The Iris City Griffin...

Great and Growing

Where an old town charm and a big city convenience combine altogether, it makes the perfect place to live, work and raise a family. Take a few moments to see all that Griffin has to offer: Relaxed Lifestyle Superior Schools & Recreational Facilities Growing Industry and Commerce

Revenue Status Report General Fund As of March 31, 2012

(Unaudited - Internal Use Only)

CITY OF GRIFFIN DEPARTMENT OF ADMINISTRATIVE SERVICES - FINANCE

100 South Hill Street Griffin, Georgia 30223 Phone: 770.229.6401 Fax: 678.692.0402

Markus Schwab, CPA.CITP Chief Financial Officer Chuck Olmsted Accounting Manager

Page 1 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

Table of Contents

I. II. III. IV. V.

Current Economics Unemployment Numbers

General Fund Revenue Sources Revenues by Category

3 8 9 10 11 11 12, 13 14 15 16 17 18, 19

Revenues Taxes Property Taxes Licenses and Permits Intergovernmental Charges for Services Fines and Forfeitures Other Revenues

Page 2 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

I. Current Economics

Property Tax Digest Collections History

Beige Book - April 11, 2012

Sixth District--Atlanta Reports from Sixth District business contacts indicated that the pace of economic activity expanded at a moderate pace in late February through March. Expectations remained generally positive across most sectors, although contacts expressed concern regarding the impact of higher energy prices on the outlook. Retailers mostly indicated sales were growing at a modest pace and auto sales remained strong. Leisure and hospitality businesses reported robust activity in all segments except cruise lines. Homebuilders and brokers experienced improvements in sales of new and existing homes while multifamily construction remained strong. General contractors noted slow improvements in commercial construction conditions. Manufacturers and transportation contacts reported positive production trends, on balance. Loan demand remained relatively weak according to community bank contacts. The share of firms reporting they were hiring continued to increase, although many contacts continued to express a preference for part-time or temporary contract workers. Most contacts continued to report having relatively little pricing power. However, the proportion of firms saying they were successful in their attempts to pass on price increases rose since the last report. Consumer Spending and Tourism Most contact reports on consumer spending were generally positive. Sales of home appliances, furniture, and autos were solid, while apparel was more mixed. Most retailers remained optimistic that sales would improve over the next three months, but noted that the impact of higher gasoline prices posed a downside risk to their sales outlook. Tourism activity remained strong and contacts were optimistic about the outlook for leisure and hospitality spending in the summer. Occupancy rates were up in many areas and South Florida continued to be boosted by visitors from South America and Canada. Convention activity continued to improve as well. Similar to retail, tourism contacts expressed concern about higher fuel costs and the potential impact on domestic travel to many regional tourist destinations. There continued to be a modest drop off in bookings on some cruise lines, which was attributed mostly to the recent disaster off the coast of Italy. Real Estate and Construction The majority of residential broker contacts reported that home sales exceeded the year earlier level in late February and March. More than two-thirds of the brokers indicated that sales met or exceeded their expectations. Florida contacts noted strengthening sales, particularly in South Florida markets. Many noted that inventory levels across the District continued to decline on a year-over-year basis and, in spite of this, home prices were flat to slightly down compared with a year ago. The outlook among brokers for sales growth remained positive, with most anticipating modest year-over-year gains over the next several months. The majority of homebuilder contacts reported that new home sales and construction rose modestly during late February and March compared with a year earlier. Similar to brokers, builders also noted that home price declines abated somewhat and new home inventories continued to decline on a year-over-year basis. Contacts observed that multifamily construction remained robust across much of the District and new projects continued to be announced. Over the next several months, homebuilders anticipate sales and construction to be flat to slightly up compared with a year ago. Most commercial real estate contacts indicated that conditions continued to improve slowly in the region. Contractors noted a slight improvement in demand, but the market remained very competitive and overall activity remained at low levels. Commercial real estate brokers continued to report modest improvements in demand, mostly for class A space in urban markets. Some reported that businesses have become more willing to move ahead with lease plans. Rent concessions continued to be noted with several brokers reporting that rates have begun to stabilize; however, longer leases were reported which included generous tenant improvements. The outlook among contacts was a bit more positive than previously reported, but most contractors and commercial real estate brokers continued to anticipate that activity would improve slowly this year. Manufacturing and Transportation Manufacturing activity across the Sixth District improved compared with the last report. Most contacts reported an increased level of both new orders and production. Several large auto manufacturers announced plans to hire more workers to meet increased demand for their products. A major industrial equipment producer and two medium-sized manufacturers announced plans to increase their presence in Georgia. Most manufacturers also indicated some increase in non-labor input costs. Transportation contacts continued to report volume growth across most segments with the exception of air cargo, which is being hindered by slowing global demand and rising fuel costs. A railroad contact noted significant volume increases in automobiles, steel, and forestry products. Domestic coal shipments slowed because of the effects of warmer weather and lower natural gas prices. A port contact indicated strong container volumes and increases in steel imports. The majority of transportation contacts reported substantial investment spending in anticipation of future demand. Page 3 of 20 Banking and Finance Contacts at community banks indicated liquidity levels remained high, a result of increasing deposit balances and relatively soft loan

Manufacturing and Transportation Manufacturing activity across the Sixth District improved compared with the last report. Most contacts reported an increased level of both new orders and production. Several large auto manufacturers announced plans to hire more workers to meet increased demand for their CITY OF GRIFFIN products. A major industrial equipment producer and two medium-sized manufacturers announced plans to increase their presence in Georgia. Most manufacturers also indicatedRevenue Status Report - General Fund some increase in non-labor input costs.

