Item 3AAGENDA ITEM # 3A
AUGUST 24, 2009
August 17, 2009
MEMORANDUM
TO: The Honorable Mayor
and Members of the City Commission
FROM: Jim Hanson
City Manager
SUBJECT: Follow-up Report
State Revenue Estimates Lowered; Since the final budget workshop held on August 12~', the
State has lowered its revenue estimates for the upcoming year. The latest numbers show a 1.6%
decrease in gas taxes, sales taxes and State revenue sharing for a total impact on Atlantic Beach
of $40,764. The specific impact on various City funds is detailed as follows;
Better Jacksonville Half Cent Sales Tax; ($9,925)
Gas Tax Fund ($7,403)
General Fund
• Sales Tax ($17,333)
• Municipal Revenue Sharing 6 103
Total General Fund ($23,436)
Grand Total ($40,764)