or the per- manent tax rate. Because we know for sure what our permanent rate Is, the budget committee needs to approve levying the permanent tax rate of $3.0559. Add an estimated $.4085 for bonded debt and you get a grand total of $3.4644. Last year's rate was 13.4781. The proposed 2008 -09 budget totals $3,094,208. The prese t year's budget totals $3,188,368. The proposed 2008 -09 budget is less due to no flex leas com d a large drop In the contingency fund. The budget was prepared on the saute basis ofa n ng that was done during the preced- ing year. The two funds that comprise the 2008 -09 Budget are the General Fund and the Bonded Debt Fund. The bond issue tax payment will be $171,618 Last year it was $172,578. The bond fund tax rate per $1,000 is estimated to be $0.4222. Last year it was $0.4255. The budget committee does not need to examine the Bonded Debt Fund because the figures are based on principal and interest re- quirements and are not subject to change. The General Fund involves the proposed revenues and expenditures. The proposed revenues will be discussed first. The beginning cash carry -over for the present fiscal year was $584,511. 77te estimated ending cash carry -over is $432,328 but I am budgeting $425,000. Me drop of $159,511 cash carry -over from last fiscal year and a drop of $265,210 cash carry -over from two year's ago will create a huge problem by fiscal year 2010 -11 where the p rojected fund balance is 481,183. (See Budget Projections, pages 6 -7 for details) 77te main reasons for the drop Is the loss of tax revenue be- cause of property tax appeals, increase In annexations to the City of Eugene, revenues not keep- ing pace with inflations, and expenditures that we have little control over. (i.e. wages and bene- fits,health insurance, natural gas, electricity, water) The proposed budget includes the same amount as the present fiscal year ($100,000) from the city of Eugene barring any unforeseen ac- tion by the Eugene City Council. We have asked the City of Eugene for an additional $100,000 per year, but that request doesn't appear to be possible unless a joint meeting with the City Council happens and our Board of Directors can change their mind. ,� Aquatic revenues are projected to be $359,200 which is slightly mbe than the current year's esti- mate. An increase In pool admission fees and passes in the fall and and tighter security on swim passes as well as River Rod Swim Club paying the direct costs of the swim team program should help revenues. Recreation revenues are projected to be $934,000 which is about $85,451 more than the current year's estimate. This Is because we budget a high amount for senior trips In case we have some high priced trips which would be offset by higher expenditures. For example, Cathy Casalegno, Senior Director Is offering an Outback to the Glaciers - Australia and New Zealand ($5,999 per person double occupancy and the Oberammergau Passion Play and the Imperial Cities ($5,299 per person double occupancy). Most of the proposed Increases are general increase In fees In all programs. Hopefully, Increased fees in preschool programs, youth and adult programs should generate more revenue than Is budgeted for. Miscellaneous revenue other than current /delinquent tax collections are projected to be $157,000 which Is about $7,000 more than the current year's estimate. The major differences is additional Interest revenue for a short term loan to make up for loss of investment pool Interest due to the reduction In cash carry -over. E