COM 0140.000 2000-2002 - Laserfiche WebLink

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The Honorable Chairman James Y Arakaki and Members of the County Council Page 2 March 1, 2001 OPERATING REVENUES The following table presents a summary of our projected FY 2001-02 revenues from various sources and the changes from our current budget (amount in thousands) Source Real Property Tax Public Service Company Tax Fuel Tax Public Utilities Franchise Tax Licenses and Permits Revenues and Use of Money & Property Intergovernmental Revenue Charges for Services Other Revenues Fund Balance Carryover Increase (Decrease) From FY 2000-01 Amount % Amount $94,355 488% $9,846 11 7% 4,143 21% 4,143 6,864 35% 968 164% 4,300 22% 100 24% 7,742 40% 746 107% 5,787 30% 0 00% 40,644 210% 4,364 120% 11,915 62% 619 55% 4,590 24% 312 73% 13,182 68% (3,346) -202% $193,522 1000% $17,752 10.1% Real property tax, the County's primary source of revenues, accounts for 48 8% of our budget resources It is projected to increase by $9,846,000 This increase Is due to a projected 7 2% growth in property valuations and the anticipated settlement of delinquent taxes for the County's largest delinquent account. We are not proposing any increases in property tax rates The public service company tax will be collected from public utilities In lieu of real property tax It is expected to bring in $4,143,000 to the County. This new revenue source, however, requires legislative approval. The Increase in intergovernmental revenue Is due to the Increases in police and public housing grants and Transient Accommodation Tax (TAT) collections The County's share of the TAT Is estimated at $16,557,000, a $3,284,000 increase over the current year's budget amount. The fund balance carryover, which measures our anticipated amount of carryover savings, is projected to decrease as we expenence a penod of expending more than we collect Unexpected expenditures, such as for flood cleanup and repairs, have contributed to the Increase In spending.