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Auditor Frank J. Gliha
Chief Fiscal Officer of Geauga County
Economic State of Geauga County
2012
Moody's Investors Service, often referred to as Moody's. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities and, with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Investors Service rates debt securities including government, municipal and corporate bonds; In Moody's Investors Service's ratings system securities are assigned a rating from Aaa to C, with Aaa being the highest quality and C the lowest quality. Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.
Frank J. Gliha, Geauga County Auditor
Moody’s Corporation
Frank J. Gliha, Geauga County Auditor
MOODY’s Ranking Of Geauga County
SOLID FINANCIAL OPERATIONS EXPECTED TO
REMAIN STABLE IN FISCAL 2012
2010 Moody's upgraded our Bond rating to AA1
2011 Moody's confirmed our Bond rating to AA1
2010 Interest on Safety Center Notes of $2.5 million - .74%
2011 Interest on Safety Center Notes of $2 million - .64%
2012 Interest on SC & 800 Communications Notes of $5.5
million - .49%
2012 County will pay $26,840 interest to rent $5.5 Million
Frank J. Gliha, Geauga County Auditor
Geauga County Financials
As the Auditor I concur with Moody’s ranking and feel the
county is Financially very sound.
Frank J. Gliha, Geauga County Auditor
Geauga County’s Largest Private Employers
Kraftmaid, Inc. Manufacturer 1078
University Hospital Health Systems Hospital 840
Home Depot Retailer 951
Great Lakes Cheese Manufacturer 578
Dillen Products Manufacturer 423
Health Hill Inc. Healthcare Provider 320
Hexpol Compounding Manufacturer 225
Mercury Plastics Manufacturer 214
Bicron/Saint-Gobain Crystals Manufacturer 197
Kinetico Inc. Manufacturer 187
Gold Key Processing Manufacturer 176
Flambeau, Inc. Manufacturer 142
Mar-Bal, Inc. Manufacturer 135
Manufacturing Employment in Ohio up 2.76% from 2011
Frank J. Gliha, Geauga County Auditor
Northeast Ohio Manufacturing up 2.41% from 2011
Frank J. Gliha, Geauga County Auditor
Construction Employment in Ohio up 2.10% from 2011
Frank J. Gliha, Geauga County Auditor
Private Sector Employment in Ohio up 1.98% from 2011
Frank J. Gliha, Geauga County Auditor
Northeast Ohio Private Sector Employment up 2.00% from 2011
Frank J. Gliha, Geauga County Auditor
Frank J. Gliha, Geauga County Auditor
7.0
7.5
6.4
5.7 5.5
6.1
5.7
5.3 5.2
4.7
5.5 5.7
8.6 8.5
7.8
7.3
5.9
7.4 7.4
6.8
6.5 6.3
6.5 6.6
8.8
8.7
8.4
7.7 7.9
8.4
8.6
8.2
7.6 7.5
7.4 7.6
4.5
5.5
6.5
7.5
8.5
9.5
2012 Unemployment Comparison Geauga
Ohio
National
Frank J. Gliha, Geauga County Auditor
Surrounding Counties
Frank J. Gliha, Geauga County Auditor
Frank J. Gliha, Geauga County Auditor
Geauga County Government Yearly Payments for Unemployment
Living in Geauga County
Frank J. Gliha, Geauga County Auditor
Food COSTS are forever rising But we are fortunate in the Chardon area to have
Giant Eagle Heinen’s Marc’s Aldi Wal-Mart
Living in Geauga County
Frank J. Gliha, Geauga County Auditor
2008 2011 2012
Loaf of Bread $1.68 $1.98 $2.49
12 Pk of Water $1.90 $2.63 $2.68
Lb of Tomatoes $0.68 $1.59 $1.99
Lb of Bacon $2.96 $3.98 $4.48
Gallon of Gas $3.39 $3.89 $3.91
Frank J. Gliha, Geauga County Auditor
Gas Costs Across the Country
February GF Expenses Comparison
Frank J. Gliha, Geauga County Auditor
Percent of Decrease from 2010 7.30% Percent of Decrease from 2011 10.27% Up from last year 7.28%
Expenses through February used for comparison
General Fund Expenditures
Frank J. Gliha, Geauga County Auditor
Up over $1.9 Million
General Fund Carryover up 10.48% for 2013
Frank J. Gliha, Geauga County Auditor
General Fund Revenue Analysis
Frank J. Gliha, Geauga County Auditor
Up over $1.5 million
February GF Revenue Comparison
Frank J. Gliha, Geauga County Auditor
Percent of Increase from 2010 8.49% Percent of Increase from 2011 3.45% Up from last Year 3.32%
Revenue through February used for comparison
Investment Revenue down 22.45%
Frank J. Gliha, Geauga County Auditor
$2,359,982.05 $2,465,582.91
$1,541,235.86
$1,095,250.13
$744,290.04
$577,209.00
$1,463,925.00
4.47%
-37.49%
-28.94%
-32.04%
-22.45%
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2007 2008 2009 2010 2011 2012
Investment Revenue
Revenue
Average
Based on an estimated $26.5 million invested and $27 million in interest bearing accounts
Frank J. Gliha, Geauga County Auditor
Young Adult Savings
Local Government Fund
Frank J. Gliha, Geauga County Auditor
$1,215,743 $1,196,847
$1,026,531
$1,041,188 $1,039,772
$741,497
$555,463 $566,799
$1,043,596
$0
$250,000
$500,000
$750,000
$1,000,000
$1,250,000
$1,500,000
2007 2008 2009 2010 2011 2012 Certified2013
2013Estimate
Revenue
Average
Property Transfers up 5.27 %
Frank J. Gliha, Geauga County Auditor
4,508
4,077
3,238 3,159
2,994
3,267
3,439 3,526
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2006 2007 2008 2009 2010 2011 2012
Number of Parcels
TOTAL
Average
Inmate Housing Revenue
Frank J. Gliha, Geauga County Auditor
Sales Tax Revenue up 5.69%
Frank J. Gliha, Geauga County Auditor
$10,575,693
$10,828,729
