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Budget Background Information and FY 11 Outlook for Board of County Commissioners Goal Setting/Budget Retreat February

Budget Background Information and FY 11 Outlook for Board of County Commissioners Goal Setting/Budget Retreat February 16, 2010. BUDGET BACKGROUND INFORMATION. DISTRIBUTION OF FY2010 BUDGET by FUND TYPE. FY10 GENERAL FUND REVENUES.

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Budget Background Information and FY 11 Outlook for Board of County Commissioners Goal Setting/Budget Retreat February

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  1. Budget Background Information and FY 11 Outlook for Board of County Commissioners Goal Setting/Budget Retreat February 16, 2010

  2. BUDGET BACKGROUND INFORMATION

  3. DISTRIBUTION OF FY2010 BUDGET by FUND TYPE

  4. FY10 GENERAL FUND REVENUES

  5. Ad Valorem Taxes FY07 – FY10(excluding voted debt service taxes) Statutory 5% Rollback

  6. Ad Valorem Taxes FY07 – FY10(excluding voted debt service taxes) Amendment 1 Year

  7. Ad Valorem Taxes FY07 – FY10(excluding voted debt service taxes) Economic Recession

  8. FY08 – FY10 GENERAL FUND BUDGET GAPS

  9. SUMMARY OF ACTIONS TAKEN TO ADDRESS BUDGET GAPS($ IN MILLIONS)

  10. DISTRIBUTION OF FY10 PROPERTY TAXES • General Fund - $708.5 • General Capital Outlay - $19.0 • Voted Debt Service - $74.4

  11. Allocation of FY10 General Fund Taxes

  12. SUMMARY OF GENERAL FUND BUDGET CHANGES ($ in millions)

  13. Key Direct Service Reductions County Commission Agencies (FY07-FY10) • Libraries • Library Hours Per Week: Decreased 13% • Materials: Decreased from $7.9M to $6.5M • Parks • Closed most regional parks two days per week • Reduced number of programs and special events • Transit • route changes (headways, truncations, etc) • community bus eliminations

  14. TAX SUPPORTED FUNDS OUTLOOK

  15. ECONOMIC CONDITIONS & TAX ROLL INFORMATION

  16. KEY FACTORS IN 2009 IMPACTING VALUE OF TAX ROLL • Low Consumer Confidence (High Unemployment) • Excess Housing Inventory • High Level of Residential Foreclosures • Downturn in Commercial Market

  17. BROWARD COUNTYUNEMPLOYMENT RATES

  18. FORECLOSURE DATA BY MONTH

  19. CASE SHILLER HOME PRICE INDEX LEVELS METRO AREAS

  20. PROPERTY APPRAISER’S PRELIMINARY FY11 ESTIMATES • 16% countywide decline • City declines range from 6% to 36% • Unincorporated decline is 21%

  21. STATE REVENUE ESTIMATING CONFERENCE PROJECTIONS OF PROPERTY VALUE CHANGE(FOR SCHOOL BUDGETING PURPOSES) FY 11 -11.3% FY 12 - 5.1% FY 13 - 1.6% FY 14 - 0.3% FY 15 3.2%

  22. TOTAL TAXABLE PROPERTY VALUE % Change FY2006 – FY2015

  23. FY11 REVENUE & EXPENSE FORECASTS

  24. POTENTIAL IMPACT OF TAX ROLL DECLINE ON PROPERTY TAXES AT CURRENT RATE

  25. OTHER GENERAL FUND REVENUES(EXCLUDING PROPERTY TAXES) • FY10 - $266 M • Most revenues have stabilized • Anticipate a slow multi-year recovery beginning in FY12 • Overall projected flat for FY11

  26. COUNTY OPERATIONSKEY EXPENSE VARIABLES • FRS Rates • Fuel Prices • Health Insurance Premiums • Property Insurance

  27. CONSTITUTIONAL OFFICERS KEY EXPENSE VARIABLES • Compensation • FRS Rates • Fuel Prices • Health Insurance Premiums • Jail Population • City Contracts

  28. CONSTITUTIONAL OFFICERS KEY EXPENSE VARIABLES cont’d • Inmate Food & Health Care Contracts • Post Employment Benefits • Crime Lab Funding - $5.7M in FY10 one-time funding • Impact of Use of One-Time Funds or Deferred Expenses in FY10 (other than Crime Lab) • Property Appraiser - $2.2M • Sheriff’s Office - $8M

  29. FY 11 POTENTIAL GENERAL FUND BUDGET GAPS *Excludes OPEB impacts and State cuts/additional mandates

  30. ALLOCATION OF GENERALLY FUNDED APPROPRIATIONS SUBJECT TO REDUCTION(EXCLUDES TIFS, RESERVES, AND STATE MANDATED HEALTH & JUVENILE JUSTICE PAYMENTS)

  31. CURRENT CONDITIONS & RECOMMENDED STRATEGIES

  32. CURRENT CONDITIONS • Service Demands • Workforce

  33. RECOMMENDED STRATEGIES • No raises • Continuation of furlough days • No new services or service enhancements • Alternative service delivery methods • Program eliminations • Further service adjustments based on utilization

  34. RECOMMENDED STRATEGIES cont’d • Direct further efficiency efforts • Comprehensive outside review of parks & libraries • Further investments in technology • Fund first two years of new courthouse debt with one-time fund balance

  35. RECOMMENDED STRATEGIES cont’d • Continue investments in capital maintenance & replacement facilities • Responsible use of reserves • Propose no tax increase budget (as defined by State) in July with contingency options to reduce millage

  36. NEXT STEPS • Communication to Constitutional Officers • Workshops • Constitutional Office Budgets/Other Major Funds (May) • General Fund/General Capital Outlay (June)

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