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January 27, 2014 Maricopa County Office of Management and Budget 1 $492,230,736 $500,000,000 $480,411,951 $460,046,051 $450,000,000 $400,000,000 $429,854,392 $350,000,000 $366,285,238 $300,000,000 $250,000,000 $200,000,000 $143,543,616 $126,618,391 $150,000,000 $113,269,091 $100,000,000 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14* FY 15* Primary Levy Sales Tax VLT *Forecast 2 Variance to 2014 Primary Tax FY 2014 Primary Property Tax $409,775,397 FY 2015 Maximum Property Tax $600,373,172 $190,597,775 (Estimated)* FY 2015 Flat Rate $429,854,392 $20,078,995 Estimated based on Pollack January 2014 Most Likely Primary Net Assessed Value Forecast Final maximum levy will be available after the February 10th Net Assessed Value data released. 3 Adopted Budget Forecasted Change Forecasted Revenues FY 2014 for FY 2015 % FY 2015 Property Tax $ 404,902,095 $ 19,838,047 4.90% $ 424,740,142 Payments in Lieu of 11,972,067 (2,367,961) (19.78%) 9,604,106 Taxes State Shared Sales Tax 437,402,846 22,643,205 5.18% 460,046,051 State Shared Vehicle 119,748,223 6,870,168 5.74% 126,618,391 License Tax Other Revenue 82,317,910 2,976,081 3.62% 85,293,991 Total Revenue $ 1,056,343,141 $ 49,959,540 4.73% $ 1,106,302,681 4 Adopted Budget Forecasted Change Forecasted Expenditures FY 2014 for FY 2015 % FY 2015 Personnel $ 470,571,896 $ 15,071,890 3.20% $ 485,643,786 Mandated State Payments 224,282,460 1,670,054 0.74% 225,952,514 Maintenance of Effort 173,940,798 2,860,490 1.64% 176,801,288 Supplies/Services/ 187,547,987 187,547,987 - 0.00% Capital/Other Uses Melendres - 10,005,731 (100%) 10,005,731 Other Required - 88,525 (100%) 88,525 Adjustments Total Expenditures $ 1,056,343,141 $ 29,696,690 2.81% $ 1,086,039,831 5 FY 2014 Adopted Forecasted Change Budget for FY 2015 FY 2015 Forecast Operating Revenue $ 1,056,343,141 $ 49,959,540 $ 1,106,302,681 Operating 1,056,343,141 29,696,690 1,086,039,831 Expenditures Balance - $ 20,262,850 $ 20,262,850 6 Forecasted FY 2014 Change FY 2015 Adopted Budget for FY 2015 % Forecast Jail Excise Tax $ 131,106,321 $ 7,634,315 5.82% $ 138,740,636 Maintenance of Effort 173,940,798 2,860,490 1.64% 176,801,288 Intergovernmental Revenue and 29,718,952 1,068,520 0.00% 30,787,472 Other Sources Total Revenue $ 334,766,071 $ 11,563,325 3.45% $ 346,329,396 Personnel $ 250,839,570 $ 5,429,289 2.16% $ 256,268,859 Supplies/Services/ 91,573,339 - 0.00% 91,573,339 Capital/Other Uses Other Adjustments - 5,106,000 (100%) 5,106,000 Total Expenditures $ 342,412,909 $ 10,535,289 3.08% $ 352,948,198 Net (7,646,838) 1,028,036 (6,618,802) 7 Property Tax ◦Base budget to assume a flat tax rate for FY 2015. Major Revenues ◦Major revenues should be based on the Most Likely forecast. Budget Requests ◦Budget requests submitted at budget thresholds. Employee Compensation ◦Funding for performance-based increases and critical recruitment/market issues at 2.5% on average. Additional Funding ◦No requests for additional funding unless approved by the Board of Supervisors for consideration. 8 Contingency, Reserves, Fund Balances ◦Develop plan and begin to incrementally restore operating contingency. ◦Develop plan and begin to incrementally build adequate reserves. ◦Fund balances used to build reserves or non-recurring expenditures. Capital Improvement Program ◦No funding for new capital improvement projects until reserve decisions made by Board. Facilities Capital Improvement Board to prioritize needs with available fund Information Technology Continue major maintenance funding Board to prioritize additional needs with available fund Transportation Develop CIP plan within available non-recurring HURF funds 9 Date 12/4/2013 Elected Official and Judicial Branch Budget Presentations to the Board of Supervisors. 12/19/2013 Elected Official and Judicial Branch Budget Presentations to the Board of Supervisors. 1/27/2014 Board of Supervisors approves Budgeting for Results Guidelines and Priorities. 2/10/2014 Assessed Values and Levy Limits Reported by Assessor. 5/19/2014 FY 2015 Recommended Budget Presentation. 5/19/2014 Tentative Adoption of FY 2015 Budget. June Publication of Tentative Budget and Truth in Taxation Notice. 6/23/2014 Hearing on FY 2015 Budget. 6/23/2014 Final Adoption of FY 2015 Budget. 8/18/2014 Adoption of the FY 2015 Property Tax Levy. 10 Office of Management and Budget 11