2014 Annual Financial Report

SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

12/31/2014

FINANCIAL REPORT A financial summary of 2014

SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

SHAWNEE COUNTY ANNUAL FINANCIAL REPORT 2014

INTRODUCTION The following financial report provides an analysis of the 12 months of the 2014 calendar year. The information contained in this report is based on unaudited budgetary financial statements and excludes adjustments that may be required by the County’s auditors at a later date.

This report provides a summary of revenues and expenditures of the County for the calendar year of 2014.

Comparative analysis will also be provided for the major revenue and expenditure categories including comparisons to budgeted and prior year amounts for the same time period.

REVENUE HIGHLIGHTS This section will show revenues received by the County during 2014. These revenues will be compared to the budgeted amount for the same time period and the amount received during the prior year for the same time period.

The Shawnee County General Fund received total revenue and transfers in of $105,156,628 during 2014.

This represents 6.03% over the budgeted amount for this period.

Total Revenue $120,000,000 Other Revenue

$100,000,000 $80,000,000

Other Taxes

$60,000,000

Special Assessments

$40,000,000

Property Taxes

$20,000,000 $2014 $ 105,156,628

BUDGET $99,180,777

2013 $98,116,082

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SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

Property Taxes (Ad Valorem Taxes) Property (Ad Valorem) Tax is the largest single revenue source available to Kansas Counties.

This revenue is derived from taxes levied on real property, personal property and state assessed property. The Shawnee County Appraiser’s office values real and personal property and the State of Kansas assigns values to state assessed property such as utilities. Property Taxes represented approximately 70% of the County’s revenue in 2014.

The largest portion of Ad Valorem taxes are received in January and June when real estate taxes are distributed to the taxing authorities.

$80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $-

2014 BUDGET 2013 Property Taxes $73,430,245 $71,763,077 $66,020,406

Special Assessments Special Assessments are amounts assessed on real property for special projects that benefit the neighborhood. Projects that might result in special assessments include sewer and water system improvements, installation or improvements to roads and sidewalks and installation of public utilities.

Special assessments are most common on new land developments.

Other Taxes Other taxes include the following: • • • • • • •

Motor Vehicle Tax RV Tax Local Alcohol Liquor Tax Highway Tax Franchise Tax 1620 Truck Tax Other Misc. Taxes

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SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

Other Revenue Other revenue includes the following: •

•

•

Property Related Fees such as Mortgage Registration Tax, Register of Deeds filing fees, Zoning Fees, Planning Fees Charges for Services including Parks and Recreation fees, Detention Facility Care of Prisoner fees, Sheriff process fees, County Officer Fees and other miscellaneous fees Miscellaneous other revenue

EXPENDITURE HIGHLIGHTS 2014 expenditures and transfers out for the Shawnee County General Fund totaled $92,606,939, which is 3.72% under budget for the calendar year. The expenditures are also $4,670,360 or 4.80% less than the expenditures for the prior year.

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SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

The following information shows Shawnee County expenditures by category.

CATEGORY General government $ Public safety and judicial Public works, highways and streets Health, welfare and education Culture and recreation Debt service Total Expenditures $

2014 13,782,862 40,318,215 7,379,334 9,475,656 12,956,407 8,694,465 92,606,939

BUDGET $

$

13,509,158 40,632,746 7,137,231 9,351,975 15,210,637 10,339,030 96,180,777

2013 $

$

15,225,428 39,666,500 7,700,004 10,707,095 13,873,106 10,105,166 97,277,299

This pie chart displays the expenditure categories based on their percentage of total County Expenditures

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SHAWNEE COUNTY ANNUAL FINANCIAL REPORT

GENERAL FUND BALANCE The General Fund is the primary operating fund of the County. It accounts for the financial resources of the general government, except those required to be accounted for separately. The General Fund is also used to account for payments made for principal and interest on general long-term debt of the County.

The General Fund Balance represents the unencumbered balance of general operating funds on a budgetary basis.

Bond rating services generally recommend a general fund balance of 18-20% of budgeted expenditures to present a healthy level of reserves. It is the goal of the Board of County Commissioners to steadily increase this balance to the recommended level.

This chart shows the General Fund Balance at the end of years 2003-2014 and the estimate for the end of 2015. The recommended level is shown as 19% of expenditures.

General Fund Balance 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0

2003

2004

2005

2006

2007

2008

General Fund Balance

2009

2010

2011

2012

2013

2014

Est 2015

Goal of 19% of Budget

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