June 2011 Revenue Estimate Presentation

8/6/2019 June 2011 Revenue Estimate Presentation

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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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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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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

June 2011 Revenue Estimate Presentation

Documents

Transcript of June 2011 Revenue Estimate Presentation