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HomeMy WebLinkAboutAgenda 04-28-20 Attachment A - FY2020-21 Budget Projections Pre-COVID vs. Post-COVID PowerPoint PresentationFY2020-21 BUDGET PROJECTIONS PRE-COVID VS POST-COVID BOCC/Board of Education Virtual Joint Meeting April 28, 2020 Agenda Item #1 Attachment A PRE-C0VID VS POST-COVID BUDGET PROJECTIONS Pre-Covid Projections Post-Covid Projections $ Difference PROPERTY & PERSONAL PROPERTY TAX Tax Rate Increase 1.63 0 (3,123,224)$ Collection Rate Adjustment - Property Tax (Real/Personal)99.2%98.7%(781,147)$ Collection Rate Adjustment - Motor Vehicles 99.9%99.4%(142,485)$ SALES TAX *Sales Tax Growth +5% -4.5% -9% (2,814,151)$ TOTAL (6,861,007)$ *Sales Tax projections includes Articles 39, 40 and 42 Agenda Item #1 Attachment A PRE-C0VID VS POST-COVID BUDGET PROJECTIONS REVENUE FY19-20 Adopted Budget Pre-Covid Projections Post-Covid Projections $ Difference % Difference Real/Personal Property 152,142,471$ 157,890,346$ 154,198,531$ (3,691,815)$ -2.34% Motor Vehicles 10,770,627$ 11,530,157$ 11,175,116$ (355,041)$ -3.08% *Other 2,240,833$ 2,323,992$ 2,323,992$ -$ 0.00% Sales Tax 25,372,861$ 26,641,504$ 23,827,353$ (2,814,151)$ -10.56% Licenses and Permits 313,260$ 289,000$ 274,550$ (14,450)$ -5.00% Investment Earnings 415,000$ 1,158,576$ 515,000$ (643,576)$ -55.55% **Miscellaneous 3,040,769$ 2,892,817$ 2,642,817$ (250,000)$ -8.64% Charges for Services 12,704,833$ 13,275,581$ 12,724,996$ (550,585)$ -4.15% Intergovernmental 18,278,612$ 17,977,289$ 17,977,289$ -$ 0.00% TOTAL 225,279,266$ 233,979,262$ 225,659,644$ (8,319,618)$ -3.56% * Other = Delinquent Taxes, Interest on Delinquent, Beer & Wine Excise Taxes, Animal Taxes etc. **Miscellaneous = Hold Harmless Article 44, Donations, Rent Income, Sale of Surplus Assets etc. Agenda Item #1 Attachment A PRE-C0VID VS POST-COVID BUDGET PROJECTIONS QUESTIONS? Agenda Item #1 Attachment A