Travis County Commssioners Court
June 24, 2003
The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.
Items 23
23 is to receive fy twoou audit -- 22 is to receive and discuss the second revenue estimate for the fy 2004 budget process.
>> good afternoon judge and Commissioners. I’m with the auditor's office. We have for you today the second revenue estimate for the fy 2004 budget process. It's the first estimate with all the -- (indiscernible). We did note we don't have numbers yet for health insurance fund. We're missing that one at the moment. This sfiment is based on the effective tax rate as calculated at the moment, and that's 39.62 cents. And it's based on an assessed valuation of about $60.24 billion, which is about a 3.4% decrease from the number we used for the fy 2003 budget process. The general fund in this estimate is about $310.7 million, which is about 4.8-million-dollar more than the current budget and a little more than we estimated in our very broad one. The current property tax in this estimate is about $230.5 million, which is up about 7.4 million from the current budget. We had tried -- we try to hit the high points of each category in the general fund, so we'll be changing on a budget to budget basis. So I won't -- this is something particular we would like to hit. I would note at this point there are no budget request packages in this estimate, pbo and we have not gotten that far along yet, so there's nothing in here other than the operation as you see it, as you see it right now. The other fund category, most of the fund don't change a whole lot from year to year. We did note a couple in the cover memo, bcp and the expo center that based on revenues we think they'll get this year and the expenditures that pbo thinks they'll have, at this point they may not have much in the way of getting balances to start next year. They may spend them off. That could change in later estimates, that's just the numbers we have right now. And we also have the debt service fund for the debt service requirement for next year, and that's 10.58 cents. And that will generate about $62.5 million in current property tax 's. The capital funds, as usual at this time of the yeerk, we're just showing you the current fund balances, which we roll those over at the end of the year. One exception is fund 475, which is our project fund, and we have I think six projects listed there. That's sort of a brief overview. I'll be glad to answer any questions that you have on the revenue estimates at this time. We will have a mar preliminary budget. That's always based on the third estimate.
>> of the $4.77 million extra additional fund that we have over last year, how much of that would be new construction, new escrow money? I though that the whole 310 million is not all total at the lower, but is there -- out of the -- how many dollars are we lekt clekting from new construction?
>> I don't know off the top of my head. I would have to check.
>> [inaudible - no mic].
>> what we're projecting is about 7 million in the higher effective tax rate. So that is a reflection of the softening of the effective rate brings in the current money we take in on current property. So really if you look at the two, that would be a pretty good indicator of what -- [ inaudible ]. Another good thing is that we're getting close to the beginning fund balance that we had this year. We would always like not to decrease our fund balance, to hold what we had. And we're closer than we were last month. (indiscernible). So that continues to move up and then that will be a good thing. Another key fund for y'all to look at it you're looking at these -- like frank said, a lot of them are small, but that is road and bridge. So those are really -- those are your big fund. Everything -- we'll still come a bit short of what we predicted this year, but it doesn't appear to be a significant --
>> in terms of for the next revenue estimate, obviously the governor signed certain bills, some of them might be easier to articulate what a five-dollar increase and something we're already collecting. Are you going to be able to incorporate, or caroline, what changes in state law that we can articulate as opposed to ones that we have no history and therefore it's impossible to certify a certain amount?
>> carolyn, do you have an opinion on that?
>> in going through the bills to see if I can very briefly do that, and really the only significant revenue is going to be the county clerk's.
>> that was the one I was looking at.
>> which is going to effectively double, which brings in about 1.28 million a year. If that additional fee is approved that would be an additional 1.2 million.
>> and this does require approval, so whether they get into the next revenue depend on whether they come to court and the court approves it.
>> so that is required to be brought by the county clerk and it requires your approval.
>> Commissioner, was your question only related to revenue?
>> yes.
>> just revenue. So we weren't talking about expenditures, which -- (indiscernible). [overlapping speakers].
>> questions, comments?
>> thanks for the hard work.
>> (indiscernible).
>> appreciate it. Thank y'all.
Last Modified: Wednesday, June 25, 2003 5:00 PM