As of March 31, 2012

(Unaudited Internal Use Only) Transportation contacts continued to report volume growth across-most segments with the exception of air cargo, which is being hindered by slowing global demand and rising fuel costs. A railroad contact noted significant volume increases in automobiles, steel, and forestry products. Domestic coal shipments slowed because of the effects of warmer weather and lower natural gas prices. A port contact indicated strong container volumes and increases in steel imports. The majority of transportation contacts reported substantial investment spending in anticipation of future demand.
Banking and Finance Contacts at community banks indicated liquidity levels remained high, a result of increasing deposit balances and relatively soft loan demand. Some contacts acknowledged a slight increase in demand for C&I and commercial real estate loans in some metropolitan areas, and a general rise in demand for automobile loans. In rural areas, however, low property valuations were said to be hindering overall loan activity. The demand for mortgages varied widely by market and some community bank contacts indicated that they have exited the mortgage origination market altogether. Lending standards at these institutions have remained largely unchanged. Smaller institutions noted tough competition from larger banks for credit customers. Many of these contacts expressed concern that regulatory compliance costs were affecting profit margins. Employment and Prices Overall hiring trends were positive, but growth remained relatively modest in late February and March. While business contacts noted some increased optimism about the economic outlook, most firms continued to approach expansion plans with considerable caution. Among firms adding to payrolls, many were utilizing temporary or contract hires in order to contain costs and retain flexibility. Reports indicated that smaller businesses were looking to rebuild margins before proceeding to adjust their payrolls. Several businesses, including trucking related firms, asserted that they were faced with a lack of qualified labor. One large manufacturer addressed the issue of the lack of qualified workers by bringing back retirees on a contract basis to help train new hires. Though most contacts continued to report having little pricing power, more firms recounted successful attempts or plans to pass on price increases since the last report. Increased transportation costs, including those resulting from higher gasoline and other fuel prices, were reportedly passed on to consumers without much difficulty. According to the firms surveyed in the Atlanta Fed's March Business Inflation Expectations survey, unit costs were expected to rise two percent for the year ahead, up slightly from February. According to the businesses surveyed, profit margins, though still below normal, have begun to improve. Firms expect modest improvement in margins over the next year. Natural Resources and Agriculture Investment in transportation infrastructure for oil and natural gas continued to increase; however, contacts noted that more investment is needed to accommodate recent increases in domestic and Canadian energy production. District refining contacts noted that the capacity to process the heavier grades of crude oil that are increasingly available is limited, despite recent investment in additional refinery capacity. While conditions improved in parts of the District, much of Georgia and Florida continued to experience varying degrees of drought. Contacts also reported that Florida citrus growers continued to fight greening disease. Prices paid to farmers for poultry and soybeans were up from the previous reporting period. Contacts continued to report concerns regarding available labor supplies in Georgia and Alabama, attributing this to the tougher immigration laws.

Last update: April 16, 2012

Page 4 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

Interest Rate Outlook

Panel of Economists
Banks seem to be in good shape, and the jobs picture is improving, but the Federal Reserve expects the U.S. economic recovery to remain slow. Of course, others disagree. What are your thoughts? Scott Brown, chief economist, Raymond James & Associates, said: "Banks have begun to ease credit for consumers and small businesses, which is good thing. The economy continues to recover, but the pace is still not especially strong. We continue to face a number of headwinds: continued problems in the housing sector, contractionary fiscal policy (mostly in state and local government, but barring a change in course, federal fiscal policy is set to be a significant drag in 2013), and higher gasoline prices in the near term." James Glassman, managing director and senior economist at J.P. Morgan Chase and Co., said: "I expect the economy's growth pace to gradually pick up. Nonetheless, because it will take many years of fast growth to restore the economy to a fullyemployed state, I agree with the Fed's forecast that rates are likely to remain unusually low for some time. The underemployed state of the economy implies that inflation risks remain tilted to the downside."

