Jefferson City Revenue Forecast Staff Analysis. Accuracy in Estimates Important to Make Best Use of Tax Payer Money.

Slides:

Advertisements

Similar presentations

The Missouri Economy: In Transition or Decline? David M. Mitchell Associate Professor –Dept. of Economics Director—Bureau of Economic Research and the.

Advertisements

January 2010 Chuck Essigs – Arizona Association of School Business Officials Changes to the Classroom Site Fund (Prop 301) Budget Impact for FY 2011.

Budget & Economic Forecast NOVEMBER 2013 MINNESOTA MANAGEMENT & BUDGET MMB.STATE.MN.US December 5, 2013.

Taxes and You  DO NOW Seven Minutes  Grapple: Why should we pay taxes and how much should we pay?  Essential --- What benefits do we receive from paying.

A FUNDING ANOMOLY DR. JACK A. PARTON

August 27, Our sacred obligation….managing our taxpayers’ money as if it were our own.

1. 2 Valuation Growth – Will most likely show little to no growth again in 2010 affecting the 2011 mill levy rate. Retail Sales – Sales tax collections.

Texas Taxpayers and Research Association February (512) The Fiscal View From Texas Dale Craymer Texas Taxpayers and Research.

TAXES CHANGE BEHAVIOR. 1.PAY FOR THE COST OF GOVERNING WHAT ARE THE FUNCTIONS OF TAXATION?

CHAPTER TWELVE TAX AND SPENDING. Copyright © Houghton Mifflin Company. All rights reserved.12 | 2 The Principles of Finance Interdependence Diversity.

California Budget Sandra M. Emerson. California Budget Prospects General Fund in the red for next five years.

The Budgeting Process Dr. Steven M. Hays Bishop Kearney High School Introduction to Business Freshman Seminar.

When you have completed your study of this chapter, you will be able to C H A P T E R C H E C K L I S T Describe the patterns and changes in what goods.

Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 11 Fiscal Policy.

What is the proposed ballot issue? Referred measure 3B: Increased funding for education in School District 51 only Shall taxes on peoples’ property (house,

STATE REVENUE Where do we get the money from and how do we spend it?

Lesson 5.3 Sales and Hidden Taxes February 28, 2011Copyright © … REMTECH, inc … All Rights Reserved1 Introduction Most people know how much they.

State Shared Revenues and Future Budget Projections March 3, 2009.

PBIM SUMMIT August 29, TODAYS INFORMATION  State Budget Highlights  Peralta’s Final Budget  Funding Sources  Unrestricted General Fund.

Michigan Association of Counties Traverse City, September 19 th, 2011.

TAXES: The main source of government revenue The Economics of Taxation  In addition to creating revenue for the government, taxes also impact the economy.

Taxes:  Money paid to the government from the people.  Taxes pay for government services for us, including:  Schools  Police  Social services (welfare)

Describe the difference between selective and general sales taxes.

Perspective on Colorado’s Economy and State Budget Office of State Planning and Budgeting Laura Blomquist Economist June 5, 2015.

Total U.S. Federal Lands. Total Percentage of Federal Land Ownership.

Section Outline 1 of 7 Government’s Role In Our Economy Section 3: Managing the Economy I.The Nation’s Economic Health II.The Federal Budget III.Federal.

TAXES: The main source of government revenue …nothing is certain, but death and taxes. B. Franklin …nothing is certain, but death and taxes. B. Franklin.

Annual Revenue Survey February 12, In preparation for the 2014 City Budget.

ISER The Effects of State Revenue Options on Alaska Households Institute of Social and Economic Research University of Alaska Anchorage January 27, 2004.

JASON SCHROCK ECONOMIST COLORADO LEGISLATIVE COUNCIL DECEMBER 7, The Economy and the State Budget: Tough Times.

Entrepreneurship: Ideas in Action 5e © 2011 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.

Fiscal Year Budgetary Update Report to the Cottonwood City Council – February 17, 2009.

State and Local Government Budgets Chapter 14 Section 3 and Chapter 25 Section 2.

The Prospects for Increasing State Support for Higher Education Forum on Financing Public Higher Education CAPE, PROFS, UFAS February 23, 2010 Andrew Reschovsky.

Initiative 601: Experience and Context Presentation to the House Finance Committee by the Office of Financial Management Victor Moore, Director Irv Lefberg,

Financial Update January Total General Fund Revenues Total Revenues in FY11 are running about $2.2M higher than budgeted Total Revenues in FY11.

