Budget Overview Workshop

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Budget Overview Workshop

• January 29, 2009

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Total Budget FY 09 1,095,718,332
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Total Budget FY 09 1,095,718,332
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FY 09 Operating Property Taxes208.3 Million

• General- Countywide 141.6 m
• Libraries 16.9 m
• Law Enforcement MSTU 14.8 m
• Fire Control MSTU 10.8 m
• Parks Recreation 8.7 m
• Mosquito Control 7.0 m
• Road Bridge 4.7 m
• Parks Recreation (14) 3.8 m

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FY 09 Background General Revenue 220 million
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FY 09 Background General Revenue Allocation
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FY 09 BackgroundGeneral Revenue Allocation
220,050,419
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FY08 FY 09 Background

• Since FY 07, Operating Tax Revenue has been
  reduced by 23,323,821
• In the same time period, Brevard Countys total
  budget has decreased 64.6 million
• FY 09 adopted budget compared to FY 07 adopted
  budget

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• FISCAL YEAR 2008 -2009

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Current Budgetary and Financial Condition

• The current economic downturn is bringing lower
  revenues in areas such as State Shared funding to
  local governments, sales taxes, and fees like
  ones for new construction
• The economy is projected to continue to weaken
  through 2010 with some recovery possible in 2011
• The State has modified all its revenue
  projections several times since the beginning of
  the Countys Fiscal Year

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Current Budgetary and Financial Condition

• Three of the Countys major revenues are
  currently trending below what was originally
  budgeted
• Franchise Fee (FPL) (338,595)
• State Shared Revenue (437,855)
• State Library Aid (76,460)

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Managing the Current Fiscal Year Budget

• Beginning in November 2008 all requests to fill
  vacant positions must be approved by County
  Management
• Travel requests must be approved by County
  Management
• Capital Outlay requests must be approved by
  County Management
• The Countys Financial System does not allow
  Agencies to exceed budget

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• FISCAL YEAR 2009 -2010

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Preliminary Forecast for Fiscal Year 2009 2010

• The Housing Market will continue to be depressed
• No signs of recovery projected until the end of
  calendar year 2010
• The State will continue to revise its revenue
  forecasts for the current fiscal year and
  significant reductions are expected for next
  fiscal year

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Assumptions for Fiscal Year 2009 2010

• Taxable Property Values will remain flat or
  decrease
• There will be no New Construction valuation added
  to the Property Tax Roll
• The Board will continue to set the aggregate
  operating millage below the rolled back rate
• Development related revenues will continue to
  decrease

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Revenue Reductions FY 2009 2010

• Property Taxes (14.6 Million)
• State Shared (824,000)
• Sales Tax (1.99 Million)
• Development Fees (170,000)
• (17,584,000)

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POTENTIAL EXPENDITURE INCREASES?

• Fire Union Step Raises
  728,000
• Sheriff Union Step Raises
  650,000
• Fla. Retirement System (10) 1,400,000
• Health Insurance Increase (6) 3,000,000
• State Mandates (10) 1,500,000
  7,278,000

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ANTICIPATED BUDGET CHALLENGES FY 2009-2010

• REVENUE REDUCTIONS (17,584,000)
• EXPENDITURE INCREASES (7,278,000)
• ___________
• TOTAL IMPACT (24,862,000)

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BUDGET STRATEGIES FOR FY 2009-2010

• Developing a reduction strategy based on a
  prioritization of programs and services
• Strategic Planning Workshop to develop
  Organization Prioritization of Programs,
  Services, and Service Levels
• Health Insurance Workshop to establish a long
  term program sustainability strategy

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Milestones in the Budget Process
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Milestones in the Budget Process
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Additional Considerations for the Current Next
Fiscal Year?

• A more restrictive freeze on vacant positions
• Layoffs
• Further reductions and suspension of Capital
  Outlay/Replacement
• Further reductions and suspension of Capital
  Improvement Projects

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