In November the county board passed the present budget by one vote. That budget minimized lay-offs and allowed for wage increases of 3-6% to most employees. It appears that revenue will not meet projections and a large deficit will now occur unless something is done.
Take a look at the recently released revenue charts and compare them with last year’s. Total shortfall for the five funds for the first two months is $43,888.57 or 5.3% of anticipated $827,491 revenues. Should these revenue shortfalls continue at the same rate, the annual shortfall would be six-fold or $263,331.
Last year [FY 2009] the revenue projections were considerably higher. A shortfall of approximately $45,000 had occurred at this point in 2009. FY2010 projections are very low compared to 2009 yet the 2010 shortfalls continue at the 2009 rate.
Will the Boone County Board do anything to keep its budget within bounds? Last year I repeatedly heard that a 5% budget imbalance was sufficient to reopen the budget. The 2010 revenue shortfall for these five funds currently exceed 5%. The 2010 budget anticipates a total revenue to the General Fund from all sources of $13,382,101. The $263,331 shortfall is 2% of the General Fund Revenue. Are there additional shortfalls? Are there expenditures not budgeted?
2009----------------------------2010
Click on the photocopy to enlarge:
2010 Shortfall $1,412.51 which is 1.1 % of projected 2 month income from this source.
2010 Shortfall $6,923.61 which is 5.1 % of 2 month revenue from this source.
2010 shortfall is $14, 822.37 which is 6.3% of the 2 month revenue from this source.
2010 shortfall is $ 20,286.46 which is 4.8% of the 2 month revenue from this source.
2010 shortfall is $414.61 which is .5% of the 2 month revenue from this source.