Lacy H. Hunt, executive vice president of Hoisington Investment Management, said: "The main problem controlling the U.S. economic conditions is extreme over-indebtedness. This problem cannot be reversed by monetary and fiscal policies that encourage and or facilitate a further increase in debt. Such policies can produce nothing more than transitory improvement in economic activity. The reason that the standard of living of has fallen back to the levels of the 1990s is the debt overhang. Moreover, in spite of increases in some measures of economic performance, real disposable personal income in per capita terms continues to stagnate. This explains why federal income tax receipts have not risen thus far in the 2012 fiscal year, in spite of reported employment gains." Christopher Mier, chief strategist and director of the Analytical Services Division of Loop Capital, said: "There are a few 'headwinds' that are of major concern to the Fed: 1. The fiscal drag that will result from the expiration of the payroll tax cut and the extension of emergency unemployment benefits. There are also about 40 tax laws that will sunset by year's end. The potential fiscal drag going into 2013 is quite large, on the order of 1 to 2% of GDP. Europe is not fully resolved, and the potential for a flare-up that raises risk assessments and paralyzes economic agents is still a major concern. Profit margins are falling and there is a risk of slowing in the improvement in the labor market.

2. 3.

Remember that it's the Fed's job to worry. I am a little more optimistic because there is an absolute boatload of cash on corporate balance sheets. The consumer, for the moment, is optimistic and spending. The housing sector is stabilizing. The chain of causality I am looking for is for continued improvement in the labor market to boost income and consumer spending, particularly in durable goods. With new home sales low, and inventories stabilizing, there is room now for a slight pick-up that would boost activity in related industries like furniture, appliances, and even autos that would create a positive, although perhaps muted, virtuous cycle.

Page 5 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

Snapshot of Economy and Interest Rates

Economic Summary Moving Averages 6-Month Treasury Bill

2-Year Treasury Note

Investment Performance Benchmarks

Annualized Returns Since Date Average Return 0.03% 0.02% 0.02% 0.03% 0.03% 7-day yield 0.05% Jan.1, 2011 0.03% 0.02% 0.02% 0.02% 0.02% 30-day yield 0.06% 03/30/2012 0.12 * * 0.23 0.09 0.18 * 4.08 0.25 Jan. 1, 2010 0.54% 0.06% 0.06% 0.06% 0.06% Maturity (Days) 46 Year Ago 0.14 0.23 0.25 0.19 0.05 0.24 0.23 5.06 0.44

The money market fund index

Jan. 1, 2011 Jan. 1, 2012 Feb. 1, 2012 Mar. 1, 2012 Apr. 1, 2012 Date 30-Mar-12

S&P Rated LGIP Index

Key Rates: Cash Markets

Rate Fed funds CDs: Three months CDs: Six months BAs: One month T-bills: 91-day yield T-bills: 52-week yield Commercial paper, dealerplaced, 3 months Bond Buyer 20-bond municipal index Tax-exempt notes

Page 6 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

Notes

Moving Averages - The four-week moving averages are calculated as a simple average of Friday closing yield quotations for the most recently offered six-month Treasury bill (discount basis), two-year Treasury note, and 10-year Treasury note. Moving averages are used by analysts to monitor trends and trend changes. Generally, interest rates are increasing (prices falling) when the moving average yield is rising and the current rate exceeds the moving average. Conversely, current yields below a declining moving average are associated with lower interest rates (high prices on fixed-income securities). Some market timers buy (or sell) longer maturities when current market yields fall below (or penetrate above) their moving averages. The money market fund index - This index is the simple average of iMoneyNet Money Fund Averages /Taxable (All) seven-day money market fund indexes, as reported for the two weeks closest to the end of each month. The annualized return is calculated using these rates for a four-week period centering on the first of each month. The results should simulate returns from passive investment in an average money market fund. S&P Rated LGIP Index - This index is comprised of local government investment pools that are rated AAAm or AAm by Standard & Poor's and represents pools that strive to maintain a stable net asset value.

Executive Director/CEO: Jeffrey Esser

Editor: Marcy Boggs

April 2012 Vol.ume 30, Number 4

Government Finance Officers Association of the United States and Canada

Page 7 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

II. Unemployment Numbers

21.00 14.00 7.00 0.00 Mar-2009 Mar-2010 Mar-2011 Griffin, July 2009, 19.6 11.80 12.00 15.60 15.40 12.40 9.80

March Data for Griffin not available at tim of printing

Griffin, 13.90 Spalding, 11.20

Georgia, 9.00

13.80
10.30

9.20

Mar-2012 # Change in Unemployment 40,263 (17,835) (37,196) # Change in Unemployment 588 (408) (305) # Change in Unemployment 358 (38) (148) % Change in Unemployment 9.12% -3.70% -8.02% % Change in Unemployment 17.31% -10.24% -8.53% % Change in Unemployment 31.32% -2.53% -10.12%

Latest Unemployment Figures

Georgia Mar-2009 Mar-2010 Mar-2011 Mar-2012 Labor Force 4,791,846 4,691,635 4,719,633 4,759,245 Employment 4,350,305 4,209,831 4,255,664 4,332,472 Unemployment 441,541 481,804 463,969 426,773 Unemployment Rate 9.20 10.30 9.80 9.00 Unemployment Rate 12.00 13.80 12.40 11.20 Unemployment Rate 11.80 15.60 15.40 13.90

