COM 0143.000 2014-2016 - Laserfiche WebLink

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Honorable Members of the Hawaii County Council February 27, 2015 Page 3 REVENUE CHANGES The major changes in projected revenues are as follows: Real Property Tax. Real property tax revenues, including penalties and interest, are expected to increase by 3.2%, or $7.4 million, due to new construction and an increase in taxable values. Public Utilities Franchise Tax. Increased public utility revenues are expected to result in an increase of $532,000, an increase of 4.8% in franchise tax revenue. Intergovernmental Revenue. Increased grant revenues of $3.1 million reflect those grants we are aware of at this time. Charges for Services. Charges for services are expected to increase $1.2 million and reflect the increase in usage of various County services. Other Revenues. Increased other revenues of $1.3 million includes increases in real property tax sales and program income. Fund Balance Carryover. This budget reflects $3.6 million more in carryover savings from the current year operations for all funds. The following table presents a summary of projected FY 2015-16 expenditures from various sources and the changes from the current budget: Function General Government Public Safety Highways & Streets Health, Education & Welfare Culture & Recreation Sanitation & Waste Removal Debt Service Pension & Retirement Health Fund Miscellaneous EXPENDITURES BY FUNCTION (Amounts in thousands) Percent FY15-16 Of Amount Total Increase (Decrease) From Percent FY14-15 Increase Amount (Decrease) $49,915 11.5% $93 0.2% 132,327 30.4% 10,999 9.1% 26,711 6.1% 1,160 4.5% 26,592 6.1% 1,008 3.9% 21,675 5.0% 616 2.9% 41,219 9.5% 3,660 9.7% 36,736 8.5% (1,894) -4.9% 43,430 10.0% 4,052 10.3% 38,932 9.0% 1,767 4.8% 17,131 3.9% (3,709) -17.8% $434,668 100.0% $17,752 4.3%