General Fund Property Tax Revenue Description Amount FY2019 - PowerPoint PPT Presentation

General Fund Property Tax Revenue Description Amount FY2019 Property Tax Budget $34,813,959 Property Tax collected for new construction +13,699 in excess of $570,000 budgeted FY2019 Property Tax for New Construction +580,000 Shift to IMRF Fund -821,505 Shift to Insurance Liability Fund -388,631 Shift to FICA Fund -312,094 Proposed Property Tax Levy for FY2020 33,885,428 Average Property Tax Uncollectable (0.4%) -135,542 2020 General Fund Property Tax Budget $33,749,886 Change from 2019 Budget -924,818

Sales Tax Revenue Description Amount 2019 Forecasted Sales Tax Revenue $16,194,000 Addback one time adjustment +22,759 Adjusted 2019 Forecast 16,216,759 2% Increase Forecasted for 2020 +324,335 Rounding adjustment -94 2020 Sales Tax Revenue Budget $16,541,000 2019 Sales Tax Revenue Budget 17,170,000 Change from 2019 Budget -629,000

RTA Sales Tax Revenue Description Amount $547,208 2019 Forecasted RTA Sales Tax revenue +10,944 2% Increase Forecasted for 2020 558,152 2020 Forecasted RTA Sales Tax revenue -8,372 Less 1.5% Administrative Fee +220 Rounding $550,000 2020 RTA Sales Tax Revenue Budget 2019 RTA Sales Tax Revenue Budget 548,000 Change from 2019 Budget +2,000

State Income Tax Revenue Description Amount 2019 Forecasted State Income Tax revenue $5,875,000 based on Illinois Municipal League Forecast +55,000 Increase per Illinois Municipal League forecast $5,930,000 2020 State Income Tax Revenue Budget 2019 State Income Tax Revenue Budget 5,650,000 Change from 2019 Budget -280,000

Local Use Tax Revenue Description Amount 2019 Local Use Tax Revenue Forecast based $1,890,000 on Illinois Municipal League Forecast +80,000 Increase per Illinois Municipal League forecast $1,970,000 2020 Local Use Tax Revenue Budget 2019 Local Use Tax Revenue Budget 1,750,000 Change from 2019 Budget +220,000

Personal Property Replacement Tax Revenue Description Amount 2019 Personal Property Replacement Tax Revenue Forecast based on Illinois Municipal League Forecast $1,400,000 Increase per Illinois Municipal League forecast +25,000 2020 Personal Property Replacement Tax Revenue Budget $1,425,000 2019 Personal Property Replacement Tax Revenue Budget 1,340,000 Change from 2019 Budget +85,000

Contingent Transfer to Capital  In order to avoid operations being dependent upon the collection of the full amount of Sales Tax, Local Use Tax, Income Tax and Personal Property Replacement Tax, $500,000 of this budgeted revenue will be transferred to the Capital Fund at the end of the year contingent upon the collection of the full budgeted amount of these combined revenue streams.  To the degree that the total revenue collected from these revenue streams will be less than what had been budgeted in total for these revenue streams, the $500,000 transfer will be reduced accordingly.

Miscellaneous General Fund Revenue Description Amount TIF Distribution Tax (County’s portion of Tax Increment Financing Property Tax; budget based $10,000 on lowest recent collection) Off Track Wagering Fees based on last 12 50,000 months Indemnity Fees (Fees collected from tax sale; 45,000 budget based on 5 year average) Forest Preserve Reimbursement ($50,000 to cover mail room & IT support; $5,000 postage; 65,225 $10,225 for New World licenses) Investment Income (2.1% X average General 1,087,000 Fund cash balance of $51,782,500)

Miscellaneous General Fund Revenue Description Amount Rental Income $0 Moved to Building Management Budget Auction Sales (Auctions of County vehicles to be 5,000 replaced; based on average of previous years) 24,558 Cell Tower Lease (Fabyan Parkway cell tower site) Transfer s: rent for Children’s Waiting Room ($12,000); reimbursement from Mill Creek for 14,400 vehicle usage ($2,400) Transfer from Special Reserve for Biennial Election 297,000 TBD Transfer from Property Tax Freeze Protection

Kane County, Illinois 2020 General Fund General Revenue Proposed Budget Summary Change from 2019 Forecast Proposed 2020 2019 Budget to Revenue 2018 Actual 2019 Budget as of 6-25-19 Budget 2020 Budget Property Taxes 34,674,704 34,688,348 33,749,886 $ 33,964,274.67 (924,818) Sales Tax 17,170,000 16,194,000 16,541,000 $ 16,929,250.55 (629,000) Sales Tax- RTA $ 547,086.19 548,000 539,000 550,000 2,000 Income Tax $ 5,766,266.49 5,650,000 5,875,000 5,930,000 280,000 Local Use Tax $ 1,716,222.13 1,750,000 1,890,000 1,970,000 220,000 Personal Property ReplaceTax $ 1,507,707.57 1,340,000 1,400,000 1,425,000 85,000 TIF Distribution Tax $ 43,498.17 10,000 8,860 10,000 - Off Track Wagering Fees $ 25,815.42 36,000 50,000 50,000 14,000 Indemnity Fees $ 47,300.00 40,000 45,000 45,000 5,000 Forest Preserve Reimbursement $ 64,132.41 64,164 64,164 65,225 1,061 Miscellaneous Reimbursement $ 8,751.02 - 8,856 - Investment Income 932,000 1,139,000 1,087,000 $ 721,636.58 155,000 Rental Income 46,847 46,847 - $ 81,846.92 (46,847) Auction Sales 5,000 5,000 5,000 $ 32,176.49 - Refunds - 13,189 $ 800.37 - Cell Tower Lease 23,998 23,998 24,558 $ 23,510.79 560 Miscellaneous Other - 2,375 $ 4,482.33 - Transfer From Other Funds 14,400 14,400 14,400 $ 503,249.00 - Transfer from Special Reserve - - 297,000 $ 297,000.00 297,000 Transfer From Property Tax Freeze 2,038,480 2,038,480 - $ 600,000.00 (2,038,480) Total $ 62,886,916.61 64,343,593 64,046,517 61,764,069 (2,579,524)