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County staff outline modest revenue growth, fund-balance use and OPEB/LOSAP liabilities during budget work session
Summary
Finance staff presented updated revenue estimates that show modest growth and discussed fund-balance allocations, a $6.9 million shortfall in the draft budget, Losap/OPEB actuarial valuations and the state-mandated pension shift affecting school maintenance-of-effort.
County finance staff told commissioners the FY 2015 revenue picture showed modest growth compared with FY 2014. The updated packet presented to the Board reflected new inputs through the most recent work sessions and included an overall net revenue estimate of about $214.2 million, representing roughly a 2.4% increase over FY 2014.
Staff outlined the components driving the change, including higher recordation-tax receipts and lower energy tax and investment-income estimates. Finance said revenue forecasting used year-to-date data, FY 2012 and FY 2013 actuals and state-provided assessable-base and constant-yield data. Staff cautioned the…
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