Transcript Fiscal Year 2012 Budget

Bedford County Budget Work
Session
February 4, 2013
Schedule Reminder/Game plan
February 4th: Revenues
February 25th: General Fund
March 4th: Schools
March 11th: Enterprise Funds
March 18th: CIP/Miscellaneous
March 21st: Authorization of Ads
April 8th: Budget Public Hearing
April 15th: Budget Adoption
Revenues
Budgeted Local Revenues
80,000,000
Recovered Costs
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
FY
08
FY
09
FY
10
FY
11
FY
FY
12
14
Pr FY1
op 3
os
ed
0
Miscellaneous
Charges for
Services
Use of Money &
Property
Fines & Forfeitures
Permits, Fees &
Licenses
Other Local Taxes
General Property
Taxes
Local Revenues
Category
FY13 Budget
FY14 Projection
General
$52,078,917
$56,989,000
Property Taxes
Other Local
10,028,901
10,727,432
Permits, Fees
434,100
425,800
Fines &
141,000
151,000
Forfeitures
Use of Money
255,041
246,041
Charges for Svc
1,742,607
1,748,304
Misc
285,633
251,190
Recvered Costs
1,790,288
430,000
Total
$66,756,487
$70,968,767
Commonwealth Revenues
Category
Personal
Property Tax
Relief
NonCategorical
Shared
Expenses
Categorical Aid
Total
FY13
Budget
$6,086,051
FY14
Projection
$6,086,051
160,000
470,000
3,594,444
3,674,339
4,702,236
$14,542,731
4,169,145
$14,399,535
Federal Revenues
Category
Payments in
Lieu of Taxes
ARRA
Categorical Aid
Total
FY13
Budget
$40,000
0
2,481,127
$2,521,127
FY14
Projection
$40,000
0
2,653,470
$2,693,470
Grand Total Revenues
FY13
Budget
Grand Total
Revenue
Projections
$83,820,345
Increase $4,241,427
FY14
Projection
$88,061,772
Total Budgeted
Revenues
72,000,000
70,000,000
68,000,000
66,000,000
64,000,000
62,000,000
FY14
Proposed
FY13
FY12
FY11
FY10
FY09
FY08
Before We Get Too Excited…
Of the $4,421,427 in additional revenue, approximately
$4,000,000 is related to town property taxes
Remember that last year the County utilized $5,000,000
from Fund Balance to fund schools and CIP
The City historically provided local funding for schools
approximating $2.5 million
Health Insurance Increases are currently projected at
14% or approximately $500,000
State proposed 3% Raises: each 1% approximates
$185,000 to the General Fund: $555,000.
Next Steps
February 25th: General Fund
– Assumes no new programs
– Assumes no fund balance xfer
– Assumes no new taxes
March 4th : Budget Work Session
March 21st: Authorize Advertisements
April 8th: Public Hearing
April 15th: Budget Adoption