Revenue Enhancement/Infrastructure Financing Strategies
Local governments face increasing demands for services and facilities despite reduced state and federal revenues and a reluctance for tax increases. TischlerBise evaluates alternative revenue sources and financing mechanisms in the context of appropriately allocating public costs. Such analyses ensure complete understanding and provide a level base from which stakeholders can begin to discuss their options. TischlerBise can assist jurisdictions faced with revenue shortfalls. Devising revenue strategies is a natural extension of preparing both fiscal impact analyses and impact fees. Steps in devising revenue strategies include:
- Evaluation of Current Revenue Sources
TischlerBise will analyze current sources of revenues and existing tax rates in the jurisdiction.
- Revenue Comparison
We will evaluate revenue sources in comparable communities (usually within the same state and region).
- Expense Levels
While it is usually more popular to focus on revenues, various limitations may exist including ceilings and taxpayer resistance. Therefore, TischlerBise will also analyze operating and capital expenditures within the jurisdiction.
- Level of Service Changes
In evaluating revenue strategies, consideration should be given to current levels of service and how they could be changed to reduce costs and lessen the need for increased revenues. TischlerBise has evaluated levels of service in many communities.
- Suggested Revenue Strategies
TischlerBise prioritizes the various steps that the community could implement to achieve its objectives. These could include raising existing rates, implementing new fees, expanding the base for certain revenues, decreasing costs, and/or changing levels of service. A rationale would be provided for each of the recommendations.