Agenda - 02-22-2011 - 1 - Laserfiche WebLink

Browse Search

2 Delinquent notices have been mailed and public advertisements of • delinquencies are scheduled for print in newspapers this month. Garnishment of wages will begin soon. ii) Motor Vehicle Property Taxes -Motor vehicle property tax collections to- date are slightly below the target for the current fiscal year. As economic conditions have weakened due to the recession, many people are keeping their vehicles longer before buying a new vehicle. Additionally, when a new vehicle is purchased, smaller less expensive cars are being selected. We will continue to closely monitor the valuation and collection of motor vehicle property taxes and any potential impact this may have on the current year and the FY2011-12 budget. We will provide additional information to the Board as it becomes available. iii) Sales Taxes -The County has received four months of sales tax receipts for the current year -July through October 2010. Out of a $14.4 million budget, the County has received $3.4 million, down $2.7~million due to the refunds paid. to non-profit organizations earlier than the previous fiscal year. There are positive signs of the economy recovering. As a result, we do expect to receive slightly higher sales taxes for the fiscal year than budgeted iv) Intergovernmental Revenues -Intergovernmental revenues continue to lag behind the current year's budget due to the timing of reimbursements received from Federal and State funding sources. We expect these revenues to meet budget by the end of the fiscal year if there are not any current year budgetary • impacts at the Federal and State level. v) Charges for Services, Licenses and Permits are in line with current year budget and prior year receipts. b) Expenditures -Overall expenditures are on average below target at this point in the current fiscal year. Throughout the year, the County Manager has communicated a number of budget directives that have impacted FY2010-11 expenditures. The list below outlines current year budget directives and guidance the Manager has issued to date: • Continuing the County's 6-month hiring freeze on vacant positions • Increasing fund balance by 2% of budgeted operating expenditures • Continued delay of non-critical capital expenditures • Eliminating out of state travel and postponing other travel if possible Other counties throughout the State have continued similar and more stringent budget constraints and tightening measures in reaction to the slow economy, recession and potential budget impacts from Federal and State levels.