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

October 2009 Financial Status Update Financial Status Update 1

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 Intergovernmental $ 29 058 286 $ 29,058,286 $ 2 256 734 $ 2,256,734 Charges for Services $ 17,785,553 $ 2,151,981 Fines/Forfeits $ 1,629,335 $ 313,017 Miscellaneous Mi ll $ 5,125,767 $ 5 125 767 $ $ 204,037 204 037 Transfer In $ 3,258,363 $ 17,551 TOTAL $163,925,935 $12,123,856 2

County Excise Tax % Change over Prior Year % Ch P i Y (Sales Month) 30% 20% 10% 0% -10% 10% -20% -30% 30% -40% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY08 FY09 FY10 3 FY 10 Actual: -28% Compared to Prior Year

County Excise Tax y ( Deposit Month) Month Budget g Actual Variance % Sept $1,100,000 $975,578 ($124,422) (11%) Oct $1,100,000 Nov Nov $1 300 000 $1,300,000 Dec $1,300,000 Jan $1,400,000 Feb $1,500,000 Mar $1,300,000 Apr p $1,300,000 $ , , May $1,100,000 Jun $1,100,000 Jul Jul $1 100 000 $1,100,000 Aug $1,000,000 4

State Shared Sales Tax % Change over Prior Year % Change over Prior Year (Sales Month) 10% 10% 5% 0% -5% -10% -15% -20% -25% -25% -30% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY08 FY09 FY10 5

State Shared Sales Tax (Deposit Month) Month Budget g Actual Variance % Sep $1,500,000 $1,476,618 ($23,382) (1.6%) Oct $1,500,000 Nov Nov $1 500 000 $1,500,000 Dec $1,700,000 Jan $1,900,000 Feb $1,900,000 Mar $1,900,000 Apr p $1,500,000 $ , , May $1,500,000 Jun $1,400,000 Jul Jul $1 400 000 $1,400,000 Aug $1,400,000 6

Vehicle License Tax % Change over Prior Year % Change over Prior Year (Sales Month) 25% 25% 20% 15% 10% 5% 0% % -5% -10% -15% 15% -20% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY08 FY09 FY10 7

Vehicle License Tax (Deposit Month) Month Budget g Actual Variance % Sep $600,000 $681,361 $ 81,361 13.5% Oct $650,000 Nov Nov $650 000 $650,000 Dec $600,000 Jan $550,000 Feb $500,000 Mar $450,000 Apr p $400,000 $ , May $400,000 Jun $400,000 Jul Jul $400 000 $400,000 Aug $400,000 8

Building Permits Month Budget g Actual Variance % Jul $100,000 $168,068 $68,068 68% Aug $100,000 $151,701 $51,701 51% Sep Sep $100 000 $100,000 $115,263 $15,263 15% $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 May $ 80 000 $ 80,000 Jun $ 90,700 9

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 10

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 11

October 2009 Financial Status Update Financial Status Update 12