1. Warren County Economic Outlook FY 2010

2. EXPENDITURES 46.9% of Expenditure budget expended 3% less than expended in FY09 for the same period Major Expenditure categories are under budget FY 10 Expenditure budget were reduced where possible in anticipation of weak revenues

3. REVENUES Revenues exceed Expenditures by 10% Revenue projections were reduced in light of the sluggish economy Sales Taxes and Investment Income are not anticipated to meet budget expectations Other revenues appear to be on target

4. AD VALOREM TAXES

5. SALES TAXES

6. SALES TAXES FY 10 ACTUALS VS. PROJECTION

7. EXCISE TAXES

8. PERMITS AND FEES

9. SALES AND SERVICES

10. INVESTMENT INCOME

11. INVESTMENTS Short Term Rates 12-31-200812-31-200901-15-2010 3 Month T-Bills0.080.05 1 Yr CD’s1.990.700.50 5 Yr T-Notes1.552.682.42

12. CONCLUSIONS Sales Tax revenues are not anticipated to meet expectations Investment Income is not anticipated to meet expectations. Other Investment options are being researched Currently other Revenues appear on target Major expenditure lines are anticipated to end the year under budget