financial update january 2011. total general fund revenues total revenues in fy11 are running about...

Financial UpdateFinancial Update

January 2011January 2011

Total General Fund Revenues Total General Fund Revenues

Total Revenues in FY11 are running about Total Revenues in FY11 are running about $2.2M higher than budgeted$2.2M higher than budgeted

Updated FY12 Revenues are now $3.0M Updated FY12 Revenues are now $3.0M more than plannedmore than planned

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$159.8M $162.0M $160.9M $163.9M

General Property TaxesGeneral Property Taxes

Increases in:Increases in:– Real Estate growthReal Estate growth– Personal Property valuesPersonal Property values– Machinery & ToolsMachinery & Tools– Public ServicePublic Service

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$106.2M $107.9M $107.0M $109.5M

New Construction Building Permits IssuedNew Construction Building Permits IssuedJuly-DecJuly-Dec

New Construction Building Permit ValuesNew Construction Building Permit ValuesJuly-Dec (in millions)July-Dec (in millions)

Building Permit RevenueBuilding Permit RevenueJuly-Dec (in millions)July-Dec (in millions)

Building Related RevenuesBuilding Related Revenues(in millions)(in millions)

Licenses, Permits and FeesLicenses, Permits and Fees

Building Permits increasedBuilding Permits increased BPOL level with current year (down from BPOL level with current year (down from

plan)plan)

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$6.2M $6.3M $6.4M $6.4M

Other Local TaxesOther Local TaxesJuly-November (in millions)July-November (in millions)

Local TaxesLocal Taxes

Sales Tax projection loweredSales Tax projection lowered Meals and Lodging flatMeals and Lodging flat Bank Franchise Fee increasedBank Franchise Fee increased

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$18.2M $18.0M $18.4M $18.1M

State RevenuesState Revenues

State Sales Tax for Education increasedState Sales Tax for Education increased• $900,000 for FY11$900,000 for FY11• $1.2M over FY12 Plan amount$1.2M over FY12 Plan amount

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$23.4M $24.5M $23.3M $24.8M

Charges for Current ServicesCharges for Current Services

Recreation Revenue estimate decreasesRecreation Revenue estimate decreases• $400,000 for FY11$400,000 for FY11• $500,000 from FY12 Plan amount$500,000 from FY12 Plan amount

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$5.0M $4.6M $5.1M $4.5M

RecapRecapTotal General Fund RevenuesTotal General Fund Revenues

Total Revenues in FY11 are running about Total Revenues in FY11 are running about $2.2M higher than budgeted$2.2M higher than budgeted

Updated FY12 Revenues are now $3.0M Updated FY12 Revenues are now $3.0M more than plannedmore than planned– Of that, $1.2M in Sales Tax for EducationOf that, $1.2M in Sales Tax for Education

FY11 Budget

FY11 Estimate

FY12 Plan

FY12 Update

$159.8M $162.0M $160.9M $163.9M