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8/12/2019 Douglas County Financial State of the County presentation
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2ndAnnual Financial
State of the County
March 10, 2014
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AgendaO Who We AreO Where We Have BeenO Where We Are GoingO ProgressO Our Greatest AssetO Challenges AheadO Spotlight Awards
2Financial State of Douglas County, March 2014
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Who We Are
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Douglas CountyVision: A Community to Match the Scenery
Financial Stability
Safe Community
Economic Vitality
Infrastructure
Natural Environment,Resources and CulturalHeritage
Manage Growth andChange
Strategic
Priorities:
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Douglas County Over 750 square miles
18 % of Lake Tahoe shoreline
47,000 residents
Towns (Gardnerville, Genoa & Minden)
East Fork Fire & Paramedic Districts
$163 million annual operating budget
457 full-time employees
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Douglas County
Services WeProvide:
Planning, Building, Zoning,Code Enforcement,Cooperative Extension,Senior Center, Airport,Library, Parks andRecreation, Courts, DistrictAttorney, Juvenile Care,Public Health, SocialServices, Weed Control,Animal Care, Fire Protection,Paramedic, LawEnforcement, Assessor,Clerk/Treasurer, Recorder,Economic Vitality, GeneralAdministration
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Where We Have Been
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Where We Have Been
Financial State of Douglas County, March 2014 8
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
General FundExpenses vs. Revenues
as of March 2012
Revenues Expenditures
Projected Ongoing
Structural Budget Deficits
Great Recession Budget Deficits
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Solutions
Financial State of Douglas County, March 20149
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
Douglas County General Fund
Expenses vs. Revenues
as of March 2014
Revenues Expenses
Structurally balanced
annual budgets
projected
2002-2009 Annual Avg. Growth
Revenues 5.7%
Expenses 7.5%
2010-2013 Annual Avg. Growth
Revenues 1.8%
Expenses 0.4%
Projected 2014-2019 Annual Avg. Growth
Revenues 2.3%
Expenses 2.3%
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Solutions
O Reduced personnelexpenses $1 million
O Eliminated 65 FTE
O
Reduced employeesalary and benefit
O Negotiated 3-yearcontracts withemployees tostabilize costs
Financial State of Douglas County, March 2014 10
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Annual % Change in
Total Personnel Costs
Douglas County U.S. Private Industry U.S. State & Local Govt.
2002 to 2008 Countycosts increased 40.6
2009 to 2013County costsincreased 1.0
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SolutionsO 1stCounty to implement
Priority Based BudgetingO Engaging Policy Makers,
Employees & CommunityO Investing in Priorities:
O $1 million in existing funding to
roads (270% increase)
O Community and Senior Center
O Department Reorganizations
O Continuous Improvement
O 2014 Good Government Award
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Solutions
O 2013 - Moodys bond rating of Aa2O Third highest rating, very strong
O Achieved structural balance
O Achieved sustainable long-termresults
O 2014 - Standard and Poors upgradedbond rating from A+ to AAO Third highest rating, very strong
O First upgrade in 10 years and highestunderlying rating ever
O
Very strong management conditionsO Very strong financial practices that are
well embedded and likely sustainable
O Stable outlook
Financial State of Douglas County, March 2014 12
AAA Highest Quality
AA +
AA
AA -
A +
A
A -
BBB
B
CCC
C
DDD
D Lowest Quality
Douglas County Bond Rating History
Standard & Poor's
1995
199
8
2002
200
4
201
0
2012
2013
201
4
1995
199
8
2002
200
4
201
0
2012
2013
201
4
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Where We Are Going
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Economic IndicatorsO Real Gross Domestic
Product (GDP) growthwas 2.4% for 4thQuarter 2013
O GDP is the broadestmeasure of economicactivity for every majorsector of the economy
O Personal consumption
O Investment
O Net exports
O Government
The economy is growing at a moderate rate.
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O GDP price index
was 1.6% for the
4th2013
O GDP price index is
a strong indicator
of inflation
Economic Indicators
Inflation remains relatively low and stable.
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Economic Indicators
The unemployment rate is improving nationally and locally
Douglas Countys unemployment rate as of December 2013 was
9.6%, unchanged from October. This is the lowest unemployment
rate for the County since December 2008.
Financial State of Douglas County, March 2014 16
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Unemployment RateMonth Ended December 31
United States State of Nevada Douglas County Carson City
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Economic Indicators
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
# Sales 1321 1504 1306 878 690 569 664 687 791 927 947
Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Douglas County
Residential Property Sales and Prices (Combined Lake Tahoe and Valley)
For the Calendar Year Ended December
Median Average
Residential property median sales prices and number of sales
have continued to increase in the past two calendar years.
Financial State of Douglas County, March 2014 17
Highest
since 2008
Highest
since
2005
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Financial State of Douglas County, March 2014 18
Economic Indicators
$-
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
$900,000,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Douglas County Taxable Sales
Fiscal Years Ended June 30
First six
months
of Fiscal
Year2014
Positive trend in taxable sales.
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Year-to-Date taxable sales in Douglas County increase 0.4Douglas County is a receiving county we receive sales taxes collected inClark County and Washoe County (Consolidated Tax = 26 of General Fund)
Economic Indicators
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Clark Washoe Carson City Douglas
Year-to-Date
Change in Taxable Sales
Selected Nevada Counties
July - December 2013
Clark
73%
Washoe14%
Carson City
2%
Douglas
1%All Other
10%
Year-to-Date
Percentage of Total Nevada
Taxable Sales by County
July - December 2013
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Building permits are a leading indicator and have
been on a positive trend in the last two years.
Economic Indicators
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Commercial 44 42 39 16 19 8 8 8 10 7
Residential 505 537 418 153 58 46 38 35 49 108
0
100
200
300
400
500
600
Permits
Douglas County Building Permits
Calendar Year Ended December 31
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O Assessed values
decreased 29%
from 2009 to 2014
O Assessed values
are estimated to
increase 4% in
2015
Financial State of Douglas County, March 2014 21
Economic Indicators
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
Billions
Douglas County Assessed Value
$2.6
Bill
$3.4 Bill
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ProgressInfrastructure Investment
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ProgressCommunity Revitalization
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Progress
Community Engagement
Financial State of Douglas County, March 2014 24
Infrastructure
25%
Safe Community
20%
Natural Environment,
Resources and
Cultural Heritage
17%
Economic Vitality
16%
Managed
Growth and
Development
9%
Financial Stability
13%
Douglas County
Budget Challenge
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Our Greatest Asset:
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High PerformingWorkforce
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Linda Doherty
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Liz Baumgartner
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Recorders Office
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Pat Brooks
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Tanya Scott
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Eric Schmidt
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911 Emergency Services
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Liz Begovich
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Pete Knight
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Debbie Beam
& Tammy Davis
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How We Get Things Done
Financial State of Douglas County, March 2014 36
BoardLeadership
HighPerforming
County
Workforce
Residents&
Businesses
Engaged
Clarity of Vision +Common Purpose =
Transformation
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Challenges Ahead
Invest in infrastructure
Revitalize Main Streets
Invest in a highperforming workforce
Maintain Long Term
Financial Strength
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Spotlight Awards
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Thank You!
Financial State of Douglas County, March 2014 46