revenue status report fy 2012-2013 - general fund

7/30/2019 Revenue Status Report FY 2012-2013 - General Fund

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100 South Hill Street-P.O. Box T | Griffin, GA 30223

P 770.229.6401 F 678.692.0402 W cityofgriffin.com

Revenue Status ReportGeneral Fund

As of March 31, 2013

Markus Schwab, CPA/CITP/CGMA

Administrative Services | Chief Financial Officer

Chuck Olmsted

(Unaudited - Internal Use Only)

Administrative Services | Accounting Manager

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I. Current Economics 3

II. Unemployment Numbers 9

III. General Fund Revenue Sources 10

IV. Revenues by Category 11

V. Revenues

Taxes 12

Property Taxes 13, 14

Licenses and Permits 15

Intergovernmental 16

Charges for Services 17

Fines and Forfeitures 18

Other Revenues 19, 20


Table of Contents

Revenue Status Report - General Fund


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Collections History

I. Current Economics

Property Tax Digest

Sixth District--Atlanta

Summary. Sixth District business contacts reported that economic activity continued to advance at a modest pace from mid-February

through March. Reports across sectors were generally positive and expectations for the coming months remained optimistic.

Retail reports were mixed with some retailers citing improved sales and others feeling the pinch from a constrained consumer. Hospitality

contacts reported healthy activity in both leisure and business travel. Homebuilders and brokers experienced further improvements insales and prices of new and existing homes, and inventories continued to decline on a year-over-year basis.

Commercial contractors noted a strong year to date as construction levels improved from late last year. Overall, manufacturing activityremained positive as new orders and production increased. Loan demand remained steady according to bankers. Payrolls continued to

grow at a tepid pace as firms remained reluctant in hiring due to uncertainty over fiscal policy and healthcare reform. Prices remained

stable and most firms continued to report having relatively little pricing power.

Consumer Spending and Tourism

District merchants reported mixed results from mid- February through March. Several contacts indicated improvements in profit margins

and sales over the last three months, while others noted that they experienced the result of consumers taking a hit

with the expiration of the payroll tax cut, increased fuel prices, a delay in income tax refunds, and increased health insurance premiums.Yet, even with these challenges, most retailers remained reasonably upbeat. District automotive contacts cited favorable sales for the

same time period.

Travel and tourism activity remained robust and continued to exceed expectations, especially in the leisure segment. Although

government and business bookings decreased due to location restrictions and/or budgetary constraints, overall demand remainedhealthy. Concerns that gas prices could dampen summer travel continued; however, hospitality contacts anticipate activity to still exceed

2012 levels. International visitation for leisure and convention travel continued to be a strong contributor to growth despite the strength of

the dollar.

Real Estate and Construction

According to District brokers, housing markets across the region continued to improve. Recent sales growth was described as strong on ayear-over-year basis. Existing home inventories continued to contract and brokers noted that this was restraining

sales. Furthermore, many reported receiving multiple offers on properties, particularly at the lowend of the market. Most indicated thathome prices rose modestly compared with a year earlier. Appreciation was strongest among Florida contacts. Overall, the outlook for

existing home sales growth over the next several months remained positive.

Similar to our last report, homebuilders reported that recent new home sales were ahead of year earlier levels, and they noted improving

levels of buyer traffic across the region. Just over half said that new home inventories were below the year-ago level. The portion ofbuilders characterizing home prices as up relative to a year ago also rose compared to our previous report.

Reports also cited that new home construction was ahead of last years level. Contacts remarked that access to construction financing

had improved somewhat from late last year, but the majority continued to report that the number of actual loans made was still short ofdemand. The outlook for construction activity and new home sales over the next several months remained positive with most anticipating

levels to be slightly ahead on a year-over-year basis.

District commercial real estate contacts indicated that the first quarter of this year had started off solid compared with the end of last year.

Commercial brokers reported that net absorption was positive. Contacts also noted growing optimism as businesses in the office and

industrial sector began to position themselves for growth over the next 12 to 18 months. However, the demand for retail space remainedsoft across most of the region. Contacts remarked that investor interest had spread to secondary and tertiary markets, particularly in the

apartment sector where demand had been especially strong. Commercial contractors cited that construction improved from late last yearand backlogs were up as well. Activity was dominated by build-to-suit projects. Most contacts expect District commercial real estate

markets to improve further this year.

Manufacturing and Transportation

Regional manufacturers reported that activity expanded for the third consecutive month in March. Increases in new orders, production,employment, and finished inventory contributed to the highest level of manufacturing activity since May 2012. Contacts noted profit

margins slightly improved from mid-February through March. However, they do not expect production to be as high in the coming months

as they had in our previous report.

District truckin contacts re orted a slowdown in volume citin reduced im orts of retail oods from west coast orts alon with oor

Beige Book - April 17, 2013

Current Economic Conditions

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http://www.federalreserve.gov/default.hthttp://www.federalreserve.gov/default.hthttp://www.federalreserve.gov/default.ht


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Last update: April 17, 2013

, ,

weather conditions. Still, volumes were ahead of year earlier levels. Strong movement of housing-related materials was cited as the

housing recovery continued. Railroad companies described activity as flat to slightly down. Chemicals and oil and gas showed thestrongest growth, while coal reflected some softening, particularly in export of thermal coal. Intermodal growth remained solid and the

movement of forest products also improved. Domestic air freight traffic was up slightly, and international tonnage grew compared to thesame period last year, marked by increases in Asian volumes and exports to Europe and Latin America, specifically Brazil.

