The Anatomy of a Budget
The LFUCG budget is comprised of several different funds – the General Services District fund (General Fund), the Urban Services District fund, multiple special revenue funds, pension trust funds, and internal service funds. There are also several capital project funds and enterprise funds. The largest is the General Fund ($313 million). 84% ($262 million) of the revenue received by the General Fund is from licenses and permits, 8% ($24 million) is from services, and 7% ($22 million) is from ad valorem taxes. You can get a copy of the FY 2015 Mayor’s Proposed Budget, and you can watch the first Council meeting on the budget here.
The Proposed Budget anticipates an increase of General Fund revenue of $16 million (5.4%). The proposed growth rate is the largest since 2007 and Council will have to decide if that is a realistic expectation. The bulk of the increase ($8.5 million) is employee withholding.
The Proposed Budget also includes an increase in expenditures of $14 million (4.9%) with 64% being personnel ($9.3 million), 15% operating ($3.9 million), and 11% debt service ($33 million). 55% of the General Fund budget is spent on Public Safety ($172 million) with an increase over last year of $7 million including 15 new positions each for Police and Corrections. Proposed spending on partner agencies increased by $700,000; debt service decreased by $500,000; and both the Local Food Coordinator and the Office of Homelessness Intervention and Prevention are funded.
Council has a long way to go in analyzing the budget and the Links, sub-committees to analyze portions of the budget, are meeting now. The Links Report Out is scheduled for May 27th at 10:00 am. You can find a copy of the packet here when it is posted and view the meeting here.
