Financial Overview Components of General Fund Expenditures Other - - PowerPoint PPT Presentation

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Sep 25, 2023 243 likes •358 views

Financial Overview Components of General Fund Expenditures Other Costs 15% Debt Service 3% Personnel Costs 44% Grant Matching 13% Healthcare for Active Employees 13% of Personnel Cots Appropriations 14% Retiree Healthcare 11%

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Financial Overview

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Components of General Fund Expenditures

Personnel Costs 44% Healthcare for Active Employees 13% of Personnel Cots Retiree Healthcare 11% Appropriations 14% Grant Matching 13% Debt Service 3% Other Costs 15%

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General Fund Fringes Estimated Cost Fiscal Year Ended September 30, 2020 Health care, dental, and vision for active employees 6,300,000 $ Defined contribution retirement payments 2,000,000 Defined benefit pension contributions 7,000,000 Retiree health care 18,000,000 33,300,000 $ Prior to delivering one service, the General Fund incurs $33.3 million in expenditures.

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$70,000,000 $75,000,000 $80,000,000 $85,000,000 $90,000,000 $95,000,000 $100,000,000 $105,000,000 $110,000,000 $115,000,000 $120,000,000 $70,000,000 $75,000,000 $80,000,000 $85,000,000 $90,000,000 $95,000,000 $100,000,000 $105,000,000 $110,000,000 $115,000,000 $120,000,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020** Revenue Expenditures *Amended Budget for 2019 ** Projected Budget for 2020

General Fund – Revenue and Expenditures

Increases in revenue in 2016 and 2017 were related to nonrecurring items

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Retirees Receiving Health Care Benefits

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Projected PAY-Go Costs

5000000 10000000 15000000 20000000 25000000 30000000 35000000 Current Retirees Future Retirees

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$0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $31,000,000 $36,000,000 $41,000,000 $46,000,000 $51,000,000 $56,000,000 $61,000,000 $66,000,000 $71,000,000 $76,000,000

Tax Revenue and Cost of Retiree Healthcare

Revenue from Taxes - General Fund Cost for Retiree Healthcare * Projected tax revenue amounts for 2019 and 2020 **Assumed 2% rate of inflation for taxable revenue increases and projected healthcare costs per actuary valuation

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Cost of Retiree Benefits – June 2019

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Retiree Health Care Costs by Month October 1, 2018-September 30, 2019

$0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000

*Projected amounts

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General Fund –Projection of Use of Fund Balance

$2,000,000

$3,000,000 $8,000,000 $13,000,000 $18,000,000 $23,000,000 $28,000,000 $33,000,000 $38,000,000 2019* 2020** 2021** 2022** 2023** General Fund - Fund Balance

* Projected 2019 Fund Balance ** Fund balance decreased each year by the projected 2020 use of Fund Balance