Spalding County Mar-2009 Mar-2010 Mar-2011 Mar-2012

Labor Force 28,390 28,791 28,848 29,112

Employment 24,994 24,807 25,272 25,841

Unemployment 3,396 3,984 3,576 3,271

Griffin Dec-2008 Dec-2009 Dec-2010 Dec-2011

Georgia

Labor Force 9,686 9,611 9,507 9,450

Employment 8,543 8,110 8,044 8,135

Unemployment 1,143 1,501 1,463 1,315

Spalding County

Georgia

Spalding County

Data comes from the U.S. Department of Labor, Bureau of Labor Statistics

Page 8 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

III. General Fund Revenue Sources

How do employment economics relate to the City of Griffin and its revenue sources? The City's general fund revenue sources include (by category) Taxes, Intergovernmental, Fines and Forfeitures, Licenses and Permits, Charges for Services, Rents and Royalties, etc These types of revenue sources, such as taxes, are subject to economic ebbs and flows, are directly and indirectly connected through changes in the unemployment figures.

Taxes

Taxes account for approximately 59 percent of the City's general operating revenue coming from property taxes, local option sales taxes, insurance premium taxes, alcohol taxes, business occupation taxes, and motor vehicle taxes, etc Property taxes alone represent approximately 23 percent of general fund revenue followed by local option sales tax of approximately 19 percent of general fund revenue. This category accounts for revenue sources (predominantly grants) from other governmental agencies.

Intergovernmental

Fines and Forfeitures

Near 7 percent of total general fund revenue, traffic fines make up 66 percent of this category or $762000 with the balance (34 percent or $393000,) from traffic cameras (running red lights), parking tickets, seatbelt fines, and ordinance fines. Licenses and permit make up less than 2 percent of the general fund revenue source. Licenses make up approximately 72 percent or $194000 of this category. The balance of 28 percent or $74700 comes from permits and 0 percent or $0 from regulatory fees and interest from delinquent payments. Service fees include business occupation tax administration fees, police service charges for copies, documents, etc., plan review and zoning document fees, and pavilion rentals. This category also includes a large portion ($4.4M) in administrative cost allocations coming from enterprise and internal services funds. Cost allocations, depending on their nature, can be non-cash book entries in order to comply with Generally Accepted Accounting Principles (GAAP). Allocations are designed to shift and allocate costs to the business units in order to show the true operating costs.) These are revenues from leased office and parking lot spaces. This category represents interest and dividend earnings from investments. This category includes insurance settlements, claims, recoveries, and miscellaneous reimbursements.

Licenses and Permits

Charges for Services

Rents and Royalties Investment Income Miscellaneous Revenues

Page 9 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

IV. Revenues by Category

General Fund Total General Fund Revenues

Rolling Twelve Month Actual Projected Over (Under) Budget % Variance % Weighted 413,732 2.34% 100.00%

Budget Total Revenues By Category Operating Revenue Taxes Licenses and Permits Charges for Services Fines and Forfeitures Rents and Royalties Total Operating Revenue Non-operating Income Intergovernmental Interest/Investment Income Contributions and Donations Gain (Loss) on Sale of Capital Assets Total Non-operating Income Transfers in from Other Funds Total Revenues

Projection

$ 17,699,818 $ 17,680,080 $ 18,113,550 $ 2 199 202

10,426,000 268,700 4,654,420 1,155,000 177,780 16,681,900

11,056,440 341,300 4,742,700 928,700 213,300 17,282,440

10,720,230 354,000 4,688,100 1,019,600 212,600 16,994,530

294,230 85,300 33,680 (135,400) 34,820 312,630

2.82% 31.75% 0.72% -11.72% 19.59% 1.87%

71.12% 20.62% 8.14% 32.73% 8.42% 75.56%

250,418 10,500 12,000 650,000 922,918 95,000

187,600 15,000 3,700 59,100 265,400 132,240

233,000 24,000 3,220 722,000 982,220 136,800

(17,418) 13,500 (8,780) 72,000 59,302 41,800 413,732

-6.96% 128.57% -73.17% 11.08% 6.43% 44.00% 2.34%

4.21% 3.26% 2.12% 17.40% 14.33% 10.10% 100.00%

$ 17,699,818 $ 17,680,080 $ 18,113,550 $ 0 0 0

Adjustments: Gain (Loss) on Sale of Capital Assets: $ 650,000 $ 59,100 $ 722,000 $ 72,000 0 722,000 0 72,000 0 413,732 2.34%

***No adjustments as of the report date.*** Gain (Loss) on Sale of Capital Assets after Adjustments: 650,000 59,100 Total Adjustments: 0 0 Total Revenues after Adjustments

$ 17,699,818 $ 17,680,080 $ 18,113,550 $

ANALYSIS: Total General Fund Revenues as of the date of this report are forecast at $18.1 million after adjustments (up $414 thousand or 2.34 percent of Budget). As of March 31, 2012 the revenue forecast model projects Local Option Sales Tax (LOST) revenues at $3.4 million (up $115 thousand dollars or 3.5 percent of Budget).