Budget Planning Update New Hanover County Schools Board Work Session December 16, 2014.

2.4 CIRCULAR FLOWS Circular flow model

LD 1: Tax Reform For Maine? _________________________________________ Darcy Rollins, Policy Analyst New England Public Policy Center Presentation to the.

Government Debt vs. Deficit

AASBO March Bi-Monthly Membership Meeting Dr. Chuck Essigs.

Fiscal Policy: Fixing an Economy’s Health What is Fiscal Policy? The use of Government policies in order to stabilize the Business Cycle.

Fiscal Policy How the government collects and spends money to meet broad economic goals.

1990’s: State enjoyed huge economic growth and diversification Total gross state product increased by 98% from High-tech industry growth. Population.

Revenue Survey. Probable Trends 2 Valuation Growth – Will show slow growth again in 2011 affecting the 2012 mill levy rate. Sales Taxes – Since.

 Net economic change in the incomes of host residents that results from spending attributed to an event, attraction, or facility  Aimed to assure.

Legislative Analyst’s Office Presented to: November 19, 2015 California Association of School Business Officials, CBO Symposium 0.

Fiscal Policy: Fixing an Economy’s Health Points to Remember  Prior to the Great Depression (1930’s) economists believed that the best way to stabilize.

USE TAX Business Development Police Officers Safety Resources April 5, 2016 Vehicle Sales Tax Renewal & Use Tax 2016.

THE WHO, WHAT, WHY, AND HOW OF GOVERNMENT SPENDING Executive and the Economy.

Charting a Course: Steering a Nonprofit Through Challenging Times January 21, 2009 Jon Pratt Minnesota Council of Nonprofits.

NC State and Local Government Budgets Chapter 14 Section 3 and Chapter 25 Section 2.

Business Math 2.6 Budgets. Start Up Think of an organization that you participate. What types of income and expenses are typical of that club? What are.

Overall objective -- to estimate the economic impact of the Medicaid program on Alaska’s economy. More specifically, the report will: 1.provide a brief.

East Lansing Public Schools Financial Strategies Past, Present and Future.

September  The net impact of $1.00 spent in the local economy is not necessarily $1.00.  For example, $10.00 spent at a restaurant may go 50%

1 Overview of Mineral Taxes in Colorado State Severance Tax and Federal Mineral Lease Revenue House and Senate Finance Committees Marc Carey and Jason.

Class Presentation Sources of State Revenue. Georgia Performance Standard SS8E4  The student will identify revenue sources for and services provided.

How do you feel about state government in Madison? Statewide June 2010 Content34% Frustrated45% Angry16% City of Milwaukee June 2010 Content37% Frustrated42%

Fiscal Policy and Taxes Test Review Ch. 14 and 15.

Year-End FY Financial Review October 28, 2009.

FINANCIAL RESOURCES MANAGEMENT

Monetary Policy Tools Describe how the Federal Reserve uses the tools of monetary policy to promote price stability, full employment, and economic growth.

Public Policy in Texas Chapter 12. TRENDS IN TEXAS STATE EXPENDITURES— ALL FUNDS, BY BIENNIAL BUDGET PERIODS 1994–2015 (IN MILLIONS OF DOLLARS) Copyright.

Legislative Analyst’s Office Presented to: April 14, 2016 California Association of School Business Officers.

Public Hearing: Fiscal Year 2017 Recommended Operating Budget City Council Meeting, May 9, 2016 Item 7.

2015 Local Sales Tax Distribution Changes 1. Fall 2015 Understanding of New Distribution Plan  Sales Tax Base Expansion to Services: Expected to yield.

The Economics of Taxation

BUDGET ACCURACY 2005 Budget vs Actual – All Hotels (Percent Change From 2004 – 2005) Note: * - Before deducting capital reserves, rent, interest, income.

Presentation transcript:

Jefferson City Revenue Forecast Staff Analysis

Accuracy in Estimates Important to Make Best Use of Tax Payer Money

Reserve Funds Continue to Grow As A Percentage In Absolute Dollars

Forecast Sales Tax to be Up 5%

Conservatively Projecting No Growth in Property Tax

State Employee Pay Raise Expected to pump $6 to $10 Million into local economy Multiplier effect will easily make that an economic impact of $18 million Sales tax impact would be an additional $500,000 income, conservatively.

Actual Revenue Has Exceeded Budgeted Amount for Last 10 Years