E L P ASO C OUNTY C OLORADO 2015 Preliminary Balanced Budget Budget - - PowerPoint PPT Presentation

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E L P ASO C OUNTY C OLORADO 2015 Preliminary Balanced Budget Budget - - PowerPoint PPT Presentation

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E L P ASO C OUNTY C OLORADO 2015 Preliminary Balanced Budget Budget Hearing #1 October 7, 2014 Nicola Sapp County Budget Officer 2015 Preliminary Balanced Budget Process Change For the 2015 Preliminary Balanced Budget In compliance with

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EL PASO COUNTY COLORADO 2015 Preliminary Balanced Budget Budget Hearing #1 October 7, 2014

Nicola Sapp County Budget Officer

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SLIDE 2

2015 Preliminary Balanced Budget

Process Change

For the 2015 Preliminary Balanced Budget

In compliance with State Statute we are presenting a Preliminary Balance Budget (PBB)

  • Within this process

– Providing updated revenue estimates for 2015 – Changes to expenditures based on known and previously directed items – Open for public inspection until the Original Adopted Budget is passed – http://adm.elpasoco.com/BudgetAdministration/Budget/Pages/default.aspx

  • The Budget Officer will provide a Comprehensive Budget Review

between the PBB and Original Balanced Budget Process

  • Original Adopted Budget Process will commence on November 4th

with Critical Needs and will finalize with the Adoption of the 2015 Budget by December 15, 2014

El Paso County Budget Administration

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SLIDE 3

2015 Preliminary Balanced Budget

Compiling the 2015 Budget

Changes to revenue estimates:

  • Sales & Use Tax

– As of July 31, 2014 Actual Collections are up 5.63% (cumulative) over 2013

  • Food Services and Retail are trending increases of 3.6%-4.3%

– The true trending increase over the last five years is 4.00% – Staff recommends for 2015 using 4.00%

El Paso County Budget Administration

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SLIDE 4

2015 Preliminary Balanced Budget

Compiling the 2015 Budget

Changes to revenue estimates:

  • Sales & Use Tax

– All construction is showing a slight decline – Total number of Permits pulled for 2014 are (cumulative):

  • Down Slightly 0.22% below 2013
  • Up 44.26% over 2007
  • Down 16.52% down for Single Family below 2013
  • Up 13.01% for Commercial over 2013

– Total Value of Pulled Permits for 2014 are

  • Down 9.45% below 2013
  • Up 31.98% over 2007
  • Down 7.67% for Single Family below 2013
  • Down 32.77% for Commercial below 2013

El Paso County Budget Administration

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2015 Preliminary Balanced Budget

Sales & Use Tax Projections

El Paso County Budget Administration

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$0 $20 $40 $60 $80 $100 2007 2008 2009 2010 2011 2012 2013 2014 Projected 2015 Projected

$69.1 $67.7

(2.05%)

$64.6

(4.46%)

$67.5

3.92%

$69.0

2.74%

$74.9

8.46%

$78.4

5.50%

$82.3

5.00%

$85.6

4.00%

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SLIDE 6

2015 Preliminary Balanced Budget Property Tax – Increase of 2.3%

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El Paso County Budget Administration

$37.4 $39.8 4.15% $43.5 11.52% $44.7 2.75% $46.2 3.38% $47.3 2.46% $42.9 (10.44%) $43.6 1.99% $44.0 0.00% $45.0 2.26%

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

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2015 Preliminary Balanced Budget

Changes to Revenue Estimates / Reclassifications

Compiling the 2015 Budget:

– Elected Office Fees

  • Vary based on Historical Analysis and Statutory Impacts

– Clerk’s Recording are trending down – Intergovernmental is trending up

  • Retaining 2014 Expenditure Budgets

– No restoration of previous budget cuts

  • BoCC will provide direction at time of the Original Adopted

Budget

El Paso County Budget Administration

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2015 Preliminary Balanced Budget

Unrestricted General Fund Projections

El Paso County Budget Administration 8

2015 Beginning Operational Savings (2,118,297) Revenue Projections 114,078,293 Budgeted (Net) Expenditures (111,869,352) Ending Operational Savings 90,644

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2015 Preliminary Balanced Budget

Unrestricted General Fund Projections After Mandates

El Paso County Budget Administration 9

2015 Beginning Operational Savings (2,118,297) Revenue Projections 114,078,293 Budgeted (Net) Expenditures (111,869,352) Ending Operational Savings 90,644 Eliminate Remaining "Equity Placeholder" 262,215 Net Impact - Clerk & Recorder Election 300,000 TABOR (2,044,758) Ending Operational Savings -REVISED (1,391,899)

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In Summary

  • In 2015, Revenue will exceed

expenditures, but the TABOR Impact absorbs it

– There are no one-time or on-going available funds for 2015

  • We will have to carefully manage

cashflow in 2015, until we can recover in 2016

El Paso County Budget Administration

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2015 Budget Process

Budget Hearing #1 & #2 (Preliminary Balanced Budget)– October 7th:

  • County Budget Officer – 2015 Preliminary Balanced Budget Presentation
  • Statutory Presentation of 2015 Preliminary Balanced Budget

Additional Budget Hearing – TBD:

  • County Budget Officer – Five Year Forecast

Budget Hearing #3 (Original Adopted Budget) – November 4th

  • Department/Offices Critical Needs Presentations

Budget Hearing #4 (Original Adopted Budget)– November 6th :

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

Budget Hearing #5 (Original Adopted Budget)– November 18th:

  • BoCC Direction on the 2015 Original Adopted Budget

Budget Hearing #6 (Original Adopted Budget)– December 9th:

  • Resolution to Adopt the 2015 Original Adopted Budget
  • Resolution to Certify County Mill Levy
  • Resolution to Authorize the Treasurer to Transfer between funds

December 22, 2014:

  • BOCC to levy taxes and certify mill levies to the State and Assessor

January 31, 2015:

  • Certified copy of 2015 Original Adopted Budget filed with DOLA

El Paso County Budget Administration

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SLIDE 12

Questions?

El Paso County Budget Administration

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