Banking and Finance

Driven by historically low rates, consumers continued refinancing mortgage loans and businesses continued restructuring debt.Competition remained intense for high quality loan applicants and community bankers noted that large regional and national banking

organizations were more willing to offer lower fixed-rate, longer-termed loans to attract these customers. Many community bankingcontacts indicated that their institution had exited the mortgage lending business altogether because of increased regulations. Some

stated that commercial real estate loan demand had increased, particularly for branded hotel construction, healthcare, and multi-family

projects. Banks also cited more willingness to lend to small businesses; however, the overall demand for loans and credit line usagecontinued to remain low. Credit spreads remained tight and some bankers reported downward pressure on loan pricing.

Employment and PricesSince our last report, payroll growth continued to increase at a lackluster pace across the District, though contacts continued to report that

uncertainty over fiscal policy and healthcare reform were contributing to reluctance in hiring. In Florida and Georgia, the two states in theDistrict with the largest concentrations of employment, unemployment rates declined slightly since the previous report, while

unemployment rates have fluctuated in the four other states due to changes in the size of those states labor force.

Input costs remained mostly stable. Increases in prices for fuel and construction materials were viewed by most firms as transitory. Year-

ahead unit cost expectations were 1.9 percent in February and March, roughly unchanged since the beginning of the year, according to

the Atlanta Feds Business Inflation Expectations Survey. Most businesses noted very little pricing power.Exceptions were transportation contacts who were able to successfully cover cost increases using fuel surcharges, and retailers, whose

profit margins improved as sales levels ticked up somewhat over the reporting period.

Natural Resources and Agriculture

The energy industry remained an especially bright spot in the region. In particular, projects to increase the Gulf Coasts liquefied natural

gas (LNG) export capacitythrough investment in new LNG export facilities at ports and new transportation infrastructure, like pipeline

and LNG tankswere strong drivers of capital and labor demand.

Drought conditions improved significantly in Georgia, southeastern Alabama, and the Florida panhandle. Since the last report, monthly

soybean and corn prices rose moderately, while broiler prices reached record highs. Cotton prices continued to be below year-ago levels,

but rose modestly since the last report. Driven by increasing global demand and low interest rates, contacts reported continuedinvestment in new, more efficient equipment reducing both labor and fuel costs.

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Interest Rate Outlook Panel of Economists

Lacy H. Hunt, executive vice president of Hoisington Investment Management, said: "Economic growth in the first quarter, although not

very good, is likely to be the best of year. Total tax increases on January 1 amounted to $275 billion, or 1.8% of $15.85 billion GDP in the

fourth quarter. From Q4 2011 to Q4 2012, nominal GDP grew just 3.5%. This tax hike should drive yearly growth in nominal GDP to 2%or less from the fourth quarter of this year. Such poor top-line growth leaves little room for either real growth or inflation. Major tax

increases have their most negative impacts in the second and third quarters after the tax increase. By the end of the third quarter, half ofthe contractionary effects of the tax will be felt, with a continuing drag from quarter four through the 12 after the enactment of the tax

increase. The first quarter benefited from reconstruction expenditures related to super storm Sandy. The economic benefit will be

considerably less in the second quarter, or just as the more tax effects begin to hit the economy much more sharply. The householdsector is not well positioned to absorb these higher taxes. Real average weekly earnings in February were 0.2% below the year-earlier

level. Adjusted for the FICA tax increase, real earnings would be more than 2% less than a year ago. University of Michigan ConsumerSentiment in the first ten days of March dropped sharply, falling to a 25-month low, quite possibly serving as an early warning sign of

deteriorating economic fundamentals. Earnings are far more significant to more households than gains in the stock market. Econometric

studies show that the so-called wealth effect is negligible and not observable for households with less than $130,000 in annual income.While consumer spending rose in January and February, most of this gain was due to higher costs of necessities. Without growth in

income, households were forced to sharply reduce their saving rate in February, which will need to be replenished. When taxes rise, the

initial reaction of households is to try to maintain their standard of living by reducing their saving. But, as time passes, saving rises, thusaccounting for the lagged impact of higher taxes on economic activity. The need to rebuild saving this year will be even greater because

of this year's jump in the cost of necessities.""The weakness in real average weekly earnings indicates that the gains in employment this year have not generated income. Instead

they mainly reflect that firms are substituting part time jobs for full time jobs. A mix or more part-time and fewer full-time jobs reduced totalcompensation since the former do not receive benefits. This trend will certainly continue through June 30, 2013, when firms must

establish their base for the Affordable Care Act that goes into effect on January 1, 2014. The employment to population ratio, which is notbiased by a shift from full to part-time work, has stagnated this year, indicating that the labor markets are not, contrary to conventional

wisdom, getting better. In short, the U.S. economy faces considerable impediments to growth, and the rise in GDP is likely to be even

slower than last year's paltry rise, with growth after the first quarter getting progressively softer."

James Glassman, managing director and senior economist atJ.P. Morgan Chase and Co., said: "The near-term outlook is

faces uncertainty associated with the drag from the hike in theSocial Security payroll tax and federal government

sequestration cuts. But the economy entered the year with

more momentum than many expected, and the rising stockmarket is creating substantial capital gains that are supporting

consumption.