Page 10 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

V. Revenues

General Fund Tax Revenues

Rolling Twelve Month Actual Projected Over (Under) % Weighted Budget % Variance on Category 294,230 2.82% 100.00%

Budget Total Tax Revenues By Category Property Taxes Real Property Tax Public Utility Tax Motor Vehicle Tax Intangible Tax Railroad Equipment Tax Real Estate Transfer Tax Timber Tax Real Property Tax - Prior Year Heavy Equipment Tax Property not on Tax Digest Sub-total Property Taxes Franchise Taxes Franchise Fees - Electric Franchise Fees - Natural Gas Franchise Fees - Cable Television Franchise Fees - Telephone Sub-total Franchise Fee Taxes Food and Beverage Taxes Wine Tax Beer Excise Tax Liquor Excise Tax Sub-total Beer, Wine, Liquor & Mixed Drink Tax Payment in Lieu of Taxes Local Option Sales Tax (LOST) Hotel Motel Tax Business Occupation Tax Insurance Premium Tax Financial Institution Tax Penalty and Interest on Delinquent Taxes Penalty and Interest on Delinquent Business Licenses and Permits Homeowner's Tax Relief Grant Total Tax Revenues

Projection

$ 10,426,000 $ 11,056,440 $ 10,720,230 $

3,800,000 45,000 275,000 14,000 4,000 6,000 0 0 0 0 4,144,000

4,114,100 33,000 289,510 17,300 0 4,200 0 223,690 0 2,800 4,684,600

4,147,000 45,000 290,290 17,400 1,500 4,200 0 0 0 600 4,505,990

347,000 0 15,290 3,400 (2,500) (1,800) 0 0 0 600 361,990

9.13% 0.00% 5.56% 24.29% -62.50% -30.00%

117.93% 5.20% 1.16% 0.85% 0.61%

100.00% 8.74%

0.20% 123.03%

75,000 160,000 230,000 141,000 606,000

56,340 157,400 232,400 115,300 561,440

56,340 157,400 175,700 115,400 504,840

(18,660) (2,600) (54,300) (25,600) (101,160)

-24.88% -1.63% -23.61% -18.16% -16.69%

6.34% 0.88% 18.45% 8.70% 34.38%

0 500,000 71,000 571,000 5,000 3,300,000 0 400,000 1,300,000 80,000 20,000 0 0

0 584,800 47,400 632,200 0 3,482,000 0 443,900 1,110,000 76,700 64,600 1,000 0

0 557,700 56,300 614,000 0 3,415,000 0 435,800 1,110,000 78,600 55,200 800 0

0 57,700 (14,700) 43,000 (5,000) 115,000 0 35,800 (190,000) (1,400) 35,200 800 0 294,230

11.54% -20.70% 7.53% -100.00% 3.48% 8.95% -14.62% -1.75% 176.00% 100.00%

19.61% 5.00% 14.61% 1.70% 39.09% 12.17% 64.58% 0.48% 11.96% 0.27%

$ 10,426,000 $ 11,056,440 $ 10,720,230 $

2.82%

100.00%

Notes: - Franchise Fees are paid in quarterly installments

Cable fees average $50k to $51k per quarter. Phone fees average $36k to $38k per quarter.

Page 11 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

Taxes: Property Taxes

1. The 2011 property tax gross digest decreased to just under $580.1M (down $-15.7M from $595.7M in the prior year). 2. Maintenance and operations (M&O) exemptions decreased to $37M (up $2.1M from $34.9M in the prior year). 3. Changes in the gross digest and M&O exemptions reduced the net M&O digest to $543.1M (down $-17.7M from $560.8M in the prior year). In Summary The net levy decreased to $4689990 (down $153060 from $4843050 in the prior year).

Homeowners Tax Relief Grant (HTRG)

Fiscal year 2009 was the last year for the Homeowners Tax Relief Grant program.

Sales Tax Distribution

As of March 31, 2012 the revenue forecast model projects Local Option Sales Tax (LOST) revenues at $3.4 million (up $115 thousand dollars or 3.5 percent of Budget). Below is a chart of sales tax distributions for the City of Griffin, Spalding County and Griffin Board of Education. The chart shows distributions for the month, total distributions for the last twelve consecutive months, and year to date for the current fiscal year. Data comes from the Georgia Department of Revenue.

Sales Tax Distribution

Sales Tax Distribution As of March 31, 2012 Jurisdiction

Spalding - CITY OF GRIFFIN (LOST) Spalding - SPALDING COUNTY BOARD OF COMMISSIONERS (LOST) Spalding - SPALDING COUNTY BOARD OF COMMISSIONERS (SPLOST) Spalding - SPALDING COUNTY-GRIFFIN BD OF EDUCATION (ELOST)

Tax Type
LOST LOST SPLOST ELOST $ $ $ $

Amount of Distribution Last For the Twelve Current Month Months Fiscal Year
293,050 $ 439,575 $ 732,133 $ 732,626 $ 3,463,291 $ 5,194,935 $ 8,650,832 $ 8,658,363 $ 2,590,020 3,885,022 6,471,387 6,475,130

We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next 10.

