October 2009 Financial Status Update Financial Status Update 1 - - PowerPoint PPT Presentation

October 2009 Financial Status Update Financial Status Update

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General Fund Revenue

Period Ending September 30, 2009

Category Budget Actual Taxes $105,601,600 $ 6,614,192 License & Permits $ 1,467,031 $ 566,344 Intergovernmental $ 29 058 286 $ 2 256 734 Intergovernmental $ 29,058,286 $ 2,256,734 Charges for Services $ 17,785,553 $ 2,151,981 Fines/Forfeits $ 1,629,335 $ 313,017 Mi ll $ 5 125 767 $ 204 037 Miscellaneous $ 5,125,767 $ 204,037 Transfer In $ 3,258,363 $ 17,551 TOTAL $163,925,935 $12,123,856

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County Excise Tax % Ch P i Y % Change over Prior Year

(Sales Month)

20% 30% 10% 0% 10%

• 30%
• 20%
• 10%
• 40%

30% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

3 FY 10 Actual: -28% Compared to Prior Year

FY08 FY09 FY10

County Excise Tax y

( Deposit Month) Month Budget Actual Variance % g

Sept $1,100,000 $975,578 ($124,422) (11%) Oct $1,100,000 Nov $1 300 000 Nov $1,300,000 Dec $1,300,000 Jan $1,400,000 Feb $1,500,000 Mar $1,300,000 Apr $1,300,000 p $ , , May $1,100,000 Jun $1,100,000 Jul $1 100 000 Jul $1,100,000 Aug $1,000,000

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State Shared Sales Tax % Change over Prior Year % Change over Prior Year

(Sales Month)

10% 0% 5% 10%

• 10%
• 5%
• 25%
• 20%
• 15%
• 30%
• 25%

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

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FY08 FY09 FY10

State Shared Sales Tax

(Deposit Month)

Month Budget Actual Variance % g

Sep $1,500,000 $1,476,618 ($23,382) (1.6%) Oct $1,500,000 Nov $1 500 000 Nov $1,500,000 Dec $1,700,000 Jan $1,900,000 Feb $1,900,000 Mar $1,900,000 Apr $1,500,000 p $ , , May $1,500,000 Jun $1,400,000 Jul $1 400 000 Jul $1,400,000 Aug $1,400,000

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Vehicle License Tax % Change over Prior Year % Change over Prior Year

(Sales Month)

25% 15% 20% 25% 0% 5% 10% 15%

• 10%
• 5%

%

• 20%
• 15%

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

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FY08 FY09 FY10

Vehicle License Tax

(Deposit Month)

Month Budget Actual Variance % g

Sep $600,000 $681,361 $ 81,361 13.5% Oct $650,000 Nov $650 000 Nov $650,000 Dec $600,000 Jan $550,000 Feb $500,000 Mar $450,000 Apr $400,000 p $ , May $400,000 Jun $400,000 Jul $400 000 Jul $400,000 Aug $400,000

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Building Permits

Month Budget Actual Variance % g

Jul $100,000 $168,068 $68,068 68% Aug $100,000 $151,701 $51,701 51% Sep $100 000 $115 263 $15 263 15% Sep $100,000 $115,263 $15,263 15% Oct $ 80,000 Nov $ 80,000 Dec $ 70,000 Jan $ 60,000 Feb $ 60,000 $ , Mar $ 70,000 Apr $ 80,000 May $ 80 000 May $ 80,000 Jun $ 90,700

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General Fund Revenue Outlook

• FY 2010 beginning fund balance as projected

FY 2010 beginning fund balance as projected

• County sales tax down 28% compared to

prior year prior year

– No positive variances since August 2008 – Construction portion of sales tax remains weak Construction portion of sales tax remains weak

• State shared sales tax down 20% compared

to prior year to prior year

– No positive variances since May 2008

• Vehicle License Tax and Building Permits on
• Vehicle License Tax and Building Permits on

budget for year to date

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General Fund Expenditure Trends

• Hiring Freeze – June 30 2010

Hiring Freeze June 30, 2010

• Service level pressure to restore

eliminated positions eliminated positions

• General Fund Contingency

– Restore grant/state funded positions – Mid-year new program request

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October 2009 Financial Status Update Financial Status Update

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