At the same time, the falling number of weekly applications for unemployment benefits is confirmation that the job market continues tostrengthen. I anticipate that the economy will grow faster in 2013 than last year, at about a 3% pace, and accelerate further in 2014, in

line with the Fed's 3-4% growth range." "The European-27 area is expected to pick up speed in 2013, growing about 2 percent, up fromno growth in 2012. The Italian election symbolizes a pushback on fiscal austerity by the electorate that has been such a drag on the

region."

John Lonski, chief economist, Moody's Investor's Service, and

Ben Garber, an economist at Moody's, said: "Key indicators will

include monthly job and income figures. If they slide belowtrend in light of government spending cuts, markets and

economic performance will soften in the months ahead."

The stock market is roaring along, the jobs numbers look good,

and consumer confidence is up. At the same time, Italy is onceagain a matter of concern, a number of workers are in fact

under-employed, and consumer confidence - and the stock

market, for that matter - is not necessarily the best overallindicator. What should we be thinking about regarding the U.S.

economy, now and for the next few months?

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Snapshot of Economy and Interest Rates

Annualized Returns Since

DateAverage

ReturnJan.1, 2011 Jan. 1, 2010

Jan. 1, 2012 0.02% 0.02% 0.06%Jan. 1, 2013 0.02% 0.03% 0.03%Feb. 1, 2013 0.02% 0.03% 0.03%Mar. 1, 2013 0.02% 0.03% 0.03%Apr. 1, 2013 0.02% 0.03% 0.03%

Date 7-day yield 30-day yieldMaturity

(Days)22-Mar-13 0.05% 0.05% 49

3/29/2013 Year Ago

0.12 0.12

0.10 *

0.15 *

0.23 0.23

0.08 0.09

0.14 0.18

0.08 *

3.99 4.08

* No quote because the market is unstable

Bond Buyer 20-bond municipal

index

Key Rates: Cash Markets

CDs: Three months

CDs: Six months

Commercial paper, dealer-placed, 3 months

Economic Summary

Investment Performance Benchmarks

The money market fund

index

S&P Rated LGIP Index

Rate

Fed funds

Moving Averages

BAs: One month

T-bills: 52-week yield

10-Year Treasury Note

6-Month Treasury Bill

T-bills: 91-day yield

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Notes

April 2013 Volume 31, Number 4

The money market fund index- This index is the simple average of iMoneyNet Money Fund Averages /Taxable (All) seven-day

money market fund indexes, as reported for the two weeks closest to the end of each month. The annualized return is calculated using

these rates for a four-week period centering on the first of each month. The results should simulate returns from passive investment in an

average money market fund.

S&P Rated LGIP Index- This index is comprised of local government investment pools that are rated AAAm or AAm by Standard &

Poor's and represents pools that strive to maintain a stable net asset value.

Government Finance Officers Association of the United States and Canada

Editor: Marcy BoggsExecutive Director/CEO: Jeffrey Esser

Moving Averages -The four-week moving averages are calculated as a simple average of Friday closing yield quotations for the most

recently offered six-month Treasury bill (discount basis), two-year Treasury note, and 10-year Treasury note. Moving averages are used

by analysts to monitor trends and trend changes. Generally, interest rates are increasing (prices falling) when the moving average yield is

rising and the current rate exceeds the moving average. Conversely, current yields below a declining moving average are associated with

lower interest rates (high prices on fixed-income securities). Some market timers buy (or sell) longer maturities when current market

ields fall below or enetrate above their movin avera es.

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April 30, 2013

TAVT True-up Amount

TAVT LOST Amount

TAVT SPLOST Amount

Should you have any questions, please feel free to contact Michael McPherson of GMA at (678) 686-6390.

House Bill 386 Tax Reform Legislation

The amount of revenue split by the county and all other taxing jurisdictions (after the state portion of 57% for 2013

has been removed) according to that countys SPLOST agreement.

In crafting the tax reform package, the Georgia General Assembly attempted to make the TAVT revenue neutral by adding language

into law that requires internet retailers to remit sales tax as well as eliminating the sales tax exemption on film production. The problemwith these sources of revenue is that e-fairness is very difficult to enforce at the state level, and the other will only bring in sales tax inareas of the state where movies are filmed

TAVT will be distributed monthly by the county tax commissioner to both the state and the local taxing authorities. The tax commissioner

is responsible for comparing 2012 monthly motor vehicle ad valorem tax figures with those figures of the corresponding month in 2013,then distributing the amount due to local taxing authorities to true-up the 2013 revenue to the same level as 2012 ad valorem tax

revenue. If the amount of TAVT in a given month in 2013 is less than the same calendar month of 2012, the difference should be noted

as a Shortfall by the tax commissioner and be spread across each taxing authority proportionally. The amount of the Shortfall is to becovered by the following months TAVT funds. Remaining TAVT revenue will be distributed based on the formulas of various sales tax

sharing agreements (LOST, ELOST, HOST, MARTA, and SPLOST). If the amount of TAVT in a given month in 2013 is less than thesame calendar month of 2012, the difference should be noted as a Shortfall by the tax commissioner and be spread across each taxing

authority proportionally. The amount of the Shortfall is to be covered by the following months TAVT funds.

