Budget Hearing #1 September 15, 2015 Nicola Sapp County Budget - - PowerPoint PPT Presentation

EL PASO COUNTY COLORADO

2016 Preliminary Balanced Budget Budget Hearing #1

September 15, 2015

Nicola Sapp County Budget Officer

2016 Preliminary Balanced Budget

Compiling the 2016 Budget

– Revenue Estimates

• Sales and Use Tax
• Property Tax
• Fee Revenue

– Retain Prior Direction on 2016 Budget without new Critical Needs – Per Statute “Presentation of Preliminary Balanced Budget”

El Paso County Budget Administration

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2016 Preliminary Balanced Budget

Compiling the 2016 Budget

Revenue Estimates:

• Sales & Use Tax Revenue is up 6.68%

– As of July 31, 2015 over 2014

• “Food Services” is up 9.22%
• “Retail” is up 8.44%

– The average increase over the last six years is 5.31% – For 2016, staff recommends a conservative increase of 4.50% – 2016 Sales and Use Tax Budget of $91M – Represents an increase of $5.3M

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2016 Preliminary Balanced Budget

Sales & Use Tax Projections

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$0 $20 $40 $60 $80 $100

$69.1 $67.7

(2.05%) $64.6 (4.46%)

$67.5

3.92%

$69.0

2.74%

$74.9

8.46%

$78.4

4.68%

$82.6

5.38%

$87.1

5.50%

$91.0

4.50%

2016 Preliminary Balanced Budget

Compiling the 2016 Budget

Revenue Estimates:

• Property Tax Revenue Increase of 8.1%

– Based on Preliminary Certification of Assessment – Allowable Abatement Mill of 0.078 mills – 2016 Projected Mill Levy of 7.869 – 2016 Property Tax Budget $48.6M – Represents an increase of $3.6M

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2016 Preliminary Balanced Budget Property Tax

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El Paso County Budget Administration

$37.4

$38.9

4.15% $43.5 11.52% $44.7 2.75% $46.2 3.38% $47.3 2.46% $42.4 (10.44%) $43.6 2.90% $44.0 0.82% $44.9 2.37% $48.6 8.08%

$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Projection

2016 Preliminary Balanced Budget

Compiling the 2016 Budget

Revenue Estimates:

• Elected/Appointed Office Fees

– Increase in Clerk & Recorder Fees by $327K – Reduction in Coroner Fees by $155K – Reduction in Public Trustee Fees by $444K – Reduction in Sheriff’s Office Fees by $359K – Increase in Treasurer Fees by $200K

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2016 Preliminary Balanced Budget

Compiling the 2016 Budget

• 2016 Expenditure Budgets

– Retain 2015 Expenditure Budgets until BoCC provides direction through the Original Adopted Budget Process – Included the On-Going Increase to establish a line for the bi-annual election process – Continue On-Going Restoration of Fleet Replacement Program

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2016 Preliminary Balanced Budget

Compiling the 2016 Budget

• Critical Items to Consider:

– Compensation Study

• Should be completed by September 30th
• Identify Salary Inequities

– Emergency Funds

• Review of Financial Impacts of Natural Disasters

– Cash Flow (Operational Reserves)

• Establish a reasonable level of reserves

– Potential TABOR Impacts – Replenishment of Operational Budgets

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2016 Preliminary Balanced Budget

Compiling the 2016 Budget

“Financial Road Map”:

– Five to Ten Year Projection – Establish a Clear Multi-Year Financial Direction – Not Just Look at What Funds are Currently Available – Multiyear Strategy to Replenish Budgets

• Address Critical Needs
• Increased Cost of Service

– Update the Budget Policy to Provide Consistency with Financial Direction

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2016 Budget Process

Budget Hearing #2 (Original Adopted Budget) – October 29th:

• Department/Offices Critical Needs Presentations

Budget Hearing #3 (Original Adopted Budget)– November 5th :

• Department/Offices Critical Needs Presentations
• County Budget Officer – Updated Revenue Projections & Five Year Forecast
• CBOC Presentations to BoCC

Budget Hearing #4 (Original Adopted Budget)– November 19th:

• BoCC Direction on the 2016 Original Adopted Budget

Budget Hearing #5 (Original Adopted Budget)– December 8th:

• Resolution to Adopt the 2016 Original Adopted Budget
• Resolution to Certify County Mill Levy
• Resolution to Authorize the Treasurer to Transfer between funds

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Questions?

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