auditor frank j. gliha€¦ · the company ranks the creditworthiness of borrowers using a...

Auditor Frank J. Gliha

Chief Fiscal Officer of Geauga County

Economic State of Geauga County

2012

Moody's Investors Service, often referred to as Moody's. Moody's Investors Service provides international financial research on bonds issued by commercial and government entities and, with Standard & Poor's and Fitch Group, is considered one of the Big Three credit rating agencies. The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default. Moody's Investors Service rates debt securities including government, municipal and corporate bonds; In Moody's Investors Service's ratings system securities are assigned a rating from Aaa to C, with Aaa being the highest quality and C the lowest quality. Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.

Frank J. Gliha, Geauga County Auditor

Moody’s Corporation

http://en.wikipedia.org/wiki/Bond_(finance)

http://en.wikipedia.org/wiki/Standard_&_Poor's

http://en.wikipedia.org/wiki/Fitch_Group

http://en.wikipedia.org/wiki/Big_Three_(credit_rating_agencies)

http://en.wikipedia.org/wiki/Credit_risk

http://en.wikipedia.org/wiki/Default_(finance)

http://en.wikipedia.org/wiki/Security_(finance)

http://en.wikipedia.org/wiki/Government_bond

http://en.wikipedia.org/wiki/Municipal_bond

http://en.wikipedia.org/wiki/Corporate_bond

http://en.wikipedia.org/wiki/John_Moody_(financial_analyst)

http://en.wikipedia.org/wiki/Bond_credit_rating


MOODY’s Ranking Of Geauga County

SOLID FINANCIAL OPERATIONS EXPECTED TO

REMAIN STABLE IN FISCAL 2012

2010 Moody's upgraded our Bond rating to AA1

2011 Moody's confirmed our Bond rating to AA1

2010 Interest on Safety Center Notes of $2.5 million - .74%

2011 Interest on Safety Center Notes of $2 million - .64%

2012 Interest on SC & 800 Communications Notes of $5.5

million - .49%

2012 County will pay $26,840 interest to rent $5.5 Million


Geauga County Financials

As the Auditor I concur with Moody’s ranking and feel the

county is Financially very sound.


Geauga County’s Largest Private Employers

Kraftmaid, Inc. Manufacturer 1078

University Hospital Health Systems Hospital 840

Home Depot Retailer 951

Great Lakes Cheese Manufacturer 578

Dillen Products Manufacturer 423

Health Hill Inc. Healthcare Provider 320

Hexpol Compounding Manufacturer 225

Mercury Plastics Manufacturer 214

Bicron/Saint-Gobain Crystals Manufacturer 197

Kinetico Inc. Manufacturer 187

Gold Key Processing Manufacturer 176

Flambeau, Inc. Manufacturer 142

Mar-Bal, Inc. Manufacturer 135

Manufacturing Employment in Ohio up 2.76% from 2011


Northeast Ohio Manufacturing up 2.41% from 2011


Construction Employment in Ohio up 2.10% from 2011


Private Sector Employment in Ohio up 1.98% from 2011


Northeast Ohio Private Sector Employment up 2.00% from 2011



7.0

7.5

6.4

5.7 5.5

6.1

5.7

5.3 5.2

4.7

5.5 5.7

8.6 8.5

7.8

7.3

5.9

7.4 7.4

6.8

6.5 6.3

6.5 6.6

8.8

8.7

8.4

7.7 7.9

8.4

8.6

8.2

7.6 7.5

7.4 7.6

4.5

5.5

6.5

7.5

8.5

9.5

2012 Unemployment Comparison Geauga

Ohio

National

Surrounding Counties



Geauga County Government Yearly Payments for Unemployment

Living in Geauga County


Food COSTS are forever rising But we are fortunate in the Chardon area to have

Giant Eagle Heinen’s Marc’s Aldi Wal-Mart

Living in Geauga County


2008 2011 2012

Loaf of Bread $1.68 $1.98 $2.49

12 Pk of Water $1.90 $2.63 $2.68

Lb of Tomatoes $0.68 $1.59 $1.99

Lb of Bacon $2.96 $3.98 $4.48

Gallon of Gas $3.39 $3.89 $3.91


Gas Costs Across the Country

February GF Expenses Comparison


Percent of Decrease from 2010 7.30% Percent of Decrease from 2011 10.27% Up from last year 7.28%

Expenses through February used for comparison

General Fund Expenditures


Up over $1.9 Million

General Fund Carryover up 10.48% for 2013


General Fund Revenue Analysis


Up over $1.5 million

February GF Revenue Comparison


Percent of Increase from 2010 8.49% Percent of Increase from 2011 3.45% Up from last Year 3.32%

Revenue through February used for comparison

Investment Revenue down 22.45%


$2,359,982.05 $2,465,582.91

$1,541,235.86

$1,095,250.13

$744,290.04

$577,209.00

$1,463,925.00

4.47%

-37.49%

-28.94%

-32.04%

-22.45%

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

2007 2008 2009 2010 2011 2012

Investment Revenue

Revenue

Average

Based on an estimated $26.5 million invested and $27 million in interest bearing accounts