As the first distributions of Georgias Motor Vehicles Ad Valorem Title Tax (TAVT) begin to be received by local governments around the

state, there may be some initial confusion as to just what these funds are and how to account for them. This confusion may come from

the three notations accompanying the distribution; LOST Amount, SPLOST Amount and True-up Amount. These notations refer to how

the revenue should be distributed as outlined in HB 386, passed in 2012, and HB 266, passed in 2013. The following are simplifieddefinitions of each notation:

Although the proportion of TAVT a local government will receive is based on the way LOST and SPLOST funds are distributed, TAVT

funds do not have the restrictions on allowable uses like LOST and SPLOST funds. This is the good news: TAVT funds can be used tohelp where needed, including help paying for SPLOST projects. The bad news is that SPLOST revenues may not meet their projections

due to the elimination of both the Motor Vehicle Sales Tax and the Sales Tax on Energy Used in Manufacturing. Several other sales tax

exemptions may add to the loss of sales tax collections, more so in certain areas of the state. These exemptions include the AgricultureSales Tax Exemptions (GATE Program), the Construction Materials Sales Tax Exemption for Projects of Regional Significance, and the

reinstitution of Sales Tax Holidays in 2012 and 2013. These exemptions will not only impact SPLOST, they will impact all sales tax

revenues.

Understanding Georgia's Motor Vehicles Ad Valorem Title Tax (TAVT) Distribution

Updated Wednesday, May 1, 2013

As the smoke of tax reform begins to settle with the full implementation of the TAVT, cities may want to determine which area of sales taxhas been hit hardest within their jurisdiction. The DOR will provide sales tax data by industry in a given county upon request. If a city can

determine how much of a particular industry is within its boundaries, then it may be possible to determine which aspect of tax reform has

hit your city the hardest. Good accounting and good analysis will be the key in understanding the numbers.Moving forward, city financial managers should also keep concise records of TAVT distribution figures in order to be in a position to make

reasoned and reliable projections of revenue expectations for the year(s) ahead. The process for TAVT distributions is highly technical

and, quite frankly, very hard to understand. In the coming months, the DOR will have their hands full making sure county tax agentsacross the state are properly trained to manage the distributions. Although it should go without saying, vigilance will be necessary in order

to make sure your city is getting (and continues to get) the correct amount due.

The difference between a jurisdictions combined motor vehicles ad valorem tax revenue in the corresponding month

from 2012 and the ad valorem tax revenue from the same month in 2013.

The amount of revenue split by the county and all other taxing jurisdictions (after the state portion of 57% for 2013

has been removed) according to that countys LOST distribution formula, and after the True-up for ad valorem tax.

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Georgia Labor Force Employment

Un-

employment

Un-

employment

Rate

# C ange n

Un-

employment

% C ange n

Un-

employment

Mar-2010 4,720,325 4,238,988 481,337 10.20

Mar-2011 4,752,863 4,282,666 470,197 9.90 (11,140) -2.31%

Mar-2012 4,797,535 4,358,880 438,655 9.10 (31,542) -6.71%Mar-2013 4,821,591 4,414,949 406,642 8.40 (32,013) -7.30%

Spalding County Labor Force Employment

Mar-2010 28,975 24,995 3,980 13.70

Mar-2011 28,551 24,968 3,583 12.50 (397) -9.97%

Mar-2012 28,711 25,398 3,313 11.50 (270) -7.54%

Mar-2013 29,050 25,885 3,165 10.90 (148) -4.47%

Georgia Spalding County

Georgia Spalding County

Data comes from the U.S. Department of Labor, Bureau of Labor Statistics

ange n

Un-

employment

ange n

Un-

employment

Latest Unemployment Figures

n-

employment

Rate

II. Unemployment Numbers

Un-

employment

Georgia, 10.20

9.90 9.108.40

Spalding, 13.70

12.50

11.5010.90

7.50

10.00

12.50

15.00

Mar-2010 Mar-2011 Mar-2012 Mar-2013

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Taxes

Intergovernmental

Licenses and Permits

Charges for Services

Miscellaneous Revenues

Investment Income This category represents interest and dividend earnings from investments.

Taxes account for approximately 38 percent of the City's general operating revenue

coming from property taxes, local option sales taxes, insurance premium taxes,

alcohol taxes, business occupation taxes, and motor vehicle taxes, etc Property

taxes alone represent approximately 16 percent of general fund revenue followed by

local option sales tax of approximately 13 percent of general fund revenue.

Fines and Forfeitures Near 4 percent of total general fund revenue, traffic fines make up 65 percent of thiscategory or $650000 with the balance (35 percent or $350000,) from traffic cameras

(running red lights), seatbelt fines, and ordinance fines.

Rents and Royalties

This category accounts for revenue sources (predominantly grants) from other

governmental agencies.

Service fees include business occupation tax administration fees, police service

charges for copies, documents, etc., plan review and zoning document fees, and

pavilion rentals. This category also includes a large portion ($5.4M) in administrative

cost allocations coming from enterprise and internal services funds.

The City's general fund revenue sources include (by category) Taxes, Intergovernmental, Fines and Forfeitures, Licenses and

Permits, Charges for Services, Rents and Royalties, etc These types of revenue sources, such as taxes, are subject to

economic ebbs and flows, are directly and indirectly connected through changes in the unemployment figures.

III. General Fund Revenue Sources

How do employment economics relate to the City of Griffin and its revenue sources?

These are revenues from leased office and parking lot spaces.

This category includes insurance settlements, claims, recoveries, and miscellaneous

reimbursements.

Licenses and permits make up less than 1 percent of total general fund revenue.

Licenses make up approximately 70 percent or $190000 of this category. The balance

of 30 percent or $82200 comes from permits.

Cost allocations, depending on their nature, can be non-cash book entries in order to

comply with Generally Accepted Accounting Principles (GAAP). Allocations are

designed to shift and allocate costs to business units in order to show true operating

costs.)

