COS Financial Plan 2018 - 2022

ECONOMIC OVERVIEW

Building Permit Revenues also had another strong year, with a year- over-year increase of approximately 9%. This strong performance is another indication that the City had a very strong overall development year. Furthermore, Building Permit revenue typically is a strong indicator of future revenues for the City in the form of new taxation revenues. These new taxation revenues are critical to the City’s financial health and in part support investments in various projects such as new recreational facilities. Business License revenue for 2017 decreased slightly by 1% from last year to approximately $6.8 million dollars. This revenue stream is very critical for the City’s financial health both directly and indirectly in that as new business are attracted to the City and are successful they will typically inject further investments into the local economy, including creating new jobs.

Building Permit Revenue (in millions) to December 31, 2017

$10 $12 $14 $16 $18

4th Quarter 3rd Quarter 2nd Quarter 1st Quarter

$0 $2 $4 $6 $8

2013

2014

2015

2016

2017

Business Licence Revenue ($000's) New & Renewals to December 31, 2017

$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000

2013 2014 2015 2016 2017

the future lives here.

2018-2022 Financial Plan

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