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Preliminary FY2008 Revenue Projections and Funding Requests

Preliminary FY2008 Revenue Projections and Funding Requests. April 10, 2007. Presentation Overview. Preliminary Revenue Projections Assessed Value Revenue Projections Funding Requests County Services and Enhancements Debt Service/Capital Education Services. Projected Assessed Value.

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Preliminary FY2008 Revenue Projections and Funding Requests

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  1. Preliminary FY2008 Revenue Projections and Funding Requests April 10, 2007

  2. Presentation Overview • Preliminary Revenue Projections • Assessed Value • Revenue Projections • Funding Requests • County Services and Enhancements • Debt Service/Capital • Education Services

  3. Projected Assessed Value Note: Estimated FY2008 1¢ = $9,043,851

  4. Total Projected Major Revenues Note: A portion of Sales Tax and Investment Income is dedicated to DebtService and not available for general appropriation. Note: Fund Balance available for general appropriation = $40 M, an increase of $6.1 M from FY2007.

  5. Choices • Revenue growth is healthy, providing the Board with greater flexibility in making choices. • However, expenditures are also increasing. • Requests for funding are based on: • Providing the current service level • Addressing the Board’s 3 Year Emphasis

  6. Community Health & Safety • Reduce Diseases and Mental Illness • Increase Efficiency of Criminal Justice Services • Reduce Violence, Injury and Emotional Harm GrowthManagement & Environment • Improve Air, Water, & Land • Improve/Expand Parks, Open Space, Greenways & Recreational Opportunities Effective & Efficient Government • Reduce/Avoid Costs • Maintain Affordable & Competitive Tax Rate Social, Education & Economic Opportunity • Increase Literacy & Workforce Preparedness • Increase Citizen Self-Sufficiency • Increase Respect/Appreciation of Ethnic & CulturalDiversity Board’s 3 Year EmphasisAction/Attention Needed Beginning in FY08

  7. GrowthManagement & Environment • Improve Access to Public Facilities Effective & Efficient Government • Enhance Workforce Retention & Recruitment • Improve Financial Management • Maintain Triple-A Bond Rating • Enhance Citizen Involvement • Increase Customer & Stakeholder Satisfaction • Increase Employee Motivation & Satisfaction • Increase Employee Knowledge, Skills, and Abilities • Improve Technology-Related Capacities • Increase Employee Access to Information Board’s 3 Year EmphasisAction/Attention Needed Within Two Years

  8. GrowthManagement & Environment • Preserve Historic Sites and Landmarks • Increase Economic Development & Job Opportunities Effective & Efficient Government • Increase Citizen Awareness of County Responsibilities,Services, and Results • Improve Employee Efficiency Board’s 3 Year EmphasisMaintain/Improve Performance Over Next Three Years

  9. FY2008 Funding Requests • Preliminary Funding Request Summary • County Services • Preliminary Current Service Level and Service Enhancements • Addressing the Board’s 3 Year Emphasis • Debt Service • Debt Service • Paygo • Education Services

  10. Preliminary Funding Request Summary Updated: April 11, 2007

  11. Key County Funding Requests

  12. Preliminary Service Enhancements • CHS $15.1 Million • GME 3.3 Million • EEG 2.1 Million • SEEO 8.2 Million • Total $28.7 Million

  13. Key County Cost Reductions Note: Does not include efficiency savings at this time.

  14. Projected Debt Service Increases • CMS Debt $17,223,000 • Less Lottery Funds (7,500,000) • Net CMS Debt 9,723,000 • CPCC Debt 507,000 • General Debt 5,278,000 • Net Debt Service $15,508,000 Note: Less Dedicated Revenues

  15. Preliminary PayGo/Lottery Funding • Paygo – Phase in Full Funding • FY2006 = 70% of new add’l ½¢ $22.2 M • FY2007 = 24% $ 8.3 M/$13.2 M • FY2008 = 75% $28.5 M • An investment of $20.2 M • Education Paygo – Continue current lottery proceeds strategy • 50% for debt service $7.5 M • 50% set aside $7.5 M

  16. Requested Education Increases • CMS Operating $30,374,000 • CMS Capital Replacement $ 5,300,000 • CPCC $ 2,300,000

  17. Outside Agencies • Increase in number of applicants • FY2007 38 Funded; 56 Applicants • FY2008 64 Applicants • FY2007 Appropriation $ 6.1 M • FY2008 Request $10.1 M

  18. Preliminary Funding Gap • Projected County Revenue Growth $62.4 M • Key County Funding Requests (Net of reductions) 23.3 M • Projected Debt Services/Paygo 35.7 M • Education Services 24.2 M • Total Preliminary Services Request 83.2 M • Gap - Subtotal (20.8 M) • Requested County Service Enhancements 28.7 M • Additional Outside Agency Requests 4.0 M • Requested Education Service Enhancements 13.9 M • Total Preliminary Service Enhancement Requests 46.6 M • Gap – Total ($67.4 M)

  19. Summary • Healthy revenue growth allows for consideration of a wider range of choices. • However, expenditures are also growing quickly. • As always, the Board will have choices to make. • County Manager will present a balanced budget which prioritizes these choices.

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