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they plan to program into the annual operating budget. <br />The county's 2004 budget includes a 2% cost of living salary increase and a 44% <br />increase in health insurance costs. School funding has been held constant from fiscal <br />2003 levels but the county has restored the school system's capital funding that was <br />eliminated in fiscal 2003. Officials have budgeted sales tax revenues to be fiat in fiscal <br />2004, excluding the new ~ cent, and have projected growth in property tax revenues at <br />1%. <br /> <br />MANAGEABLE DEBT POSITION <br />At 1.7% of full valuation, the county's debt burden is manageable. Additional future plans <br />call for approximately $25 million in COPs to finance additional jail space in 2006 or 2007 <br />and additional school borrowing estimated at $118 million over the next five years for <br />construction of four new elementary schools, a new middle school, a new high school, the <br />remodeling of a middle school, a media center for the high school and new science labs. <br />Amortization of principal is above average with 60% of principal repaid within 10 years. <br />KEY STATISTICS: <br /> <br />Population: 136,316 <br /> <br />2002 Full Valuation: $11.05 billion <br /> <br />Full value per capita: $81,097 <br /> <br />Overall debt burden: 1.7% <br /> <br />FY02 General Fund balance: $41.7 million (36.4% million) <br /> <br />FY02 Undesignated General Fund balance: $29.66 m~llion (25.9% of revenues) <br /> <br /> Unemployment (County) (2/03): 5.5% <br /> <br /> Median Family Income as a % of state: 115.9% <br /> <br /> Per Capita Income as a % of state: 104.0% <br /> <br /> Post-sale parity debt outstanding: $131.74 million <br /> <br />© Copyright 2003, Moody's Investors Service, Inc. and/or its licensors ~nclud~ng Moody's Assurance Company, Inc (together, "MO0 <br /> <br /> <br />