--Bill Gates, American businessman, software engineer and philanthropist

Page 12 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund (1) Property Taxes

2012 (Projected) 4,505,990 -3.37% 55,200 90.34%

Property Tax Revenue (percentage change over prior years) Penalty and Interest on Delinquent Taxes (percentage change over prior years)

2008 4,798,148 $

2009 4,682,938 $ -2.40% 28,953 $ 39.14%

2010 4,798,935 $ 2.48% 43,489 $ 50.21%

2011 4,662,904 $ -2.83% 29,000 $ -33.32%

20,808 $

(1) Property taxes as presented in the Comprehensive Annual Financial Report Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds. Includes Real Property Tax, Public Utility Tax, Timber Tax, Real Property Tax - Prior Year, Motor Vehicle Tax, Railroad Equipment Tax, Intangible Tax, Heavy Equipment Tax, Property-Not-on-Digest, Real estate Transfer Tax, Homeowner's Tax Relief Grant (HTRG).

Tax Digest and 5 Year History

Real & Personal Motor Vehicle Mobile Homes Public Utility Timber Heavy Duty Equipment Gross Digest (dollar change over prior years) (percentage change over prior years) Less: Maintenance and Operations (M&O) Exemptions: (dollar change over prior years) (percentage change over prior years) NET: M&O Digest (dollar change over prior years) (percentage change over prior years) Millage (rate per thousand dollars) Net Levy (dollar change over prior years) (percentage change over prior years) 2007 2008 2009 2010 2011 $593,772,680 $595,986,256 $570,215,369 $564,247,211 $545,778,551 35,377,370 35,403,020 36,624,500 31,458,590 34,277,550 10,494 14,575 28,760 631,432,611 2,272,067 0.36% 45,000 6,017 606,890,886 (24,541,725) -3.89% 5,220 595,711,021 (11,179,865) -1.84% 580,056,101 (15,654,920) -2.63%

629,160,544

45,219,895

50,826,550 5,606,655 12.40% 580,606,061 (3,334,588) -0.57% 8.638 $5,015,280 (6,610) -0.13%

40,876,237 (9,950,313) -19.58% 566,014,649 (14,591,412) -2.51% 8.636 $4,888,100 (127,180) -2.54%

34,913,558 (5,962,679) -14.59% 560,797,463 (5,217,186) -0.92% 8.636 $4,843,050 (45,050) -0.92%

36,982,207 2,068,649 5.93% 543,073,894 (17,723,569) -3.16% 8.636 $4,689,990 (153,060) -3.16%

583,940,649

8.600 $5,021,890

Page 13 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Licenses and Permits

Rolling Twelve Month Actual 341,300 $ Projected Over (Under) % Weighted Budget % Variance on Category 85,300 31.75% 100.00%

Budget Total Licenses and Permits Revenues By Category Licenses Beer License Wine License Liquor License Sub-total Licenses Permits House Moving Permits Burn Permits Zoning & Land Use Permits Sign Permits Catering Permits Building Permits Plumbing Permits Electrical Permits Gas Permits Mechanical Permits Sub-total Licenses and Permits Insurance Regulatory Fees Interest on Business Licenses Sub-total Licenses and Permits Total Licenses and Permits Revenues $ $

Projection

268,700 $

354,000 $

40,000 40,000 114,000 194,000 0 0 7,000 15,000 400 38,000 5,000 6,000 200 3,100 74,700 0 0 0 268,700 $

43,400 42,100 115,200 200,700 0 0 4,500 17,600 800 53,700 5,400 11,000 600 5,300 98,900 39,200 2,500 41,700 341,300 $

43,700 42,400 116,800 202,900 0 100 5,300 16,500 900 59,400 7,100 12,900 1,200 6,300 109,700 38,800 2,600 41,400 354,000 $

3,700 2,400 2,800 8,900 0 100 (1,700) 1,500 500 21,400 2,100 6,900 1,000 3,200 35,000 38,800 2,600 41,400 85,300

9.25% 6.00% 2.46% 4.59%

4.34% 2.81% 3.28% 10.43%

100.00% -24.29% 10.00% 125.00% 56.32% 42.00% 115.00% 500.00% 103.23% 46.85% 100.00% 100.00% 100.00% 31.75%

0.12% 1.99% 1.76% 0.59% 25.09% 2.46% 8.09% 1.17% 3.75% 41.03% 45.49% 3.05% 48.53% 100.00%

General Fund Licenses and Permits

Licenses and Permits Revenue (percentage change over prior years) Licenses (percentage change over prior years) Permits (percentage change over prior years) $ 2008 396,528 $ 2009 300,540 $ -24.21% 208,271 $ 18.02% 92,269 $ -58.07% 2010 284,588 $ -5.31% 185,438 $ -10.96% 99,150 $ 7.46% 2012 (Projected) 2011 285,302 $ 312,600 0.25% 9.57% 192,000 $ 3.54% 93,302 $ -5.90% 202,900 5.68% 109,700 17.58%

