Are revenue items missing in the budget for 2008? As I reviewed the Revenue section, it seemed there were gaps which may be of concern and the following information and analysis is offered for consideration.
The linked spreadsheet is an analysis of the expected revenue as reported by the Administration. It is sorted by the greatest actual dollars by Organization in 2006 compared to the expected dollars by Organization in 2008. Many of the accounts had one or two items with a variance in the detail, while others (such as "Treasury") had great variations. Next to the dollar amounts is a brief explanation of the cause for the increase or decrease in the revenue with the exception of Taxation.
In the Detail for taxation, no allowance for refunds to businesses or individuals was included in the model. This would seem to leave the City open for unfunded costs since the amount of refunds were significant 2004: -1,089,790; 2005: -1,124,086; 2006: -1,386,489; 2007 & 2008 -0-. Is it possible there were no refunds in 2007 and none expected in 2008?
Treasury is a total different situation as there are numerous differences between 2006 and 2008 by Account Description. The detail begins on Row 47.
It has been well documented that Federal and State Grants have declined, but the difference in Grants between 2006 and expected in 2008 is staggering. Have we missed opportunities or has the availability of Grant money really dissolved? The comparison is referenced beginning with Row 124 which shows:
Federal Grants $18,777,186 (2006) (2008 - "0")
State Grants $18,122,466 (2006) (2008 - "0")
State Grants/Federal Fnds $8,676,909 (2006); $300,451 (2008)
TOTAL GRANT REVENUE $45,576,560 (2006); $300,451 (2008)