Commissioner of the Revenue - Compensation Board

MONTGOMERY COUNTY, VIRGINIA Commissioner of the Revenue Compensation Board

VOTERS

Commissioner of the Revenue

Compensation Board

Budget Summary

EXPENDITURES BY DEPARTMENT

Change FY 20 FY 20 FY 21 FY 22 FY 22 FY 22 App. 22/ Revised Actual Approved Base + Addenda = Approved App. 21

Commissioner of the Revenue $608,451 $590,903 $561,856 $604,072

TOTAL EXPENDITURES $608,451 $590,903 $561,856 $604,072

$604,072 $42,216

$604,072 $42,216

EXPENDITURES BY CLASSIFICATION

Personal Services

Operations & Maintenance

Capital Outlay

TOTAL EXPENDITURES

$603,376 $587,372 $556,781 $598,997 $5,075 $3,531 $5,075 $- $- $- $5,075 $-

$608,451 $590,903 $561,856 $604,072

$598,997 $42,216 $5,075 $- $- $-

$604,072 $42,216

REVENUE BY CLASSIFICATION

State Shared Expenses

$222,504 $221,324 $222,504 $235,505 $5,119

TOTAL DESIGNATED REVENUE $222,504 $221,324 $222,504 $235,505 $5,119

$240,624 $18,120

$240,624 $18,120

TOTAL UNDESIGNATED REVENUE $385,947 $369,579 $339,352 $368,567 $(5,119) $363,448 $24,096

TOTAL REVENUES $608,451 $590,903 $561,856 $604,072 $- $604,072 $42,216

About

The Commissioner of the Revenue is an elected Constitutional Officer responsible for assessing the fair market value of all property, personal and business, subject to taxation and maintaining real estate ownership records. This division accounts for the costs shared between the County and the State Compensation Board.

Commissioner of the Revenue

The Commissioner of the Revenue Division assesses all tangible personal property in accordance with the Code of Virginia, verifies personal property data filed by taxpayers, calculates assessments and taxes, and issues the personal property tax book annually. It also assists taxpayers with filing state income tax returns.

Highlights

• In 2020, more than 2,000 Virginia individual Income Tax returns and just under 1,000 estimated tax declarations were received.

Personnel

DEPARTMENT

Commissioner of the Revenue

TOTAL FY 21 Approved FTE

8

8 FY 22 Approved FTE

8

8 Change

0 0

Base Budget Discussion

The base budget is the estimated minimum cost for providing continued services/operations for each division/ department. It is based on the prior year approved budget with adjustments. This budget shows how much it would cost in the next fiscal year to operate the same programs in the current fiscal year.

• Base Salary and Fringe Benefit Adjustments – The FY 21 approved budget included a 3% compensation increase in Special Contingencies. These funds were distributed to County divisions off cycle during the budget year. In addition to the 3% compensation increase added to the base budget, the budget also includes an increase in the unemployment insurance rate from 0.23% to 0.53%. All other fringe benefits rates remain unchanged. Funding is also included to cover a 3% compensation increase, effective

July 1, 2021. • Base Compensation Board Revenue Adjustments – A total of $13,001 is added to the base

Compensation Board revenue budget. These funds account for the adjustment of revenues as reported by the State Compensation Board reconciled to the FY 21 County approved budget. Each year, Compensation

Board funding is reconciled to the County approved budget when final numbers are received from the state. The increase in revenue for FY 21 is due to the County meeting the 100,000 population threshold based on population estimates provided by the Weldon Cooper Center for Public Service and then adjusted for staff turnover.

Addenda & Reductions Discussion

Addenda consist of dollars over and above the base budget target for operating and capital outlay expenses. Approved addenda items are often funding provided for new initiatives or expanded services but may also include normal cost increases. Addenda reductions may reflect reduced revenue and/or expense needed to equalize revenue shortfalls.

• $5,119 is Added to the Commissioner of the Revenue’s Compensation Board Revenue –

These funds account for a 5% across the board salary increase included in the state’s budget for locally supported positions July 1, 2021. Since the County provided more than a 5% compensation increase to all

County funded positions over the biennium, these funds provide additional revenue to the County. Each year, Compensation Board revenue is reconciled to the County approved budget when final numbers are received from the state.