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Minutes - 20041115
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Minutes - 20041115
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Last modified
8/14/2008 3:04:27 PM
Creation date
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BOCC
Date
11/15/2004
Document Type
Minutes
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Agenda - 11-15-2004- item 1
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Agenda - 11-15-2004-a
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Agenda - 11-15-2004-b1
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 11-15-2004
Agenda - 11-15-2004-b2
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Agenda - 11-15-2004-e1
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Agenda - 11-15-2004-e2
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Agenda - 11-15-2004-f
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The impact of classroom size reductions in grades K through 3 {recently approved by the <br />State) are not included in the $613,600 amount above <br />Investment Income ~'~ <br />Fees, Licenses and Permits <br />Use of Non-Recurring Funding <br />^ Due to state and federal funding cuts and implementation of unfunded mandates, local <br />governments have had to become "creative" in funding services <br />^ Examples of non-recurring sources <br />^ Borrowing from unspent capital projects <br />^ Freezing and delaying hiring <br />^ Using fund balance <br />Expenditure ReductionslSavings To-Date <br />^ With adoption of 2004-05 County budget, Board directed staff to identify $400,000 in <br />expenditure reductions to off-set additional decrease of .4 cent in the recommended tax rate <br />. Savings realized to date <br />. Lower than anticipated health insurance renewal rates - in the neighborhood of <br />$300,000 <br />. Lower than anticipated debt service -around $85,000 <br />. Hiring delays of vacant positions -between $350,000 and $400,000 <br />Fund Balance <br />^ Largest influx of cash to local governments comes between November and January of each <br />year when the majority of property taxes are paid <br />^ Fund balance serves as "cash safety net" and enables entities to: <br />. "Pay the bills" during slower revenue collection periods and <br />. Meet unforeseen needs should they arise <br />Fund Balance Facts <br />^ Local Government Commission {LGC} strongly recommends that agencies maintain at least <br />8°~ of prior year expenditures in available fund balance to meet current obligations and <br />prevent unit from experiencing cash flow difficulties <br />^ County's current fund balance level is 9.59% of actual expenditures {$129.2 million) <br />. About $12.5 million <br />Available Fund Balance <br />County Trend Gompared to Statewide Average (9) <br />Short Term Funding Initiatives Affecting Sustainability <br />2004-05 Budget by Component <br />Original Budget Totaled $136.4 Million <br />Short Term School Funding Initiatives <br />^ Twentieth day student membership this fiscal year totals 17,762 <br />^ CHCCS - 10,721 students <br />^ OCS - 6,670 students <br />^ Budgeted Charters for both districts - 371 <br />^ Average annual increase in non-charter membership for current and previous fiscal year is <br />355 students <br />
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