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Hernando Today

Revenue Shortfalls Projected

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By MICHAEL D. BATES

Hernando Today

Published: January 3, 2009

BROOKSVILLE - An analysis by the county's budget office shows Hernando County's general fund will experience about $1.6 million in projected revenue shortfalls over what was budgeted for fiscal year 2009.

The shortfall is based on recent state projections regarding sales tax and revenue sharing, along with a decrease in the earnings-market value of investments.
Budget Director George Zoettlein said the county property appraiser's office is projecting a possible $3 million property tax reduction as the county begins its fiscal year 2010 budget cycle.

That is in addition to the $1 million reduction in sales tax and other revenue sources.

Zoettlein stressed these are early projections and could change as his department starts developing a budget over the summer.

The findings will be discussed at Tuesday's county commission meeting, which begins at 9 a.m. at the Hernando County Government Center, 20 North Main St. in downtown Brooksville.

The Hernando County Utilities' department projections, the transportation trust fund - along with various gas tax funds - are more in line with respective budgets, according to a Zoettlein memo.

But the projected revenue for the tourist development department is $184,000 lower than budgeted revenues. And, to make matters worse, the county has been notified that the third distribution of State Housing Initiative Partnership (SHIP) funding is being withheld until after the legislature meets this month. That could mean future revenue losses to the SHIP program.

Impact fee revenues are projected to be down $1.7 million from budgeted amounts and "show no immediate signs of recovery," according to Zoettlein.

The decline in the building industry has led to huge losses of money in the Development Services department. The difference between projected and budgeted revenue in that department is an estimated $917,000.

That department has assembled a management team to examine cost reductions.

Over at Solid Waste and recycling, the effects of the poor economy are also showing. Projected revenue is expected to come up $1.9 million short thanks to a sharp downturn in landfill charges and low tonnage at the landfill. The sale of recyclables is off by more than 50 percent.

As a result of these projections, the budget office plans to advise all department managers and constitutional officers to review their expenses.

Zoettlein will bring a budget resolution back to county commissioners in February asking them to approve an adjusted 2009 fiscal year budget.

Reporter Michael D. Bates can be reached at 352-544-5290 or mbates@hernandotoday.com.

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