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance % Weighted

Total Revenues 26,841,130$ 28,620,510$ 27,344,177$ 503,047$ 1.87% 100.00%

2 211 214

By Category

Operating Revenue

Taxes 10,310,000 10,574,700 10,660,580 350,580 3.40% 69.69%

Licenses and Permits 272,200 348,270 336,610 64,410 23.66% 12.80%

Charges for Services 5,122,753 5,041,530 5,191,730 68,977 1.35% 13.71%

Fines and Forfeitures 1,000,000 900,340 881,840 (118,160) -11.82% 23.49%

Rents and Royalties 215,041 235,260 234,110 19,069 8.87% 3.79%

Total Operating Revenue 16,919,994 17,100,100 17,304,870 384,876 2.27% 76.51%

Non-operating IncomeIntergovernmental 198,500 278,370 295,820 97,320 49.03% 19.35%

Interest/Investment Income 8,000 12,940 10,500 2,500 31.25% 0.50%

Contributions and Donations 0 1,400 370 370 100.00% 0.07%

Gain (Loss) on Sale of Capital Assets 0 660,490 17,250 17,250 100.00% 3.43%

Total Non-operating Income 206,500 953,200 323,940 117,440 56.87% 23.35%

Transfers in from Other Funds 9,714,636 10,567,210 9,715,367 731 0.01% 0.15%

Total Revenues 26,841,130$ 28,620,510$ 27,344,177$ 503,047$ 1.87% 100.00%

0 0 0

Adjustments:

Gain (Loss) on Sale of Capital Assets: 0 660,490$ 17,250$ 17,250$

***No adjustments as of the report date.*** 0

Ga n Loss on Sa e o Cap ta Assets

after Adjustments: 0 660,490 17,250 17,250

Total Adjustments: 0 0 0 0

Total Revenues after Adjustments 26,841,130$ 28,620,510$ 27,344,177$ 503,047$ 1.87%

ANALYSIS:

Total General Fund Revenues

Total General Fund Revenues as of the date of this report are forecast at $27.3 million after adjustments (up $503

thousand or 1.87 percent of Budget).

As of March 31, 2013 the revenue forecast model projects Local Option Sales Tax (LOST) revenues at $3.52 million (up $118

thousand dollars or 3.5 percent of Budget).

General Fund

IV. Revenues by Category

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Total Tax Revenues 10,310,000$ 10,574,697$ 10,660,580$ 350,580$ 3.40% 100.00%

By Category

Property Taxes

Real Property Tax 3,850,000 3,862,440 3,948,420 98,420 2.56% 28.07%

Public Utility Tax 30,000 52,340 30,000 0 0.00%

Motor Vehicle Tax 270,000 272,587 267,290 (2,710) -1.00% 0.77%

Intangible Tax 14,000 26,403 23,250 9,250 66.07% 2.64%

Railroad Equipment Tax 5,000 4,487 1,500 (3,500) -70.00% 1.00%

Real Estate Transfer Tax 4,000 8,036 7,850 3,850 96.25% 1.10%

Timber Tax 0 0 10 10 100.00% 0.00%

Real Property Tax - Prior Year 0 15,593 0 0

Heavy Equipment Tax 0 0 0 0Property not on Tax Digest 0 372 0 0

Sub-total Property Taxes 4,173,000 4,242,258 4,278,320 105,320 2.52% 30.04%

Franchise Taxes

Franchise Fees - Electric 70,000 49,684 49,680 (20,320) -29.03% 5.80%

Franchise Fees - Natural Gas 159,000 116,773 155,310 (3,690) -2.32% 1.05%

Franchise Fees - Cable Television 220,000 233,771 229,400 9,400 4.27% 2.68%

Franchise Fees - Telephone 140,000 137,430 116,160 (23,840) -17.03% 6.80%

Sub-total Franchise Fee Taxes 589,000 537,658 550,550 (38,450) -6.53% 10.97%

Food and Beverage Taxes

Wine Tax 0 0 0 0

Beer Excise Tax 500,000 576,251 586,540 86,540 17.31% 24.68%

Liquor Excise Tax 40,000 56,125 50,480 10,480 26.20% 2.99%Sub-total Beer, Wine, Liquor & Mixed

Drink Tax 540,000 632,376 637,020 97,020 17.97% 27.67%

Payment in Lieu of Taxes 0 9,213 9,210 9,210 100.00% 2.63%

Local Option Sales Tax (LOST) 3,400,000 3,489,006 3,517,770 117,770 3.46% 33.59%

Hotel Motel Tax 0 0 0 0

Business Occupation Tax 400,000 347,870 351,450 (48,550) -12.14% 13.85%

Insurance Premium Tax 1,100,000 1,191,620 1,191,690 91,690 8.34% 26.15%

Financial Institution Tax 75,000 91,965 92,240 17,240 22.99% 4.92%

Penalty and Interest on Delinquent

Taxes 33,000 31,081 31,250 (1,750) -5.30% 0.50%

Penalty and Interest on Delinquent

Business Licenses and Permits 0 1,650 1,080 1,080 100.00% 0.31%

Homeowner's Tax Relief Grant 0 0 0 0

Total Tax Revenues 10,310,000$ 10,574,697$ 10,660,580$ 350,580$ 3.40% 100.00%

Cable fees average $50k to $51k per quarter.

