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In total, net recommended adjustments to General Fund revenue projections for the current FY05
<br />total an increase of $1,317,000.
<br />
<br />The revenue adjustments are summarized in the table below:
<br />
<br /> General Fund Revenue Projections 2004-05
<br /> Adjusted
<br /> 1VIY05 FY05
<br /> Adjustment Projection
<br />
<br /> Property and Documentary Transfer Taxes 746,000 36,165,000
<br /> ERAF III (State shift of property taxes) (281,000) (1,881,000)
<br /> Property tax in Lieu of VLF (see below) 3,580,000 3,580,000
<br /> Vehicle License Fees (VLF) (see above) (3,100,000) 700,000
<br /> Sales Tax 50,000 18,700,000
<br /> Hotel/Motel Tax 43,000 2,750,000
<br /> Other Taxes (Business License, Off Track, etc.) 270,000 3,510,000
<br /> Development Services Fees 235,000 3,829,000
<br /> Recreation Fees 15,000 3,082,000
<br /> Interfund Reimbursements and Overhead 17,000 2,586,000
<br /> Franchise Fees 15,000 1,459,000
<br /> Current Service Fees 39,000 944,000
<br /> Miscellaneous Reimbursements 10,000 837,000
<br /> Intergovernmental (grants/state subventions) (120,000) 741,000
<br /> Fines & Forfeitures (3,000) 525,000
<br /> Interest Income (148,000) 402,000
<br /> Other (51,000) 291,000
<br /> Total $1,317,000 $78,220,000
<br />
<br />Expenditures
<br />
<br />Midyear expenditure adjustments for FY05 include:
<br />
<br /> · Personnel Costs
<br /> o Salary (and related benefit costs) savings due primarily to vacancies and
<br /> reorganizations are estimated to be about $536,000 in the current fiscal year.
<br /> o Overtime estimates are being reduced by about $53,000.
<br />
<br /> · Non-personnel Costs
<br /> o $500,000 carried over in contingency from last year (FY04) is being used to offset
<br /> State Budget impacts in FY05.
<br /> o Staff has reduced budgets based on year to date expenditures for utility costs (water,
<br /> garbage, gas and electricity)
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<br /> SR 05:166 Page 4
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