5 years ago

OPERATING AND CAPITAL BUDGET - Fayette County Government

OPERATING AND CAPITAL BUDGET - Fayette County Government


SPECIAL REVENUE FUNDS Law Library 107,077 Confiscated Property-State 59,700 Emergency Phone E-911 2,626,386 Jail Construction 480,495 Juvenile Supervision 28,800 Victims Assistance 182,851 Drug Abuse and Treatment 74,002 Grants - Juvenile Offenders Grant Fund - Fire Services 7,555,321 Street Lights 278,000 Emergency Medical Services 3,027,298 S.P.L.O.S.T. - Library 240,000 Transfer to Other Funds Transfer to General Fund 4,000 Transfer to Grants - Transfer to Capital/CIP Projects 1,019,768 FY 2010 Budget FY 2011 Budget % Adopted Revised* Adopted Comparison 107,077 61,944 2,618,091 480,495 28,800 182,851 74,002 403,088 4,666 7,485,523 278,000 3,067,807 1,259,768 18,955 3,635 3,275,000 67,160 72,800 2,599,632 480,495 28,800 137,782 50,070 - - 7,415,650 287,655 3,034,940 - 18,955 - 62.7 117.5 99.3 100.0 100.0 75.4 67.7 99.1 103.5 Total Transfer to Other Funds $ 1,023,768 $ 3,297,590 $ 18,955 0.6 TOTAL SPECIAL REVENUE FUNDS $ 15,683,698 $ 19,349,702 $ 14,193,939 73.4 CAPITAL/CIP FUNDS Capital Projects 16,200 Capital Improvement Program 4,429,875 16,200 4,429,875 - 87,300 TOTAL CAPITAL/CIP FUNDS $ 4,446,075 $ 4,446,075 $ 87,300 2.0 ENTERPRISE FUNDS Solid Waste Fund $ 156,096 $ 156,096 $ 142,544 91.3 Water System Fund 12,316,544 Transfer to Other Funds Transfer to General Fund 706,057 12,278,098 706,057 - 13,171,190 706,057 TOTAL ENTERPRISE FUNDS $ 13,178,697 $ 13,140,251 $ 14,019,791 106.7 INTERNAL SERVICE FUNDS - - 98.9 - 100.0 538.9 107.3 100.0 - - - Vehicle/Equipment Fund $ - $ 244,213 $ - - TOTAL OF ALL BUDGETED FUNDS $ 79,811,083 $ 83,148,601 $ 73,310,035 88.2 * Revised budget amounts - unaudited. FAYETTE COUNTY, GEORGIA BUDGET SUMMARY INFORMATION COMPARISON OF FY 2011 BUDGET TO FY 2010 REVISED BUDGET II - 14

ANALYSIS OF MAJOR REVENUE SOURCES AND TRENDS Strategies Utilized In Budgeting Revenues As an unwritten but general guiding operating policy employed by Finance and Administrative staff, projected revenues for the ensuing fiscal year are estimated on the side of conservatism. The reason for this conservative approach to estimating cash inflows is to help ensure that the County avoids, if at all possible, any significant revenue shortfalls that might occur due to unanticipated fluctuations in the local or national economy, or an unexpected downturn in the rate of construction activity occurring in the immediate area. But should the economy remain strong in the short-term, it is further anticipated that these additional revenues that are generated will be programmed into the County’s fund balance to be used for capital projects or projects in the Capital Improvement Program. As our principal operating revenue projection strategy for any given fiscal year, the County prepares its annual operating budget with the expectation that it will collect more revenues during the period than are actually budgeted. As an integral first step in the FY 2011 revenue projection process, total revenue collections through the end of the 2010 fiscal year are estimated. As actual monthly activity is recorded, original estimated FY 2010 revenue numbers are updated throughout the budget preparation process. These most recent fiscal year estimates plus the actual revenue numbers for the previous two fiscal years are used to identify trends and collection patterns from the various sources. This historical revenue information is then framed in the context of what budget staff believes will be the most probable local economic conditions over the next twelve to twenty-four months. Elasticity of revenue sources increases in user fees or charges, changes in service delivery and the anticipated impact of any new State or Federal legislation are also factored into the projections. The desired end result of this process is revenue estimates that one would reasonably expect to be met during the upcoming fiscal year given the information available at the time. GENERAL FUND The General Fund is the principal operating fund for the County and the revenues it uses to provide a number of services to our citizens are derived from a wide variety of sources. The tabular information shown on the next page indicates the relative composition of the major revenue sources. The accompanying pie chart clearly shows how dependent the County is on taxes as the major revenue source. Property Tax and Sales & Use Tax are the major revenue sources used to pay for the operations of the General Fund. This dependency has also been increasing. These two sources of revenue accounted for 67 percent of total revenues in 2005; 76 percent of total revenues in 2008; and for FY 2011, it is projected that these two sources of revenue will account for approximately 88 percent of General Fund total revenues. No other individual revenue sources are equal to at least five percent of total revenues. In comparison with FY 2010 actual amounts, it is projected that General Fund total revenue for the 2011 fiscal year will decrease by approximately 6.3%. Projections for all revenue sources have been estimated on the side of conservatism. II - 15

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