Biennial Budget 2 0 0 9 - 2 0 1 0 - Cobb County Government

Fine Print
Chairman’s Budget Message
Public Safety records management system. Additional capital projects include PC and
printer replacements, GIS, Library automation, and light pole replacements for Parks.
Expenditure increases are only possible with revenue growth. Total revenue growth
for FY 09 is projected to be 3.52%. An average 3.75% net digest growth is budgeted
in the General Fund which comprises a majority of the projected revenue growth.
Approximately one-third of residential properties are revalued each year; however, the
General Fund does not realize any related revenue growth due to the county’s
Floating Homestead Exemption law. The intent of this legislation is to eliminate
property tax increases, due to residential property reassessment, by increasing the
homestead exemption amount equal to the property reassessment amount. Prior to the
Homestead Exemption law, growth in the digest was attributed mainly to residential
property revaluations. The law does not affect taxes for schools, bond indebtedness,
and fire protection. This law applies only to the General Fund portion of each tax bill.
Other Governmental Fund Types:
FY 08
Adopted
FY 09
Adopted
%
Increase/
(Decrease)
FY 10
Proposed
%
Increase
Claims $69,935,031 $78,930,148 12.86% $83,165,732 5.37%
CSBG $527,077 $394,420 -25.17% $394,420 0.00%
Debt Service $8,832,316 $12,229,807 38.47% $12,563,087 2.73%
E911 $10,069,738 $9,751,872 -3.16% $9,920,166 1.73%
Fire $70,061,783 $72,353,330 3.27% $75,873,911 4.87%
Hotel/Motel Tax $10,712,988 $10,975,000 2.45% $10,975,000 0.00%
Law Library $635,532 $630,900 -0.73% $630,900 0.00%
Parking Deck $470,644 $460,055 -2.25% $460,055 0.00%
Senior Services $6,013,444 $6,350,181 5.60% $6,561,642 3.33%
Claims Funds. The Claims Funds include Casualty/Liability, Medical, Dental and
Workers' Compensation. Each is funded by payments received from operating funds.
The FY 09 budget for the Claims Fund increased 12.86% compared to FY 08. The
majority of this increase is attributed to the county's compliance with the
Governmental Accounting Standards Board (GASB) 45 requirement.
In June 2004, the GASB issued a new accounting standard for what it calls "Other
Post-Employment Benefits" (OPEB). This standard, GASB Statement 45, covers such
benefits as retiree medical and dental. This standard was effective for Cobb County
in FY 08 and requires the setting aside of funding for future retiree medical benefits.
FY 09/10 BIENNIAL BUDGET
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