176,475 $

220,053 $

$396,528 $300,540
2008 2009 $284,588 2010
Licenses and Permits Revenue

$285,302 2011

$312,600

2012 (Projected)

Page 14 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Intergovernmental Revenues

Rolling Twelve Month Actual 187,600 $ Projected Over (Under) % Weighted Budget % Variance on Category (17,418) -6.96% 100.00%

Budget Total Intergovernmental Revenues By Category DNR Funding Federal DEA Overtime Reimbursement City of Atlanta HIDTA GMA Mutual Aid Reimbursements School Resource Officers Prism Training Revenue Spalding County Board of Education Reimbursement Spalding County Grants LCI Grant ARC LLEBG - Vest Grant Byrne Grant GMA Safety Grant FEMA Grants Sub-total Grants Total Intergovernmental Revenues $ $

Projection

250,418 $

233,000 $

0 20,000 7,000 0 127,800 16,000 0 0

15,100 31,100 4,100 0 127,100 7,600 0 0

0 32,400 7,000 0 127,800 6,500 0 0

0 12,400 0 0 0 (9,500) 0 0 0 0 0 0 (40) 5,000 (25,278) (20,318) (17,418) 62.00% 0.00% 0.00% -59.38% 71.19%

54.54%

0 15,000 39,340 0 25,278 79,618 250,418 $

0 2,600 0 0 0 2,600 187,600 $

0 15,000 39,300 5,000 0 59,300 233,000 $

0.00% -0.10% 100.00% -100.00% -25.52% -6.96%

0.23% 28.71% 145.13% 116.65% 100.00%

General Fund Intergovernmental

Total Intergovernmental Revenue (percentage change over prior years) Intergovernmental Reimbursements (percentage change over prior years) Grants (percentage change over prior years) $ 2008 397,385 $ 2009 406,382 $ 2.26% 383,429 $ 13.35% 22,953 $ -61.17% 2010 678,255 $ 66.90% 394,755 $ 2.95% 283,500 $ 1135.13% 2012 (Projected) 2011 275,160 $ 233,000 -59.43% -15.32% 207,160 $ -47.52% 68,000 $ -76.01% 173,700 -16.15% 59,300 -12.79%

338,271 $

59,114 $

Total Intergovernmental Revenue

$800,000 $600,000 $678,255

$397,385
$400,000 $200,000 2008

$406,382 $275,160 2009 2010 2011 $233,000 2012 (Projected)

Page 15 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Charges for Services

Rolling Twelve Month Actual 4,742,700 $ Projected Over (Under) % Weighted Budget % Variance on Category 33,680 0.72% 100.00%

Budget Total Charges for Services Revenues By Category Indirect Cost Allocations IT Equipment Cost Allocation Returned Check Fees Election Qualifying Fees Business Occupation Tax Administration Fee Business List Reports Data Processing Fees Credit Card Fees Fire Inspections Cemetery Fees Pool Service Fees Sale of Recycled Materials Pavilion Rental Plan Review Fees Demolition Recovery Fees Customer Service Fee Zoning Application Fees Total Charges for Services Revenues $ $

Projection

4,654,420 $

4,688,100 $

4,437,870 0 0 1,600 30,000 0 36,000 0 0 130,000 4,650 0 7,000 4,000 3,000 0 300 4,654,420 $

4,478,800 17,900 100 2,800 30,700 0 18,800 3,700 300 157,000 1,600 0 12,200 14,500 3,700 0 600 4,742,700 $

4,437,900 0 400 2,800 29,800 0 17,200 3,800 300 160,400 2,100 0 13,100 15,100 3,900 0 1,300 4,688,100 $

30 0 400 1,200 (200) 0 (18,800) 3,800 300 30,400 (2,550) 0 6,100 11,100 900 0 1,000 33,680

0.00% 100.00% 75.00% -0.67% -52.22% 100.00% 100.00% 23.38% -54.84% 87.14% 277.50% 30.00% 333.33% 0.72%

0.09% 1.19% 3.56% 0.59% 55.82% 11.28% 0.89% 90.26% 7.57% 18.11% 32.96% 2.67% 2.97% 100.00%

General Fund Charges for Services

Charges for Services Revenue (percentage change over prior years) Indirect Cost Allocations (percentage change over prior years) Charges for Services (percentage change over prior years) $ 2008 5,174,480 $ 2009 5,043,464 $ -2.53% 4,743,332 $ -3.53% 300,132 $ 16.44% 2010 4,454,639 $ -11.68% 4,178,087 $ -11.92% 276,552 $ -7.86% 2012 (Projected) 2011 4,913,673 $ 4,688,100 10.30% -4.59% 4,673,000 $ 11.85% 240,673 $ -12.97% 4,437,900 -5.03% 250,200 3.96%

