june 2011 revenue estimate presentation
TRANSCRIPT
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District of Columbia
Revised Revenue Estimates
June 2011
1350 Pennsylvania Avenue, NWSuite 203
Washington, DC 20004(202) 727-2476www.cfo.dc.gov
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District of ColumbiaSummary of June 2011 Forecast
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Actual
Local Source, General Fund Revenue
Estimate ($ millions) FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
February 2011 Revenue Estimate 5,069.4 5,352.5 5,593.9 5,726.5 5,839.4
Change from prior forecast 107.1 77.2 79.0 101.1 127.4
June 2011 Revenue Estimate 5,076.4 5,176.5 5,429.7 5,672.8 5,827.5 5,966.8
Percent growth over previous year 0.5% 2.0% 4.9% 4.5% 2.7% 2.4%
Estimate Projected
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District of ColumbiaList of Contingency Spending FY 2012
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NEXT REVENUE ESTIMATE: SEPTEMBER 2011
($ in millions)
Additional Revenue Available 77.2$
Move Capital FTEs to Operating Budget 21.6
Subtotal 55.6$
50% to Fund balance restoration 27.8$
Other uses 27.8$
Authorized Funded
Balance
Funded/
(Unfunded)
Additional
Revenue Needed
to Fully Fund*
DSLBD for Green Teams/Clean Teams 1.8$ 1.8$ 26.0$ -$
Additional cost of public health care program (MCO contracts) 32.0$ 26.0$ (6.0)$ (12.0)$
Other contingent spending included in BSA 59.6$ -$ (65.6)$ (131.2)$
* Includes required deposit of 50% of any additional revenue to Fund Balance restoration.
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District of ColumbiaChanges from February Estimate
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Feb. 2011 June 2011 Change Feb. 2011 June 2011 Change
Increases from February estimate:
Real property tax 1,630.0$ 1,705.8$ 75.7$ 1,779.9$ 1,854.0$ 74.1$
Individual Income tax 1,183.3 1,215.3 32.0 1,296.8 1,298.6 1.9
Deed tax 254.0 298.7 44.7 266.0 281.9 15.9
Subtotal, increases: 3,067.3$ 3,219.8$ 152.4$ 3,342.7$ 3,434.5$ 91.9$
Less declines from February estimate:
Sales tax 921.7$ 914.6$ (7.1)$ 956.4$ 961.2$ 4.8$
Non-tax revenues 403.1 366.4 (36.7) 366.9 344.7 (22.1)
Subtotal, declines: 1,324.8 1,281.0 (43.8) 1,323.3 1,305.9 (17.3)
Other 677.3 675.8 (1.6) 686.6 689.2 2.6
Totals 5,069.4$ 5,176.5$ 107.1$ 5,352.5$ 5,429.7$ 77.2$
FY 2011 FY 2012
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District of Columbia
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Changes in Revenue Estimates
* Details may not add to totals due to rounding.
Changes Since June 2008, Local Source, General Fund Revenue Estimate
($Millions)
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014
June 2008 Budget 5,831.7 6,099.2 6,402.5 0.0 0.0
Change in Revenue Estimate Since June 2008 -1,099.8 -1,321.5 -1,432.1
Policy changes to address shortfall 344.6 398.8 459.2 448.8 179.2
June 2011 Revenue Estimate 5,076.4 5,176.5 5,429.7 5,672.9 5,827.6
Percent growth over previous year 2.0% 4.9% 4.5% 2.7%
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District of Columbia
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Spending Contingent on Additional Revenue
Cumulative
$3,040 $3,040
FY 2012 Contingent Revenue (June 2011 and September 2011 Revenue Estimates)
Cumulative
$24 $24
$3,170 $3,194
$5,655 $8,849
$314 $9,163
$144 $9,307
$828 $10,135
$198 $10,333
$126 $10,459$907 $11,366
$292 $11,658
$233 $11,891
$9,676 $21,567
Balance will be allocated as follows:
50% to the following uses (BSA): Cumulative
Department of Small and Local Business Development to fund the Commercial
Revitalization Program $1,800 50% match $1,800 $25,167
Department of Health Care Finance for MCO Contract $32,000 50% match $32,000 $89,167
Department of Health for the school nurse program $12,500 50% match $12,500 $114,167
Metropolitan Police Department to increase the number of sworn police officers $10,800 50% match $10,800 $135,767
Department of Human Services for the Housing First Program $1,600 50% match $1,600 $138,967
District of Columbia Housing Authority to reduce the transfer of f unds from the
Housing Production Trust Fund to the Rent Supplement Fund $12,000 50% match $12,000 $162,967
Department of Mental Health - various uses $5,000 50% match $5,000 $172,967
Department of Human Services for the Interim Disability Program $3,000 50% match $3,000 $178,967
Housing Production Trust Fund $6,000 50% match $6,000 $190,967
Child and Family Services Agency for the childrens mental health program $900 50% match $900 $192,767
Department of Human Services for homeless services $2,500 50% match $2,500 $197,767
Office of the Mayor for the celebration of the 150th Anniversary of Emancipation
Day, April 11, 2012 $508 50% match $508 $198,783
Commission on the Arts and Humanities for improvements for the Lincoln
Theater $500 50% match $500 $199,783
District of Columbia Public Library to keep Martin Luther King, Jr. Memorial
Library open on Sundays $316 50% match $316 $200,415
District of Columbia Public Library to acquire books $1,438 50% match $1,438 $203,291
Office of the State Superintendent of Education for early childhood education $2,000 50% match $2,000 $207,291
Department of Health for clinical nutritional home del ivery services $500 50% match $500 $208,291
University of the District of Columbia
District of Columbia Publi c Library
Department of Transportation
of the District's General Fund B alance
Office of Planning
Department of Housing and Community Development
Department of Consumer and Regulatory Affairs
Commission on Arts and Humanities
Metropolitan Police DepartmentDepartment of Corrections
FY12 Budget Support Emergency Act
Delay application of parking tax increase until October 1, 2011
Capital FTE Shift (BRA):
Office of Finance and Resource Management
Office of the Chief Technology Officer
Department of General Services