Notes: - Franchise Fees are paid in quarterly installments

Phone fees average $36k to $38k per quarter.

General Fund

V. Revenues

Tax Revenues

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Taxes:

Property Taxes

In Summary

Homeowners Tax Relief Grant (HTRG)

Sales Tax Distribution

Sales Tax Distribution

Jurisdiction Tax Type

For the

Month

Last

Twelve

Months

Current

Fiscal Year

--James Baldwin,

American novelist, essayist, playwright and poet

CITY OF GRIFFIN (LOST)

Fiscal year 2009 was the last year for the Homeowners Tax Relief Grant program.

1. The 2012 property tax gross digest decreased to just under $548.2M (down $-31.8M from $580.1M in the prior year).

LOST

Not everything that is faced can be changed. But nothing can be changed until it is faced

LOST

SPLOST

$ 3,851,433

$ 6,448,707

$ 792,625 $ 8,669,895SPALDING COUNTY BOARD OF COMMISSIONERS (SPLOST)

SPALDING COUNTY-GRIFFIN BD OF EDUCATION (ELOST)

$ 2,597,219

SPALDING COUNTY BOARD OF COMMISSIONERS (LOST)

$ 3,486,678

$ 6,445,595

$ 471,733

ELOST

The net levy decreased to $4600290 (down $89700 from $4689990 in the prior year).

Below is a chart of sales tax distributions for the City of Griffin, Spalding County and Griffin Board of Education. The chart shows

distributions for the month, total distributions for the last twelve consecutive months, and year to date for the current fiscal year. Data

comes from the Georgia Department of Revenue.

$ 8,672,327

$ 320,956

As of March 31, 2013 the revenue forecast model projects Local Option Sales Tax (LOST) revenues at $3.52 million (up $118 thousand

dollars or 3.5 percent of Budget).

Sales Tax Distribution As of March 31, 2013

3. Changes in the gross digest and M&O exemptions reduced the net M&O digest to $511.8M (down $-31.3M from $543.1M in the prioryear).

$ 5,185,622

Amount of Distribution

$ 793,606

2. Maintenance and operations (M&O) exemptions decreased to $36.5M (down $-0.5M from $37M in the prior year).

Page 13 of 21
https://etax.dor.ga.gov/STDistribution/Default.aspxhttps://etax.dor.ga.gov/STDistribution/Default.aspx


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166 178 190 202 214

2009 2010 2011 2012

FY 2013

(Projected)

Property Tax Revenue 4,682,938$ 4,798,935$ 4,662,904$ 4,699,665$ 4,278,320$(percentage change over prior years) 2.48% -2.83% 0.79% -8.97%

Penalty and Interest on Delinquent Taxes 28,953$ 43,489$ 29,000$ 56,200$ 31,250$

(percentage change over prior years) 50.21% -33.32% 93.79% -44.40%

2008 2009 2010 2011 2012Real & Personal $595,986,256 $570,215,369 $564,247,211 $545,778,551 $515,739,790

Motor Vehicle 35,403,020 36,624,500 31,458,590 34,277,550 32,485,150

Mobile Homes

Public Utility

Timber 14,575 45,000 5,220

Heavy Duty Equipment 28,760 6,017

Gross Digest 631,432,611 606,890,886 595,711,021 580,056,101 548,224,940

(dollar change over prior years) (24,541,725) (11,179,865) (15,654,920) (31,831,161)

(percentage change over prior years) -3.89% -1.84% -2.63% -5.49%

Less:

Maintenance and Operations

(M&O) Exemptions: 50,826,550 40,876,237 34,913,558 36,982,207 36,456,368

(dollar change over prior years) (9,950,313) (5,962,679) 2,068,649 (525,839)

(percentage change over prior years) -19.58% -14.59% 5.93% -1.42%

NET: M&O Digest 580,606,061 566,014,649 560,797,463 543,073,894 511,768,572

(dollar change over prior years) (14,591,412) (5,217,186) (17,723,569) (31,305,322)


Millage (rate per thousand dollars) 8.638 8.636 8.636 8.636 8.989Net Levy $5,015,275 $4,888,100 $4,843,050 $4,689,990 $4,600,288

(dollar change over prior years) (127,175) (45,050) (153,060) (89,702)


(1) Property taxes as presented in the Comprehensive Annual Financial Report Statement of Revenues, Expenditures and Changes in

Fund Balances Governmental Funds. Includes Real Property Tax, Public Utility Tax, Timber Tax, Real Property Tax - Prior Year, Motor

Vehicle Tax, Railroad Equipment Tax, Intangible Tax, Heavy Equipment Tax, Property-Not-on-Digest, Real estate Transfer Tax,

Homeowner's Tax Relief Grant (HTRG).

