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FUTURE REVENUES <br />Expected future revenues for transportation were projected based on the County's historical sources of <br />transportation revenue. We projected property taxes and other taxes, state shared revenues, the Motor <br />Vehicle Fuel Tax (MVFT), federal and state grants, charges for services and fines, and other revenues <br />based on historical trends. Different revenues sources are projected differently, and these approaches <br />are outlined below (all projections are based on inflation-adjusted real 2018 dollars): <br />Exhibit 8. Projection Approaches For Future Revenues <br />■ Property Taxes are projected on 3 -year historical <br />■ Federal Grants and State Grants. BERK'`s projection <br />rate of change of per capita revenue. Property tax <br />assumes federal and state grants revenue will ., <br />revenues are driven by population, and 2015 <br />remain constant based on the average annual <br />reflects the most recent year after a noticeable drop ". <br />revenue from 2008-2017, with two anomalous years <br />in property tax revenue per capita. Property taxes <br />removed: 2013 and 2015. In 2013 the County <br />per capita have been declining at a compound <br />received unanticipated grant funding for the Kittitas <br />annual rate of -1.3% over the last 3 years; we <br />Highway project which enabled them to borrow . <br />project that future revenues continue to decrease by <br />ahead on those grant funds and as a result shows .. " <br />this rate. <br />^ <br />higher than normal grant allocations. In 2015 there <br />Motor Vehicle Fuel Tax (MVFT) revenues are ." <br />was a supplemental action by the state legislature <br />projected on 10 -year historical rate of change of <br />that provided the county with additional grant <br />per capita revenue. Washington currently levies a <br />funding associated with the state's purchase of <br />tax of 49.4 cents per gallon on motor vehicle fuel, <br />Teanaway Community Forest. This was a one-time <br />and counties receive a designated share. MVFT <br />allocation of funds as a way to offset lost revenue to <br />revenues in real dollars have been declining. This " '. <br />the county. Neither year is representative of the <br />.... <br />trend is becoming more apparent in recent years <br />expected range of grant funding to be secured <br />due to the shift toward more fuel-efficient vehicles. � <br />during the next 20 years. This approach assumes " <br />�, <br />Because of this, the County's state fuel tax <br />" that the County's future ability to secure federal and <br />distributions are expected to continue to decline. :" ° <br />state grants is constant based on the historical . <br />Over the last ten years, when adjusted for inflation, .; <br />period. <br />revenue per capita from MVFT has been declining .. <br />■ Other Taxes and Charges for Services and Fines . <br />by a compound annual rate of -1,6%; we project ." <br />are projected on 10 -year historical average per " <br />that future revenues per capita continue to decrease <br />capita revenue. These sources are driven by <br />by this rate. J,population <br />but have been volatile historically, <br />■ Similar to MVFT, Other Revenues (inter- "•: Z <br />fluctuating each year. A 10 -year average provides <br />departmental funds and miscellaneous funds) and "; e <br />a closer projection of future revenues. <br />State Shared Revenues are also projected on 10- <br />year historical rate of change of per .capita revenue. <br />Other Revenues per capita have been declining at p <br />compound annual rate of. -15.9%, while State. <br />Shared Revenues per capita have been growing at .. <br />a compound annual rate of 10.3%; we project that <br />these rates of change will continue. <br />Sources: Kittitas County Public Works 2018; BERK Consulting 2018. <br />:�1! May 22, 2018 Kittitas County Public Works 120 -Year TIP Fiscal Sustainability Sfrofegy: Final Report 10 <br />