$11,558,034 $11,571,609
$10,473,880 $10,436,836
$11,065,580
$11,695,305
$11,025,708
9,500,000
10,000,000
10,500,000
11,000,000
11,500,000
12,000,000
2005 2006 2007 2008 2009 2010 2011 2012
Sales Tax Revenue
Average
March Sales Tax Comparison
Frank J. Gliha, Geauga County Auditor
Revenue through March used for comparison
Casino Revenue
Frank J. Gliha, Geauga County Auditor
2012 $243,806.00 2013 $215,874.70
Property Taxes Revenue
Frank J. Gliha, Geauga County Auditor
Property Taxes
Frank J. Gliha, Geauga County Auditor
General Fund vs. All Funds
Frank J. Gliha, Geauga County Auditor
5.81% 5.81%
Low Housing Market Inventory
Frank J. Gliha, Geauga County Auditor
New Construction
Frank J. Gliha, Geauga County Auditor
New Homes Built in Geauga
Frank J. Gliha, Geauga County Auditor
Geauga County Appraisal Department
Board of Revision
Frank J. Gliha, Geauga County Auditor
Geauga County Foreclosures
Frank J. Gliha, Geauga County Auditor
Source: Geauga County Common Pleas Court average around 350 for past 11 years
A story of Two men named Johnson one made money for his company and one is losing money for his company This story is important because history repeats itself and everyone in this room wants to make Geauga an even better place to live and raise a family and until you know the history we can ‘t change what we are doing. A story of : 1. Listening to people 2. Have respect for those who came before us…. 3. DON’T assume you have all the answers 4. be ready to be humbled by smarter people than you and I
Frank J. Gliha, Geauga County Auditor
Johnson vs. Johnson
Frank J. Gliha, Geauga County Auditor
CEO of H J Heinz CEO of JC Penney
Frank J. Gliha, Geauga County Auditor
William R. Johnson is Chairman, President and Chief Executive Officer of the H. J. Heinz Company, a global food company with sales approaching $12 billion and iconic brands, businesses and operations across six continents. Under Mr. Johnson’s leadership, Heinz has accelerated its growth in Emerging Markets and transformed its global portfolio of high-quality brands to focus on three core categories: Ketchup & Sauces, Meals & Snacks, and Infant/Nutrition Mr. Johnson earned his undergraduate degree from UCLA and his MBA from the University of Texas. He and his wife, Susie, have a son, Brad, and a daughter, Tracy.
HJ Heinz Success
Frank J. Gliha, Geauga County Auditor
Company Stock is at $72.02
Boosted Sales to 11.7 billion in 2012, 8.8% over previous year
Company purchased for $28 Billion by Buffet & 3G capital
CEO Heinz due $212.6 million for a job well done he is very well respected in his field
Ron Johnson took over JC Penny Johnson previously ran Apple's retail operations and is credited with pioneering the highly successful Apple Stores. He has also alienated much of Penney's core customer base by eliminating coupons and sales, bringing the more than 100-year-old retailer to a precarious position . He has lost 400 million for Bill Akman the board member who supports him for now. Penney's board is losing patience with Johnson's leadership and is considering either selling JC Penney ,replacing Johnson, or chapter 11 if it can't reverse a steep decline in sales within the year. According to Wall Street Journal.
Frank J. Gliha, Geauga County Auditor
JC Penney Failure
Frank J. Gliha, Geauga County Auditor
Company Stock is at $17.90 43,000 less employees in 2012 closed 11 stores
Annual Revenue down 25% Bill Akman the board member who is sponsoring
Ron Johnson has lost 400 million
In Geauga County we are doing better now than the last two years and better than our neighbors. Our Elected officials are all doing their best to contain spending. We need to improve our growth with new companies and assisting current companies to do better reduce some hurdles. WE need to listen to what companies are telling us on how they can be better. This does not mean we should start looking for issues that are not there. The County is in very good hands we just need to listen and pay attention and help out where we can.
Frank J. Gliha, Geauga County Auditor
Why is this important because I looked under the rocks in Geauga county and can find only a few slugs left
Frank J. Gliha, Geauga County Auditor
Economy needs to
improve
Housing Market is
turning around
Job Market we need
more talent
Health Care Biggest
issue out there
What is new and what are we working on for 2013…
Frank J. Gliha, Geauga County Auditor
New Challenges for 2013
Frank J. Gliha, Geauga County Auditor
Sheriff Video Access to Public Provided Cameras
Chardon Municipal Court Documentation Scanning and Management (Integration with Court View)
County-wide Documentation Scanning and Management
New Challenges for 2013
Frank J. Gliha, Geauga County Auditor
WWW Geauga Site Facelift
2013 Pictometry Flight
New World Systems-Business Analytics
New World Systems- ESuite
A quote from Voltaire: No age or time, no position or circumstance, has a monopoly on SUCCESS. Any age is the right age to start DOING!!!! Let’s work together and make Geauga County Better!! Questions????
Frank J. Gliha, Geauga County Auditor