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c. The budget is balanced by the use of $15,800,000 from the General Fund's <br /> undesignated fund balance as a revenue source. This is an increase of $6,384,470, or <br /> 67.8%, from the curcent fiscal year's appropriati~,n of fund balance. <br /> <br /> 2. EXPENSES <br /> a. General Fund expenses (including inter-fund transfers of $8,680,547 to the sewer, <br /> solid waste and golf course funds) for FY 1997-1998 total $149,663,040 which <br /> represents an increase of $7,988,627, or 5.6%, from the current year. The majority of <br /> this increase ($5,727,500) is a result of required contribution increases to the State <br /> Employee Retirement System. Other major increases include a $1,360,332, or 8.7%, <br /> increase in debt service requirements and a $1,285,109, or 4.8%, increase for the Police <br /> Department. <br /> B. UPDATED ESTIMATES <br /> The Mayor's first budget draft was prepared based in part on estimates. Updated <br /> information, such as the certified real property tax assessments for FY 1997-1998 and the <br /> Council on Revenues'curcent projections relating to the TAT, has been obtained. Such <br /> updated information should enable the Administration to adjust the proposed operating <br /> budget in conformance therewith. <br /> C. CONTINGENCIES <br /> 1. The Mayor's first budget draft seemingly fails to factor in several contigencies or <br /> uncertainties which may have a significant impact on the viability of that document. <br /> a. The Council on Revenues has released TAT estimates as of March 1997. The <br /> new TAT estimate should be considered in conjunction with the Legislature's attempts <br /> to revise the TAT allocation formula. The Legislature may provide for a materially " <br /> lower allocation to the County than that predicted by the Council on Revenues. <br /> b. The effects of possible employee wage and salary increases, as well as related <br /> benefits, should be taken into consideration. Firefighters have already settled for the <br /> July 1997 -June 1999 contract period. Other unions (HGEA, UPW, SHOPO) will <br /> soon be entering negotiations for the same contract period. Moreover, the UPW has <br /> not yet negotiated for the July 1995 -June 1997 contract period. Finally, several <br /> Administration salary increase initiatives are anticipated (executive appointments and <br /> deputy attorneys). Althoughl\a provision for compensation adjustment totalling <br /> $1,377,900 was included in the proposed FY 1997-1998 budget, it does not appear <br /> that such//amount will be sufficient to cover the expected increases attributable to <br /> Win..-c_~fi~- cTl., ~X..11«~, CiL~,c'4e..-.C~a-~-~~ , <br /> <br />