Fulton Ends 2010 With $156.6 Million in Reserves, Most Homeowners Saw Tax Decrease | Print |

Fulton County maintained its strong financial position in 2010, ending the year with a fund balance of $156.8 million.

The current General Fund reserve exceeds the 8.33% minimum reserves required by Board of Commissioners’ policy. Portions of the fund balance that exceed the reserve minimum may be applied to operations, if needed. 

In total, Fulton County Government’s 2010 total General Fund expenditures of $548 million were $39.8 million less than the budgeted $588.5 million.  By comparison, 2010 actual expenditures were $41 million less than the 2005 actual expenditures of $589.5 million, and were the lowest since 2001, when expenditures were $536 million.

The County’s 2010 revenues exceeded the projections by $75 million, due to conservative tax revenue projections at the beginning of the year. Countywide tax collection rates for 2010 were approximately 98%.  Most homeowners experienced a tax reduction on the Fulton County portion of their property tax bill in 2010, due to lower property assessments.

County Manager Zachary L. Williams attributes the County’s strong year end position to efforts made by all employees to realize cost savings. “We have asked each employee to carefully consider every expenditure. Their commitment to austerity has helped us cut costs while serving thousands of residents during a time of critical need.”

Even with lower expenditures in 2010 and conservative budget projections, the County launched several new programs for citizens including a new senior transportation service and construction of new cultural amenities.

The County Manager and Finance team plan to continue working with the Board of Commissioners and County staff to ensure continued conservative budgeting throughout 2011 and into 2012.

The Board of Commissioners will approve the final 2011 budget by January 31.