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.
We will evaluate revenue sources in comparable communities (usually within the same state and region).
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.
Beaufort County, South Carolina
As part of the Southern Beaufort Regional Plan, TischlerBise and Clarion Associates conducted an infrastructure financing evaluation. In this evaluation TischlerBise and Clarion worked with County staff to identify acceptable level-of-service standards and, based on these standards, project infrastructure needs in the future as well existing deficiencies. The second step involved projecting dedicated capital revenue to these infrastructure needs in order to estimate the funding “gap”. TischlerBise and Clarion then evaluated potential revenue sources and financing mechanisms available to address the identified funding needs. Finally, three funding scenarios were prepared to illustrate how a combination of revenue sources/approaches could work.
TischlerBise was retained by the City of Peoria, located outside of the City of Phoenix, to evaluate the fiscal impact of a proposed annexation of the mixed-use community Lakeland Village. The City wished to know the fiscal implications of extending infrastructure and incurring front end operating expenses to help “seed” the development.