Revenue declines are adding to “pinch” in county operating budgets By Sid Riley
We hear regularly of the tremendous revenue shortfalls the existing economic recession is having on the federal government and state governments, including Florida. The TIMES decided to investigate just how much this revenue decline has impacted local government entities.
Of course our County Government and County School System both survive primarily from funding provided by property tax revenues, fees, and a myriad of federal and state grants. However, local sales tax revenues are a component of their total revenue picture, and these have declined. The purpose of this examination was to determine how much this decline has been.
County Sales Tax Revenues:
For the purpose of this examination we have compared the revenue received for the months of December through April of 2008, 2009, and the current year 2010.
½ Cent ½ Cent Sales State Fiscally Total
Sales Tax Emergency Dist. Constrained Co.
2008 $748,435 $528,684 $259,593 $1,536,712
2009 $659,860 $395,743 $254,837 $1,310,440
2010 $684,427 $363,634 $252,593 $1,300,654
Total Revenue Decline - $236,058/ yr (- 15%)
This analysis shows that county revenues have fallen some 15%, a $236,000 annual decrease in revenues from the half cent gas tax.
School System Revenues:
The school system receives sales tax revenues from the general 7.5% county sales tax. This analysis shows a decline in last year’s revenues, but a return to the previous level during the current budget year.
LOCAL CAPITAL SALES TAX
Revenue Comparison by Fiscal Year:
2007/2008 2008/2009 2009/2010
DECEMBER $148,595.83 $146,465.38 $143,759.72
JANUARY $156,806.90 $147,384.77 $175,220.07
FEBRUARY $239,550.74 $217,530.22 $236,677.73
MARCH $140,881.30 $131,313.42 $128,899.19
APRIL $141,790.77 $144,482.84 $141,901.77
TOTALS $827,625.54 $787,176.63 (- 5%) $826,458.48
Thursday, April 29, 2010
Posted by Times Staff at 1:56 PM