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Exhibit 2. Projected Annual Operating Revenues, Expenditures, and Deficit, 2018-2037 (2018$) $12 $10 $8 "' $6 C: J ~ $4 $2 -$2 ---.... -------------..------------------------------- -$4 -Annual Projected Baseline Operating Revenues -Annual Projected Operating Expenditures ---Annual Operating Deficit Sources: Kittitas County Public Works 2018; BERK Consulting 2018. Note: This does not include the $50 million deficit in capitol needs over 20 years. To fill the 20-year funding gap of $91 million in operating and capital costs, we worked with the County to identify potential funding strategies. Based on our analysis of potential revenue generation and alignment with County goals, BERK recommends that the County pursue a Transportation Benefit District (TBD) and then establish a Vehicle Licensing Fee (non-voted), in combination with a County Road property tax levy lid lift (voted). Revenue generated from both these sources may be used for both operating and/or capital purposes. Through a phased approach, the County can implement a Vehicle Licensing Fee that graduates to a higher rote annually. This approach would develop as a $20 Vehicle Licensing Fee for two years, a $40 fee for two years, and a $50 fee for the rest of the 20-year time frame without a public vote. Using vehicle registration data from the Deportment of Licensing, we project that this strategy con bring in on estimated additional revenue of $32 million over 20 years. The Vehicle Licensing Fee through a TBD would help to meet the goals of increasing revenues to cover the funding gap and addressing safety concerns. This option also does not require a public vote. However, this option does not address the issue of improving the alignment between beneficiaries and those who are paying. Recreational users from outside the County would not be subject to this fee. • ~I I May 22, 2018 Kittitas County Public Works \ 20-Yeor TIP Fiscal Sustainability Strategy: Final Report 3