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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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Presentation Transcript
presentation overview
Presentation Overview
  • Preliminary Revenue Projections
    • Assessed Value
    • Revenue Projections
  • Funding Requests
    • County Services and Enhancements
    • Debt Service/Capital
    • Education Services
projected assessed value
Projected Assessed Value

Note: Estimated FY2008 1¢ = $9,043,851

total projected major revenues
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.

choices
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
board s 3 year emphasis action attention needed beginning in fy08

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
board s 3 year emphasis action attention needed within two years

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
board s 3 year emphasis maintain improve performance over next three years

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
fy2008 funding requests
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
preliminary service enhancements
Preliminary Service Enhancements
  • CHS $15.1 Million
  • GME 3.3 Million
  • EEG 2.1 Million
  • SEEO 8.2 Million
  • Total $28.7 Million
key county cost reductions
Key County Cost Reductions

Note: Does not include efficiency savings at this time.

projected debt service increases
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

preliminary paygo lottery funding
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
requested education increases
Requested Education Increases
  • CMS Operating $30,374,000
  • CMS Capital Replacement $ 5,300,000
  • CPCC $ 2,300,000
outside agencies
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
preliminary funding gap
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)
summary
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.