February Update: Beginning FY 2009 Income for Boone County Government Down 7.6%

The shortfall in revenues is growing and is now $98,190 or 7.6% below the projections of $1,297,731.  These numbers compare unfavorably with the  January numbers which were $33,188.78 or 4.27% below December/January projected revenue. See discussion of previous report at: http://boonecountywatchdog.blogspot.com/2009/01/income-reports-from-county-government.html Two taxes with the largest difference from projections are Personal Property Replacement which is $21,807 short  or 21.67% below projections and  the state income tax which is $38,131 short or 14.43% less than projected.   The running totals reported this February are shown below.  All figures were supplied by the County Administrator, Ken Terrinoni, to the County Finance Subcommittee.  Click on the copy to make it larger.

Here are my calculations:

PSB  141778.05 + 144409.66 +136185.88  =  422373.59                                                                      -5264.73/422373.59 =  -1.24%

CST ¼   87305.69 + 86368.04 + 82929.99 = 256603.72                                                                           -14427.07/256603.72 = –5.62%

Sales 1 %  86644.94 + 92482.07 + 74697.06 =  253824.07                                                               ---18460.87/253824.07 = –7.27%

PerProRep   25695.16 + 74935.62 = 100630.78     -21806.68/100630.78= –21.67%

State Inc  113270.88 + 151027.84 = 264298.72     --38130.75/264298.72 = –14.43%

Total Projections=  422373.59 + 256603.72 + 253824.07 + 100630.78 +264298.72 = 1297730.90

Total Shortfall  = –5264.73 + –14427.07 + –18460.87 + -21806.68 + -38130.75 = $98,190.0    98190/1297730= 7.57%

Boone board delays peaker plant verdict - Rockford, IL - Rockford Register Star

This appeared in the ROCKFORD Register Star on Thursday, February 12, 2009.  Below, I have  cut and pasted the article in case you have trouble reaching the link.

Boone board delays peaker plant verdict - Rockford, IL - Rockford Register Star

 

By Kevin Haas

RRSTAR.COM

Posted Feb 12, 2009 @ 12:46 AM

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BELVIDERE —

Boone County Board members delayed a decision Wednesday that could bring a peaker power plant to rural Boone County.
The board voted 9-3 to postpone the decision to its next meeting after some members felt more research was needed into the plant’s effect on property values, among other things.
“We owe it to the property owners around the project, we owe it to the citizens of Boone County ... to make sure we are completely informed and make an educated decision,” said Anthony Dini, board member.
Developers said the delayed vote does not push back their plans to start construction in fall 2010 and bring the plant online by May 2012.
“There’s a lot of work we have to do. We have nine to 12 months of permitting to go forward with,” said Jeff Greig, vice president of Burns & McDonnell, the architectural and engineering firm behind the project.
Power Ventures Group LLC wants to bring a 100-megawatt natural-gas fired peaking power plant to a 20-acre site east of Garden Prairie Road and south of Interstate 90 in eastern Boone County.
The facility is intended to operate during times of high energy demand — especially hot summer days — to provide stable electric power to the region.
The facility is bordered by I-90 to the north, but otherwise surrounded by farmland. Neighbors to the would-be project said the sound and sight of 12 exhaust stacks, which could be as tall as 75 feet, will lower their property values. They also don’t want to see prime agricultural land lost.
It has board members weighing whether the good of creating construction jobs and a higher property-tax base outweighs the loss of farmland.
The facility would employ four to eight people once online but would create about 125 construction jobs at its peak, developers said.
“I understand the country is going through a rough time right now, as is our community, and nation. But what about all the years that my neighbors and I have contributed valuable tax money to our economy? Does that not count for anything?” said Kevin Ernesti, a neighbor who opposes the project. “Farmland is becoming scarcer every day. You can’t make more farmland. What we have is all we will ever have.”
Staff writer Kevin Haas can be reached at 815-544-3452 or khaas@rrstar.com.