The El Dorado County Board of Supervisors received a budget update at the Feb. 28 meeting.
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Laura Schwartz, chief budget analyst, said that she is projecting that the county will generate $760,000 less in revenue than expected but expenditures are projected to be $10 million less than expected through the remainder of the fiscal year.
She reported the county took in more revenue than expected from property taxes, SB 90 revenue (for unfunded state mandates), miscellaneous taxes and fees. Revenues were down from sales taxes, assessment tax collection fees, and departmental revenue.
Expenditures were down because of departmental savings with the exception of Information Technologies.
Schwartz provided projections of funding shortfalls in the future, depending upon different assumptions. The projected budget shortfalls for next year vary from $1.3 million to $5.4 million. However, shortfalls over succeeding years could be much greater if there is no growth in revenue or cutback in expenditures. Those projections result in a potential cumulative gap of $57 million to $85 million over a five-year period.