Jon Caime
Hart County Administrator

Executive Summary:
Hart County has enjoyed sound financial management that has resulted in one of the lowest unincorporated millage rates in the State of Georgia (reported as 6th lowest out of 159 counties). With no debt and a very healthy fund balance, the Hart County Board of Commissioners has once again presented a lean general fund FY05 budget that is 2% less than the FY03 budget. This fiscal year is the second year in a row that the Hart County Board of Commissioners has reduced property taxes.

For FY05, total expenditures are budgeted at $15,336,388 with property tax revenues generating approximately 26% of the revenues. The one percent sales taxes (LOST) will generate approximately 12% of the revenues and the one percent sales taxes (SPLOST) will generate approximately 29% of the revenues. Approximately 8% of the revenues will be generated by grants from other governments. Approximately 13% of the revenues will come from other special revenue funds such as the insurance premium tax and the solid waste charges. The final 13% will come from a variety of other sources including fines, fees and other sources.

A chart (Value Equivalents $100,000 House) is attached showing the property tax estimates for a $100,000 house where property taxes generate $195. The other revenues are not generated from property taxes and if these other revenues did not exist from other sources then the dollar value shown in this chart would be needed from property taxes to continue these services at their same level.

Hart County has not yet received an audit for its 2003 fiscal year which ended 12 months ago. However, a budgeted deficit is not expected to materialize. Due to conservative spending, conservative budgeting, and increased revenues, FY03 is actually anticipated to generate a surplus of approximately $340,000.

Similarly a 2004 fiscal year (which ends September 30, 2004) budgeted deficit is not expected to materialize either. Again due to conservative spending, conservative budgeting and increased revenues FY04 is actually projected to break even or generate a slight surplus.