Tax Digest and 5 Year History

General Fund

Property Taxes(1)

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Total Licenses and Permits Revenues 272,200$ 348,270$ 336,610$ 64,410$ 23.66% 100.00%

By Category

Licenses

Beer License 40,000 43,160 43,100 3,100 7.75% 4.81%

Wine License 40,000 41,600 41,640 1,640 4.10% 2.55%Liquor License 110,000 110,300 110,310 310 0.28% 0.48%

Sub-total Licenses 190,000 195,060 195,050 5,050 2.66% 7.84%

Permits

House Moving Permits 0 0 0 0

Burn Permits 0 0 0 0

Zoning & Land Use Permits 5,000 4,210 3,860 (1,140) -22.80% 1.77%

Sign Permits 15,000 16,700 14,690 (310) -2.07% 0.48%

Catering Permits 400 400 420 20 5.00% 0.03%

Building Permits 44,000 70,610 62,570 18,570 42.20% 28.83%

Plumbing Permits 5,000 9,020 8,800 3,800 76.00% 5.90%

Electrical Permits 8,500 17,070 16,440 7,940 93.41% 12.33%

Gas Permits 300 2,380 2,570 2,270 756.67% 3.52%Mechanical Permits 4,000 10,210 10,130 6,130 153.25% 9.52%

Sub-total Licenses and Permits 82,200 130,600 119,480 37,280 45.35% 57.88%

Insurance Regulatory Fees 0 22,110 21,560 21,560 100.00% 33.47%Interest on Business Licenses 0 500 520 520 100.00% 0.81%

Sub-total Licenses and Permits 0 22,610 22,080 22,080 100.00% 34.28%

Total Licenses and Permits Revenues 272,200$ 348,270$ 336,610$ 64,410$ 23.66% 100.00%

2009 2010 2011 2012

FY 2013

(Projected)

Licenses and Permits Revenue $ 300,540 $ 284,588 $ 285,302 $ 319,097 $ 314,530

(percentage change over prior years) -5.31% 0.25% 11.85% -1.43%

Licenses 208,271$ 185,438$ 192,000$ 196,800$ 195,050$

(percentage change over prior years) -10.96% 3.54% 2.50% -0.89%

Permits 92,269$ 99,150$ 93,302$ 122,297$ 119,480$

(percentage change over prior years) 7.46% -5.90% 31.08% -2.30%

General Fund

General FundLicenses and Permits

Licenses and Permits

$300,540

$284,588 $285,302

$319,097

$314,530

2009 2010 2011 2012 FY 2013 (Projected)Licenses and Permits Revenue

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Total Intergovernmental Revenues 198,500$ 278,370$ 295,820$ 97,320$ 49.03% 100.00%

By Category

DNR Funding 0 85,110 85,110 85,110 100.00% 87.45%

Federal DEA Overtime

Reimbursement 29,000 49,440 38,530 9,530 32.86% 9.79%

City of Atlanta HIDTA 7,000 0 7,000 0 0.00%

GMA Mutual Aid Reimbursements 0 0 0 0

School Resource Officers 76,300 87,230 76,300 0 0.00%

Prism Training Revenue 10,000 11,870 12,680 2,680 26.80% 2.75%

Spalding County Board of Education 0 0 0 0

Reimbursement Spalding County 53,200 0 53,200 0 0.00%

0

Grants 0

LCI Grant ARC 0 0 0 0

LLEBG - Vest Grant 0 0 0 0

Byrne Grant 23,000 19,440 23,000 0 0.00%

GMA Safety Grant 0 0 0 0FEMA Grants 0 25,280 0 0

Su -tota Grants 23,000 44,720 23,000 0 0.00%

Total Intergovernmental Revenues 198,500$ 278,370$ 295,820$ 97,320$ 49.03% 100.00%

2009 2010 2011 2012

FY 2013

(Projected)

Total Intergovernmental Revenue 406,382$ 678,255$ 275,160$ 219,917$ 295,820$

(percentage change over prior years) 66.90% -59.43% -20.08% 34.51%

Intergovernmental Reimbursements 383,429$ 394,755$ 207,160$ 175,217$ 272,820$

(percentage change over prior years) 2.95% -47.52% -15.42% 55.70%

Grants 22,953$ 283,500$ 68,000$ 44,700$ 23,000$

(percentage change over prior years) 1135.13% -76.01% -34.26% -48.55%

Intergovernmental Revenues

General Fund

Intergovernmental

General Fund

$406,382

$678,255

$275,160$219,917

$295,820

2009 2010 2011 2012 FY 2013 (Projected)

Total Intergovernmental Revenue

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Total Charges for Services Revenues 5,122,753$ 5,041,530$ 5,191,730$ 68,977$ 1.35% 100.00%

By Category

Indirect Cost Allocations 4,960,303 4,801,170 4,960,310 7 0.00% 0.01%

Returned Check Fees 0 120 560 560 100.00% 0.81%

Election Qualifying Fees 0 0 0 0

Business Occupation Tax

Administration Fee 0 23,550 23,480 23,480 100.00% 34.04%

Business List Reports 0 100 40 40 100.00% 0.06%

Data Processing Fees 0 13,540 15,470 15,470 100.00% 22.43%

Credit Card Fees 0 3,910 3,640 3,640 100.00% 5.28%

Fire Inspections 0 210 240 240 100.00% 0.35%

Cemetery Fees 140,000 157,810 152,250 12,250 8.75% 17.76%

Pool Service Fees 5,050 5,770 5,380 330 6.53% 0.48%

Sale of Recycled Materials 0 0 0 0

Pavilion Rental 12,000 8,130 8,620 (3,380) -28.17% 4.90%

Plan Review Fees 5,000 25,240 17,730 12,730 254.60% 18.46%

Demolition Recovery Fees 0 1,500 3,550 3,550 100.00% 5.15%

Customer Service Fee 0 0 0 0Zoning Application Fees 400 480 460 60 15.00% 0.09%

Total Charges for Services Revenues 5,122,753$ 5,041,530$ 5,191,730$ 68,977$ 1.35% 100.00%

2009 2010 2011 2012

FY 2013

(Projected)

Charges for Services Revenue 5,043,464$ 4,454,639$ 4,913,673$ 4,750,913$ 5,191,730$

