COM 0162.000 2022-2024 - Laserfiche WebLink

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the County and State recovered from the impacts of COVID-19,including increased tourism activity. The County also recognized$17.5 million in revenue from the County transient accommodations tax,under Act 1, 1St Special Session 2021,which became law on July 8,2021. The counties were authorized to establish and administer their own transient accommodations tax (TAT) at a maximum rate of 3 percent. On December 10,2021,Mayor Mitchell D. Roth signed into law Ordinance 21-89 which imposed a 3 percent HCTAT,which shall take effect on January 1,2022. Monies collected were to be deposited into the general fund as unrestricted revenues. Overall expenses from governmental activities decreased by $100.5 million(15%) from the previous year,which was a result of the County experiencing a$41.3 million decrease in expenses related to net pension liability due to the large positive return on investments experienced by the State's retirement plan. In the prior fiscal year,the County incurred approximately $77.1 million of expenditures while responding to the additional needs caused by the COVID-19 pandemic. $77.0 million was funded by the Coronavirus Aid,Relief, and Economic Security Act(CARES Act),which the County received from the State's allocation of federal funds and was in addition to the many other various federal grants received by the County. The charts below illustrate the County's governmental expenses and revenues by function, and its revenues by source. As shown,public safety is the largest function in expense (43 percent), followed by general government(15 percent)and highways and streets(12 percent). General revenues such as property and other taxes are not shown by program,but are effectively used to support program activities countywide. For governmental activities overall,without regard to programs,property taxes are the largest single source of funds(54 percent), followed by other taxes (17 percent) and operating grants and contributions(15 percent). Expenses and Program Revenues—Governmental Activities Year Ended June 30,2022 $300,000,000 $250,000,000 ■Expenses ■Program revenues $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 tC�t`�" aketia titee�y oetc Jp\\c5 aca5 �a� recce Sam\ �et� z L to �e -22 -