The fiscal year 2014 budget process is officially under way. During last weeks City Commission meeting, Raoul Lavin, the City’s budget guru, gave City Commissioners a progress report on the previous year and a look at the 2014 general fund budget.
Mr. Lavin told the Commissioners that as of now, the general fund budget for 2014 will result in a $5 million deficit. The is based on the projections of $136 million in revenues and $141 million in expenditures. The $141 million in expenditures is approximately $8.3 million above the general fund actual expenditures in 2011.
Tallahassee Reports put together the table below that compares the level of spending of the City’s general fund from 2008 to 2014 to consumer spending in Leon county during the same period. Consumer spending was calculated using Florida Department of Revenue sales tax reports for Leon County.
Comparison of Spending Rates
|City General Fund Expenditures (millions)||132.3||141.3||6.8|
|Consumer Spending- Leon County (billions)||6.85||6.96||1.6|
The table shows that from 2008 to 2014 the City’s general fund expenditures increased from $132 million to $141, which is a 6.8% increase. During the that same period, consumer spending increased from $6.85 billion to $6.96 billion(projected) which is a 1.6% increase.
If consumer spending had increased at the same rate as the City’s general fund spending, consumer spending would have reached $7.3 billion. This level of spending is above pre-recession levels.
A comparison of Leon County spending will be completed when Tallahassee Reports receives the County’s proposed spending level for 2014.