(percentage change over prior years) -11.68% 10.30% -3.31% 9.28%

Indirect Cost Allocations 4,743,332$ 4,178,087$ 4,673,000$ 4,437,900$ 5,374,970$


Charges for Services 300,132$ 276,552$ 240,673$ 313,013$ (183,240)

(percentage change over prior years) -7.86% -12.97% 30.06% -158.54%



General Fund

General Fund

$5,043,464

$4,454,639

$4,913,673

$4,750,913

$5,191,730

2009 2010 2011 2012 FY 2013 (Projected)

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Total Fines and Forfeitures Revenue 1,000,000$ 900,340$ 881,840$ (118,160)$ -11.82% 100.00%

By Category

Police Revenue 15,000 15,380 15,950 950 6.33% 0.80%

Traffic Fines 650,000 596,130 568,900 (81,100) -12.48% 68.64%

Camera Traffic Light Fines 325,000 288,390 293,660 (31,340) -9.64% 26.52%

Code Violations 0 0 0 0

Seat Belt Fines 0 0 0 0

Ordinance Fines 10,000 440 3,330 (6,670) -66.70% 5.64%

Total Fines and Forfeitures Revenue* 1,000,000$ 900,340$ 881,840$ (118,160)$ -11.82% 100.00%

*** Seat Belt Fines --- beginning July 1, 2011 seat belt fines are combined with traffic fines.

Fines and Forfeitures

General Fund

$758,948

$644,537

$728,000

$636,100

$568,900

$403,596$434,595

$318,276

$310,300$293,660

30-Jun-09 30-Jun-10 30-Jun-11 30-Jun-12 30-Jun-13

Traffic Fines Camera Traffic Light Fines

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Budget

Rolling

Twelve

Month

Actual Projection

Projected

Over

(Under)

Budget % Variance

% Weighted

on Category

Other Revenues

Investment Income 8,000$ 12,940$ 10,500$ 2,500$ 31.25% 6.26%

Rents, Royalties and Other

Rents 198,541 213,120 211,520 12,979 6.54% 32.51%

Insurance Claims 16,500 16,240 16,680 180 1.09% 0.45%

Miscellaneous Revenue 0 5,930 5,910 5,910 100.00% 14.80%Contributions and Donations 0 1,370 370 370 100.00% 0.93%

Sub-total Rents, Royalties and Other 215,041 236,660 234,480 19,439 9.04% 48.69%

Proceeds and Other Financing

Sources

Proceeds of GMA Leases0 642,740 0 0Procee s o Sa es o F xe Assets 0 17,750 17,250 17,250 100.00% 43.21%

Sub-total Proceeds and Other

Financing Sources 0 660,490 17,250 17,250 100.00% 43.21%

Transfers:

Transfer from Confiscated Assets

Fund 13,500 0 0 (13,500) -100.00% 33.82%

Transfer from Hotel Motel Tax Fund 24,419 20,790 23,440 (979) -4.01% 2.45%

Transfer from Police Tech Fund 50,000 0 50,000 0 0.00%

Transfer from Court Tech Fund 25,000 0 25,000 0 0.00%

Transfer from Cemetery Fund 94,170

Transfer from Water/Wastewater

Fund 1,800,000 4,065,250 1,800,000 0 0.00% 0.00%

Transfer from Electric Fund 7,756,617 6,412,860 7,756,617 0 0.00% 0.00%Transfer from Welcome Center Fund (4,380) 8,250 8,250 100.00% 20.67%

Transfer from Solid Waste Fund

Transfer from Airport Fund 45,100 45,100 0 0.00% 0.00%

Transfer from Storm Water Fund

Transfer from Golf Course

Transfer from Motor Pool

Transfer from GBTA (21,480) 6,960 6,960 100.00% 17.43%

Sub-total Transfers from Other Funds 9,714,636 10,567,210 9,715,367 731 0.01% 1.83%

Total Other Revenues 9,937,677$ 11,477,300$ 9,977,597$ 39,920$ 0.40% 100.00%

Other Revenues

General Fund

Page 19 of 21


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2009 2010 2011 2012

FY 2013

(Projected)

Interest Income 15,966$ 6,847$ 8,829$ 8,829$ 10,500$

(percentage change over prior years) -57.12% 28.95% 0.00% 18.93%

Rental Income 191,521$ 195,969$ 196,689$ 193,874$ 211,520$

(percentage change over prior years) 2.32% 0.37% -1.43% 9.10%

Donations and Contributions 883$ 0 454$ 0 370$


Other Revenues 14,884$ 28,680$ 4,957$ 16,871$ 39,840$

(percentage change over prior years) 92.69% -82.72% 240.35% 136.14%

--Johann Wolfgang von Goethe,

German writer, artist and politician

All truly wise thoughts have been thought already thousands of times; but to make them truly ours, we must

think them over again honestly, till they take root in our personal experience. "

Other Revenues

General Fund

$15,966

$6,847

$8,829 $8,829

$10,500

$5,000

$10,000

$15,000

$20,000

2009 2010 2011 2012 FY 2013 (Projected)

Interest Income

Interest Income

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www.cityofgriffin.com

Department of Administrative Services

City of Griffin

THIS PAGE INTENTIONALLY LEFT BLANK

Finance and Accounting Division

Griffin, Georgia 30223

100 South Hill Street
http://www.cityofgriffin.com/

revenue status report fy 2012-2013 - general fund

Documents