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2/2/98 <br />Orange County <br />Financial Status and <br />1998 -99 Budget Projections <br />1) County Financial Condition <br />• very strong financial position as of audit for fiscal year ending 6/30/97 <br />• cash & investments at $12.9 million - increased by $2.2 million from 6/30/96 <br />• General Fund undesignated fund balance was $9.3 million at 6/30/97, an increase <br />of $1.7m from 6/30/96 <br />• fund balance was 11.8% of 1997 Expenditures <br />• County bond ratings are AA+ (Standard & Poor's) and Aa1 (Moody's) <br />2) Assumptions for Major Revenues <br />• Tax Base grows at 3.5% <br />• Sales Tax grows at 6% <br />• Intergovernmental Revenues remain fairly constant — approximately 1% growth <br />(due to Welfare Reform and anticipation of Department of Social Services Block <br />Grants) <br />• Fees for Services and Licenses and Permits grow at 3% <br />3) Assumptions for Expenditures <br />• County operational expenditures will be similar to the past three years <br />• New position requests <br />• Schools will have increased student enrollments <br />• Annual increases for Education have averaged 10% over the last 10 years <br />• County employee compensation package will be similar to past few years <br />4) Operational Issues for 1998 -99 <br />• New facilities coming on line <br />• Jail (open for 4 months in 1997 -98) <br />• Southern Human Services Center (open for 3 months in 1997 -98) <br />• Skills Development Center (anticipated opening 2nd quarter of 1998 -99) <br />• Information Technology <br />• Landfill/Solid Waste <br />• Welfare Reform <br />• Debt Service <br />5) Projected Tax Rate for 1998 -99 <br />• Projections indicate possible increase of 3 to ,5 cents <br />