Travis County Commissioners Court
Tuesday, May 25, 2010,
Item 29
>> a reminder of the work session this thursday at 1:30. Let's call back to order the voting session of the travis county commissioners court. And just a couple more items before we go into executive session. Let's take 29. Receive and discuss as necessary the first revenue estimate for the fiscal year 2011 budget process. We'll take up 31 next. Mr. Keith, how are you doing?
>> i'm fine, sir, thank you. Blaine keith from the auditor's office. We have for you today the first revenue estimate for the 2011 budget process and i must admit that -- we figured the $649 in there
>> [laughter] so you -- please adjust everything by $649. We're that exact.
>> [laughter] no, of course, the first estimate is general fund only, it's very broad-brush. Just to give you and planning and budget a -- a pretty general idea of where we think we're going to be this year. Just as a reminder, we do get a run from tax, that's our first run, but our other revenues are based on what we are forecasting for this year. We carry them over, make some amendments as we can identify them and use that number. We really have not gotten deeply into the -- into the submissions for next year. The format is the same that we have used for many years. On one side we show you how we calculate that beginning balance. It's obviously -- that's a step we do in every fund, every revenue estimate. This is just the one time we show it on -- show it to you. What we're looking at is a beginning balance of about 78.1 million. We're anticipating about 410 million in revenues this year, p.b.o. Is estimating about 416 million in expenditures. And that gives us about 78 million to start next year. On a budget to budget basis, that's an increase of about $16.1 million. Part of that is because we just started this year with more than we planned. We were conservative forecasting revenue and p.b.o. Sort of took the same route on expenditures, so we ended up with more than we thought going into this year. Plus we're just -- thanks to tax revenue, we're bringing in more than we budgeted. The tax revenue that we got in our first run for next year is 336.6 million. That's based on an m and o tax rate of 38.88 cents, which p.b.o. Asked us to use. And that's about 3.61 cents more than the current rate. As susan pointed out in her cover memo, she is still being conservative in estimating our tax receipts for next year. Just because we are still not sure what the economy is going to do. So this is -- this is an -- a conservative number for taxes. That's what we're working with right now. Again, the other revenues are based on what we're -- at this point forecasting for 2010. And you will notice there -- they are a little bit less than we're forecasting. That's quite common. Because there are a number of things that -- that happen this year and we don't know yet if they're going to happen next year. We listed some of them in the cover memo. So we're conservative. We're not allowing a million dollars for staff revenue, we're not looking for the elections revenue. And we're -- we're not expecting for the interest revenue to even do what it's doing this year. If you asked me last year if i thought that i would be saying that this year, i would have said no way, interest revenue can't get even lower. I was wrong. It can. We're almost to the point that we're paying people, you know, to let them use our money. So it's -- we've dropped that at this point for next year. So you have about 68.4 million in other revenues for a total of 483.2 million. That's about a $26.4 million increase from the current budget. Not what we're forecasting, but the current budget, budget to budget, about a 5.8% increase, 26 million. And about 60% of that 26 million is that beginning balance. That's -- that's where you are getting a big bump. That's where we are right now. Obviously starting next month we will -- we will start giving you the more traditional estimates where you see all of the funds. And they will work pretty much the same way. But right now, we think that you're going to have a little over $483 million in the general fund to -- to appropriate. And we would be glad to answer any questions you have at this point on the process or where we are.
>> can you recall what figure we used for new residential and commercial projects?
>> in the 336 million for next year?
>> right.
>> 1.684 billion is new property.
>> any other questions or comments?
>> when will the next estimate be made available?
>> i think we release that on the 21st of june.
>> 21st of june?
>> we close books on the 7th working day and then we obviously have to kind of crunch all of the numbers, i believe the second one is on the 21st of june.
>> 21st, thank you.
>> that's when it goes to the judge's office, but thereabouts.
>> is that new construction figure in this memo?
>> i don't think it's -- no, sir, i'm sorry, i don't think it's actually in the memo, i apologize.
>> i thought that i looked over it, maybe. What is it again --
>> 1.684 billion.
>> 684 billion.
>> i have to have something to surprise you with when you ask a question and i can answer it.
>> i understand.
>> that's my one for this year
>> [laughter]
>> well ...
>> do you remember how that relates to last year?
>> no, i don't. Was it over -- it was over 3 last year.
>> i didn't remember the number.
>> considerably less than last year.
>> almost half of last year's?
>> yeah. We were surprised that it was this large. We were gratified that it was this large. But -- but we thought it would be closer to one billion. That's what we have right now.
>> we eagerly anticipate the next revenue estimate.
>> we will be back.
>> thank you, sir.
>> thank you very much, appreciate it.
>> good news.
>> mr. Rhoades, you weren't here on this item, were you?
>> no, sir.
>> [inaudible - no mic]
>> i apologize.
>> if you had comments, we were about to ask you to step up to the table and give them.
>> [inaudible - no mic]
>> now, number 31 is to consider and take appropriate -- nope, 31, i'm sorry. I have been looking at ms. Perryington and mansour all morning. We will get to you next.
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.
Last Modified:
Tuesday, May 25, 2010 2:35 PM
