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Honorable Members of the Hawai`i County Council <br /> February 28, 2013 <br /> Page 5 <br /> REVENUE CHANGES <br /> The major changes in projected revenues are as follows: <br /> Real Property Tax. Real property tax revenues are expected to increase by 1.2%, or $2.4 <br /> million, due to an estimated 1.0% rise in taxable values and a slight increase in interest <br /> payments. <br /> Public Utilities Franchise Tax. Increased public utility revenues are expected to result in an <br /> increase of$1.0 million, or 9.5% in franchise tax revenue. <br /> Licenses and Permits. Increases in building permit revenue ($400,000), liquor license fees <br /> ($350,000) and vehicle weight tax revenue ($200,000) have contributed to an increase of $1.1 <br /> million, or 7.0% in this revenue source. <br /> Fund Balance Carryover. The higher projection of carryover savings is attributed to the <br /> cumulative effect of successful cost cutting measures for the past several years and additional <br /> spending restrictions in the current year. <br /> EXPENDITURES BY FUNCTION <br /> The following table presents a summary of projected FY 2013-14 expenditures from various <br /> sources and the changes from the current budget: <br /> EXPENDITURES BY FUNCTION <br /> (Amounts in thousands) <br /> Increase <br /> (Decrease) <br /> Percent From Percent <br /> FY13-14 of FY12-13 Increase <br /> Function Amount Total Amount (Decrease) <br /> General Government $42,888 11.6% $1,557 3.8% <br /> Public Safety 113,870 30.7% 1,127 1.0% <br /> Highways& Streets 22,447 6.1% 336 1.5% <br /> Health,Education and Welfare 25,307 6.8% (157) -0.6% <br /> Culture and Recreation 17,581 4.7% 233 1.3% <br /> Sanitation and Waste Removal 32,815 8.8% (981) -2.9% <br /> Debt Service 39,192 10.6% 3,942 11.2% <br /> Pension& Retirement 33,583 9.1% 1,431 4.5% <br /> Health Fund 29,395 7.9% (323) -1.1% <br /> Miscellaneous 13,700 3.7% (1,510) -9.9% <br /> $370,778 100.0% $5,655 1.5% <br />