Recommended Budget Volume One.book - Chief Executive Office ...

Financing Elements
Financing Elements Budget Summary
FINANCING ELEMENTS BUDGET SUMMARY
CLASSIFICATION
FINANCING USES
Mission Statement
Financing Elements reflect those appropriations and revenues
that are not contained in the departmental or
nondepartmental budget summaries.
2011-12 Budget Message
FY 2009-10
ACTUAL
FY 2010-11
ESTIMATED
The 2011-12 Recommended Budget includes financing uses
and financing sources as follows:
Financing Uses
The designation totaling $44.8 million is for legal or contractual
obligations and restrictions and future spending for specific
needs:
■ The Designation for Health Services Tobacco Settlement will
increase by $44.8 million for health-related costs.
FY 2010-11
BUDGET
FY 2011-12
REQUESTED
FY 2011-12
RECOMMENDED
FINANCING ELEMENTS
Budget Summaries
CHANGE FROM
BUDGET
RESERVES
GENERAL RESERVES $ 3,000,000.00 $ 0 $ 0 $ 0 $ 0 $ 0
OTHER RESERVES 260,151,622.00 22,226,000 22,226,000 0 0 (22,226,000)
DESIGNATIONS 207,555,000.00 138,780,000 63,780,000 44,769,000 44,769,000 (19,011,000)
TOTAL RESERVES $ 470,706,622.00 $ 161,006,000 $ 86,006,000 $ 44,769,000 $ 44,769,000 $ (41,237,000)
TOTAL FINANCING USES $ 470,706,622.00 $ 161,006,000 $ 86,006,000 $ 44,769,000 $ 44,769,000 $ (41,237,000)
FINANCING SOURCES
FUND BALANCE $1,713,428,000.00 $ 1,628,644,000 $ 1,628,644,000 $ 1,288,496,000 $ 1,288,496,000 $ (340,148,000)
CANCELLATION RESERVES/DESIGNATION 665,808,343.00 455,366,000 405,168,000 216,114,000 216,114,000 (189,054,000)
PROPERTY TAXES - REGULAR ROLL 3,658,232,765.85 3,654,517,000 3,654,517,000 3,682,292,000 3,682,292,000 27,775,000
PROPERTY TAXES - SUPPLEMENTAL ROLL 22,062,252.45 21,644,000 21,644,000 21,808,000 21,808,000 164,000
REVENUE 52,169,278.60 10,952,000 11,529,000 11,171,000 11,171,000 (358,000)
TOTAL FINANCING SOURCES $6,111,700,639.90 $ 5,771,123,000 $ 5,721,502,000 $ 5,219,881,000 $ 5,219,881,000 $ (501,621,000)
REVENUE DETAIL
ERAF TAX REVENUE $ 11,085,501.46 $ 10,952,000 $ 11,529,000 $ 11,171,000 $ 11,171,000 $ (358,000)
HOMEOWNER PROP TAX RELIEF 543.40 0 0 0 0 0
OTHER STATE IN-LIEU TAXES 228,603.01 0 0 0 0 0
OTHER TAXES 9,852,113.68 0 0 0 0 0
PEN INT & COSTS-DEL TAXES 31,002,517.05 0 0 0 0 0
TOTAL REVENUE $ 52,169,278.60 $ 10,952,000 $ 11,529,000 $ 11,171,000 $ 11,171,000 $ (358,000)
Financing Sources
For budgetary planning purposes, the Chief Executive Office
considers total financing sources the difference generated in
fiscal year (FY) 2010-11 from County revenues exceeding
expenditures (fund balance), the cancellation of prior year
reserves and designations, and property taxes. Any decrease in
fund balance from the budgeted amount will require
expenditure reductions or the identification of additional
financing. The recommended fund balance of $1,288.5 million
is comprised of the following:
■ $120.7 million from General Fund operations;
■ $655.0 million of unused FY 2010-11 Capital Projects funds
being carried over to FY 2011-12 for the completion of various
projects and refurbishment needs;
■ $102.8 million of unused FY 2010-11 Extraordinary
Maintenance funds being carried over to FY 2011-12 for major
repairs and maintenance of County facilities and assets;
FY 2011-12 Recommended Budget Volume One 24.1 County of Los Angeles