4,916,713 $

257,767 $

$5,174,480

$5,043,464
$4,454,639

$4,913,673

$4,688,100

2008

2009

2010

2011

2012 (Projected)

Page 16 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Fines and Forfeitures

Rolling Twelve Month Actual 928,700 $ Projected Over (Under) % Weighted Budget % Variance on Category (135,400) -11.72% 100.00%

Budget Total Fines and Forfeitures Revenue By Category Police Revenue Traffic Fines Camera Traffic Light Fines Code Violations Seat Belt Fines Ordinance Fines Total Fines and Forfeitures Revenue* $ $

Projection

1,155,000 $

1,019,600 $

19,000 762,000 350,000 0 0 24,000 1,155,000 $

15,700 597,200 308,600 200 3,800 3,200 928,700 $

15,100 638,100 358,000 200 500 7,700 1,019,600 $

(3,900) (123,900) 8,000 200 500 (16,300) (135,400)

-20.53% -16.26% 2.29% 100.00% 100.00% -67.92% -11.72%

2.88% 91.51% 5.91% 0.15% 0.37% 12.04% 100.00%

*** Seat Belt Fines --- beginning July 1, 2011 seat belt fines are combined with traffic fines.

$863,445 $758,948

$728,000 $644,537 $638,100

$403,596 $391,308

$176,631
$327,000

$358,000

30-Jun-08

30-Jun-09
Traffic Fines

30-Jun-10

30-Jun-11

30-Jun-12

Camera Traffic Light Fines

Page 17 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Other Revenues

Rolling Twelve Month Actual Projected Over (Under) % Weighted Budget % Variance on Category

Budget Other Revenues Investment Income Rents, Royalties and Other Rents Insurance Claims Miscellaneous Revenue Contributions and Donations Sub-total Rents, Royalties and Other Proceeds and Other Financing Sources Proceeds of GMA Leases Proceeds of Sales of Fixed Assets Sub-total Proceeds and Other Financing Sources Transfers: Transfer from Hotel Motel Tax Fund Transfer from Police Technology Fund Transfer from Court Technology Fund Transfer from Water/Wastewater Transfer from Electric Fund Transfer from Welcome Center Fund Transfer from Solid Waste Fund Transfer from Airport Fund Transfer from Storm Water Fund Transfer from Golf Course Transfer from Motor Pool Transfer from GBTA 18,000 51,000 26,000

Projection

10,500 $

15,000 $

24,000 $

13,500

128.57%

7.56%

174,780 3,000 0 12,000 189,780

190,580 1,640 21,100 3,680 217,000

206,300 800 5,500 3,220 215,820

31,520 (2,200) 5,500 (8,780) 26,040

18.03% -73.33% 100.00% -73.17% 13.72%

17.65% 1.23% 3.08% 4.92% 14.58%

650,000 0 650,000

0 59,100 59,100

650,000 72,000 722,000

0 72,000 72,000

0.00% 100.00% 11.08%

40.33% 40.33%

25,690 69,770 36,780 3,531,260 3,630,320 (1,010)

27,700 72,300 36,800

9,700 21,300 10,800

53.89% 41.76% 41.54%

5.43% 11.93% 6.05%

12,600

12,600

100.00%

7.06%

379,950

(20,460)

12,600

12,600

100.00%

7.06%

Sub-total Transfers from Other Funds Total Other Revenues $

95,000 945,280 $

7,652,300 7,943,400 $

162,000 1,123,820 $

67,000 178,540

70.53% 18.89%

37.53% 100.00%

Page 18 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

General Fund Other Revenues

2008 71,454 $ 2009 15,966 $ -77.66% 191,521 $ -11.09% 883 -92.82% 14,884 $ -83.55% 2010 6,847 $ -57.12% 195,969 $ 2.32% 0 $ -100.00% 28,680 $ 92.69% 2012 (Projected) 2011 8,829 $ 24,000 28.95% 171.83% 196,689 $ 0.37% 454 $ 0.00% 4,957 $ -82.72% 206,300 4.89% 3,220 609.25% 728,300 14592.35%

Interest Income (percentage change over prior years) Rental Income (percentage change over prior years) Donations and Contributions (percentage change over prior years) Other Revenues (percentage change over prior years)

215,418 $

12,296 $

90,462 $

$100,000 $71,454

$75,000

$50,000

$24,000
$25,000 $12,296 0 2008 $883 2009
Interest Income

$15,966 $6,847 0 2010 $8,829 $454 2011

$3,220
2012 (Projected)

Donations and Contributions

Any idiot can face a crisis - - it's the day-to-day living that wears you out."

--Anton Chekhov, Russian author and playwright

Page 19 of 20

CITY OF GRIFFIN Revenue Status Report - General Fund

As of March 31, 2012 (Unaudited - Internal Use Only)

THIS PAGE INTENTIONALLY LEFT BLANK

City of Griffin Department of Administrative Services Finance and Accounting Division 100 South Hill Street Griffin, Georgia 30223 www.cityofgriffin.com

Page 20 of 20