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3 <br /> The General Fund Articles 39, 40 and 42 experienced strong growth between fiscal years 2021-2023. As indicated <br /> in the table below, that growth rate has slowed considerably this fiscal year. The strong three year-average <br /> growth was attributed to the pandemic induced increase in electronic commerce/online purchases and the <br /> State's ability to capture those online sales. In addition, the higher inflationary rates during this same period <br /> resulted in the double-digit growth. Articles 39 and 42 are the Articles that correlate and reflect the underlying <br /> economy because they are point of sale. Article 40 is subject to a State-wide allocation which accounts for the <br /> percent growth difference from Articles 39 and 42. <br /> Articles FY 2023-2021 Three FY 2024 Year-To-Date Distribution Methodology <br /> Year Average <br /> Article 39 15.4% 7.2% Point of Sale <br /> Article 40 12.77% .2% State-wide Per Capita <br /> Article 42 15.31% 7% Point of Sale <br /> Articles 39 and 42 growths should offset the Hold Harmless revenue decline. <br /> • Charges for services are 64.1% of the budget as compared to 69%the prior fiscal year. The key revenue <br /> sources responsible for this variance are Emergency Medical Charges and U.S. Marshals Service Bed <br /> Utilization Reimbursements. <br /> - Emergency Medical Charges (Ambulance Billings). Emergency Medical Charges collections are $2.9 <br /> million or 56% of budget as compared to $4 million or 107% the prior fiscal year. The decline reflects <br /> arrearage in back billings. Both EMS and Tax Administration Office staff are making concerted efforts <br /> to become current on the billings. This revenue source will be challenged to maintain the same <br /> collection performance as the prior fiscal year. <br /> - U.S. Marshals Service bed utilization rates are $296,635 or 24.7% of the budget compared to prior <br /> $594,184 or 49.5% in the prior fiscal year. Staff is in communication with Detention Center staff to <br /> ensure all remittances are received and timely recorded to the County general ledger before the <br /> fiscal year ends. <br /> - Excise Stamps (Real Estate Transfers). Excise Stamps are $979,562 or 76.2% of the budget compared <br /> to $1 million or 57.8% of the budget in the prior fiscal year and is on track to meet the budget. Real <br /> estate transfers are recorded monthly and reflect the number of real estate transactions and sales <br /> activity. <br /> • Investment Earnings are $1.5 million through the third quarter compared to the budget of$1.6 million. <br /> This budget will be met by the fiscal year end. The County's investment policy emphasizes safety, <br /> liquidity, and yield, in that priority order. The investment portfolio consists primarily of U.S. Treasuries, <br /> 3 <br />