Young Adult Savings

Local Government Fund


$1,215,743 $1,196,847

$1,026,531

$1,041,188 $1,039,772

$741,497

$555,463 $566,799

$1,043,596

$0

$250,000

$500,000

$750,000

$1,000,000

$1,250,000

$1,500,000

2007 2008 2009 2010 2011 2012 Certified2013

2013Estimate

Revenue

Average

Property Transfers up 5.27 %


4,508

4,077

3,238 3,159

2,994

3,267

3,439 3,526

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2006 2007 2008 2009 2010 2011 2012

Number of Parcels

TOTAL

Average

Inmate Housing Revenue


Sales Tax Revenue up 5.69%


$10,575,693

$10,828,729

$11,558,034 $11,571,609

$10,473,880 $10,436,836

$11,065,580

$11,695,305

$11,025,708

9,500,000

10,000,000

10,500,000

11,000,000

11,500,000

12,000,000

2005 2006 2007 2008 2009 2010 2011 2012

Sales Tax Revenue

Average

March Sales Tax Comparison


Revenue through March used for comparison

Casino Revenue


2012 $243,806.00 2013 $215,874.70

Property Taxes Revenue


Property Taxes


General Fund vs. All Funds


5.81% 5.81%

Low Housing Market Inventory


New Construction


New Homes Built in Geauga


Geauga County Appraisal Department

Board of Revision


Geauga County Foreclosures


Source: Geauga County Common Pleas Court average around 350 for past 11 years

A story of Two men named Johnson one made money for his company and one is losing money for his company This story is important because history repeats itself and everyone in this room wants to make Geauga an even better place to live and raise a family and until you know the history we can ‘t change what we are doing. A story of : 1. Listening to people 2. Have respect for those who came before us…. 3. DON’T assume you have all the answers 4. be ready to be humbled by smarter people than you and I


Johnson vs. Johnson


CEO of H J Heinz CEO of JC Penney


William R. Johnson is Chairman, President and Chief Executive Officer of the H. J. Heinz Company, a global food company with sales approaching $12 billion and iconic brands, businesses and operations across six continents. Under Mr. Johnson’s leadership, Heinz has accelerated its growth in Emerging Markets and transformed its global portfolio of high-quality brands to focus on three core categories: Ketchup & Sauces, Meals & Snacks, and Infant/Nutrition Mr. Johnson earned his undergraduate degree from UCLA and his MBA from the University of Texas. He and his wife, Susie, have a son, Brad, and a daughter, Tracy.

HJ Heinz Success


Company Stock is at $72.02

Boosted Sales to 11.7 billion in 2012, 8.8% over previous year

Company purchased for $28 Billion by Buffet & 3G capital

CEO Heinz due $212.6 million for a job well done he is very well respected in his field

Ron Johnson took over JC Penny Johnson previously ran Apple's retail operations and is credited with pioneering the highly successful Apple Stores. He has also alienated much of Penney's core customer base by eliminating coupons and sales, bringing the more than 100-year-old retailer to a precarious position . He has lost 400 million for Bill Akman the board member who supports him for now. Penney's board is losing patience with Johnson's leadership and is considering either selling JC Penney ,replacing Johnson, or chapter 11 if it can't reverse a steep decline in sales within the year. According to Wall Street Journal.


JC Penney Failure


Company Stock is at $17.90 43,000 less employees in 2012 closed 11 stores

Annual Revenue down 25% Bill Akman the board member who is sponsoring

Ron Johnson has lost 400 million

In Geauga County we are doing better now than the last two years and better than our neighbors. Our Elected officials are all doing their best to contain spending. We need to improve our growth with new companies and assisting current companies to do better reduce some hurdles. WE need to listen to what companies are telling us on how they can be better. This does not mean we should start looking for issues that are not there. The County is in very good hands we just need to listen and pay attention and help out where we can.


Why is this important because I looked under the rocks in Geauga county and can find only a few slugs left


Economy needs to

improve

Housing Market is

turning around

Job Market we need

more talent

Health Care Biggest

issue out there

What is new and what are we working on for 2013…


New Challenges for 2013


Sheriff Video Access to Public Provided Cameras

Chardon Municipal Court Documentation Scanning and Management (Integration with Court View)

County-wide Documentation Scanning and Management

New Challenges for 2013


WWW Geauga Site Facelift

2013 Pictometry Flight

New World Systems-Business Analytics

New World Systems- ESuite

A quote from Voltaire: No age or time, no position or circumstance, has a monopoly on SUCCESS. Any age is the right age to start DOING!!!! Let’s work together and make Geauga County Better!! Questions????


auditor frank j. gliha€¦ · the company ranks the creditworthiness of borrowers using a...

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