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Budget Committee Presentation May 2, 2013 Christine Moody, Budget & Financial Planning Manager. Total Budget Overview. Current FY 12-13 Modified Budget $500.1 million Proposed FY 13-14 Budget $466 million Reduction $34.0 million or 6.8% FTE: Down 17.85 or 1.3%. Budget Basics - 1.
May 2, 2013
Christine Moody, Budget & Financial Planning Manager
Lane County budgets to Department Level with one Non-Department (General Expense)
Revenue & Expenditures
Resources & Requirements
REVENUE v. RESOURCES
EXPENDITURES v. REQUIREMENTS
Expenditure: on-going expenditures required for operations including Personnel, Materials & Services, Capital Outlay, & Debt Service
Requirements: Includes Expenditures PLUS transfers, operating contingency/reserves, and unappropriated ending fund balance (UEFB).
Balanced Budget when Resources = Requirements
Revenues & Resources in FY 13-14:
REVENUE TOTAL: $297,134,926
RESOURCE TOTAL: $466,056,549
Difference: $143,832,891 in beginning fund balance
$21,315,160 in fund transfers
$3,773,572 in other fiscal transactions
Expenditures & Requirements in FY 13-14:
EXPENDITURE TOTAL: $336,859,630
REQUIREMENT TOTAL: $466,056,549
Difference: $21,315,160 in fund transfers
$3,873,572 in other fiscal transactions
$85,149,659 in contingency/reserves
Property Tax detail: GF: $34.0 million
JJC Bond: $2.9 million
School Fund: $158 thousand
Lane County’s Property Tax revenue has twodistinct issues that add to budget imbalance:
#1 – The Rate
#2 – The Growth of the Tax
THE RATE: $1.2798 per thousand assessed value
$200,000 assessed value = $256 dollars per year
How does this compare to other local governments?
Clearly shows economic recession.
Graphic showing state, federal & property taxes
Since 2000, Secure Rural Schools Timber payments have provided $480.7 million in revenue to Lane County as follows:
General Fund – $150 million Road Fund - $209.3 million million
School Fund – $69.7 million Title 2/3 Funds - $51.7 million
REQUIREMENTS BY TYPE:
RESERVES overall are down 17% in FY 13-14
Where to find out more: www.lanecounty.org/budget
> Proposed Budget Document
> Service Option Sheets**
**Information on services provided with Discretionary General Fund usage, level of mandates County must follow, leverage generated.
General Fund will continue to experience a deficit in the coming years.
FY 14-15 – Beginning Fund balance will be smaller after FY 12-13 SRS payment is spent – will have to reduce services to balance.
FY 15-16 forward – structural deficit and few smaller revenue adjustments.
FY 14-15: $4+ million
FY 15-16: $1.5-2 million
FY 16-17 & forward approximately $0.5 million
Lane County Government will work to create a prosperous community by providing collaborative leadership, fair and inclusive decision making, and excellent sustainable local government services to our residents and guests.