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FC-170 Page 3 May 1, 2014
<br /> • Solid Waste Fund. The appropriation for landfill tonnage costs has increased by about
<br /> $1.7 million because of increased operations costs.
<br /> Debt Services
<br /> • Transfer to Debt Service. As the result of refinancing old bond issues, there is a
<br /> reduction of debt service cost of$1.5 million for the upcoming year.
<br /> Pension & Retirement
<br /> • Retirement Benefits. Contributions to the employee retirement system will increase by
<br /> approximately $4.3 million, or 12.2%, as the result of new salary and wage costs and rate
<br /> increases established by the state legislature.
<br /> Health Fund
<br /> • Health Benefits. Contributions to the state employee health system will increase by
<br /> $1.9 million, which includes an increase of$1 million for future post-employment health
<br /> benefits.
<br /> Miscellaneous
<br /> • Provision for Compensation Adjustment. This provision contains the estimated cost of
<br /> salary and wages pursuant to contract negotiations that have not been fully approved, and
<br /> increased by about $2 million. The $5.8 million appropriation is related to pending
<br /> increases for Unit 11 Fire employees.
<br /> A summary of estimated FY 2014-15 revenues and expenditures are shown below:
<br /> REVENUES
<br /> FY 2013-14 FY 2014-15 FY 15-FY 14 $ FY 15-FY 14
<br /> Account Description Budget Estimate Variance % Variance _
<br /> General Fund Revenues
<br /> Taxes
<br /> Real Property Taxes 219,400,000 232,400,000 13,000,000 5.93
<br /> Public Svc Co Tax 10,145,000 10,340,000 195,000 1.92
<br /> TTL Taxes 229,545,000 242,740,000 13,195,000 5.75
<br /> Licenses&Permits
<br /> Bus. Lic & Permits 4,272,668 4,712,505 439,837 10.29
<br /> Non-Bus. Lic& Permits 3,355,500 3,673,300 317,800 9.47
<br /> TTL Lics & Permits 7,628,168 8,385,805 757,637 9.93
<br /> Intergovernmental Rev.
<br /> Federal Grants 3,044,785 3,1 13,269 68,484 2.25
<br /> Federal Grants 814,050 715,050 (99,000) (12.16)
<br /> Federal Grants 382,500 641,067 258,567 67.60
<br /> State Grants 34,843,325 34,931,433 88,108 0.25
<br /> State Grants 3,256,773 1,584,972 (1,671,801) (51.33)
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