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Financial -14, StrategSession
<br />February 14, 2013
<br />Page age 2
<br />In keep, rgtTh its c'-^servatve practices, i" jl Drake did the D strict retain at the 2% at 55
<br />pension f rr-.Ja '�4 isri ctrar agsrclss •':ere S:."rarrclrtg their psl+sicn fbrmulas ;r' the
<br />):ears ` of . _RS earn rigs. i 2CO9 ir' sresponllse t� the do,,'- turn #r i'is voC'L''�j/. tl•f: i. ($±C'vi Set
<br />�V a :�� , nn 1. .i for _3= �-F i' r I +
<br />Lia a S2� r,u r -- at : ;� fJ" 1ua - ra el' i yess. -f ecti4e .lanuary 1 . 2C13. i"'i S.
<br />f -ay oris ` rYe�
<br />'ll i subject a S`.ate-man ed 5,- t 2 4.a �� V) which, p�'J'ide for
<br />�e , k at 2. a ri r' I
<br />UA e�r�: i, r .kts at a�.. :�is� ir> 74s:., k:ok a..i�r to Iri;r,,r:.ize retiree
<br />hsaith,_-ara ,,,,pis for Staff ..r$irIG83 c eva.l~atS Gppt priate responses to
<br />rising pansi n ar,-a hea1hcare ccists.
<br />capftaf Projects
<br />Histoncaliy, capital prc ects Such as r.s.`, a -o rsp+acsmi Brit {park amenities) wers funded
<br />trir-o..,lgh .mi..:,.va9:., � r.....l. pr.::.J... — e.tr,... L,; nom., bLlisder3 c:..d:catirlg land ar'u the
<br />park, or by paving the r2.-Sssa y pa"K deli-.3ticn i,aka `Q uirr!t3y, , `88 for each nse %,- rs3ids,itial
<br />t rait. S.lch `ses nave Sir.°`:ie tc a trickia be iniNng more than a a°acade ago as tre cit_j ras
<br />i?ean apCroac'hina. build out. Thes recd t IjlriSFlig crash and s ,°bean'.-e;it 3raat Recessi-r have
<br />r!sa,iy turn,.d 'Jff the Quirnrlci apipus a1:.g9.ri5r and the rRr^a;ri"g .2'u;mby ,ands nearly
<br />net.. c. r- �s 1^. " e V el"c n } n n of
<br />i� I x.ta�.;s�. ���s:a� cmpl.�>,t-.�r..ficap:a!i�r�rofsme,t�.,r.}e:_s,
<br />In 2401M. ;r rssporlse to pas: =du -cat m Re•,rsnue ALgrranta'^cii s Iurid (1_RAF) shifts a nic in
<br />CB:.Sgnr:._r ,.}".sat Q«I:iitby ;+d'I'�r7. 'r'rvl..lbacinadequate, >,...:...c Var.ey DFDO a1 atYPae rs
<br />apprcNead rha Distrctih.ida 39nafit Assessment, Tie �erief# Assas9rnart has been used for
<br />both r(capitai lrnpr �;aments and operai cfs. At the time the Ser..efit Assessmsrt ,,;as
<br />C;j'kal�l'; Jr' 1-�.'�� grsats-. por~I'��I '~ ,�. s?'+ ii'j".^3•... vy n t i r- {V
<br />r of th , a'. ,r I.�.yl� � :1383 .�r capita' F}s..jeG'3 t�-an r
<br />f/'•{��"}a
<br />nal �"-"ts. 0"er tris pari i2 ears. as ;apitaf� it 't e„p` Iaa`'a beer. ^omp!a s,' 1 -ha
<br />Jf,J rr`itJ r� 'n17 , tris J J V s Y V V VV.f. l
<br />Distr�,;, has ncurrad more and more paratioral ccsts .s.. ma;ntsr,ance, water icr ne:'r
<br />facl[it'�e3.1T ' S the Distr;'^.rgJJS AssaS3mant fL';"c: is trarzticrr rig ro;m its role as a capita
<br />NrCject funding sour -.e tv a :7airtar'ance furid:ngj s-.urce,
<br />vnall'aniges re-mq`,n, as d;scussed bele'.?
<br />Property Tax Revenues
<br />Although recent reports iMdisam tt!e ti;,oncrny is !impm..,?iria real estate prices re—,ain wel!
<br />b-slo-w `i eir p-sak arr:^ f ie','; 144eva1cprnent 'rEk'9 be Urni ed ';:Qh the gr�',ifAh cver the past
<br />80 years;.. As the real estate r-arket does cc.me back, tiere 's typlcai<y a 1-2 year Iag be`ore
<br />fhe rrgher assessed :'aii„83 ars arivaiii racei'-red by *hie District. Staff expects pmperty
<br />tax rev a; uas to rerra;n iez, el for -hoa ; next
<br />MILLCREST CENTER 403 WEST li LLCREST DRIVE. THOUSAND OAKS, CALIFORNIA 91360-4223
<br />(S05) 495"5471 FAX; (165) 497-3199 E-MAILparka(jPcrpd.org
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