E L P ASO C OUNTY C OLORADO 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” 2 El Paso County Budget Administration
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 3 El Paso County Budget Administration
2016 Preliminary Balanced Budget Sales & Use Tax Projections $91.0 $87.1 $82.6 $100 4.50% 5.50% $78.4 5.38% $74.9 4.68% $69.0 8.46% $69.1 $67.7 $67.5 (2.05%) $64.6 $80 2.74% 3.92% (4.46%) $60 $40 $20 $0 4 El Paso County Budget Administration
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 5 El Paso County Budget Administration
2016 Preliminary Balanced Budget Property Tax $60.0 $48.6 $47.3 $46.2 8.08% $50.0 2.46% $44.9 $44.7 $44.0 3.38% $43.5 $43.6 $42.4 2.37% 2.75% 0.82% 2.90% 11.52% (10.44%) $38.9 4.15% $40.0 $37.4 $30.0 $20.0 $10.0 $0.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Projection 6 El Paso County Budget Administration
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 7 El Paso County Budget Administration
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 8 El Paso County Budget Administration
2016 Preliminary Balanced Budget Compiling the 2016 Budget • Critical Items to Consider: – Compensation Study • Should be completed by September 30 th • 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 9 El Paso County Budget Administration
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 10 El Paso County Budget Administration
2016 Budget Process Budget Hearing #2 (Original Adopted Budget) – October 29 th : • Department/Offices Critical Needs Presentations Budget Hearing #3 (Original Adopted Budget) – November 5 th : • 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 8 th : • Resolution to Adopt the 2016 Original Adopted Budget • Resolution to Certify County Mill Levy • Resolution to Authorize the Treasurer to Transfer between funds 11 El Paso County Budget Administration
Questions? 12 El Paso County Budget Administration
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