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BUDGET PROCESS Original Revenue less Expenditures, will determine if the Clerk is a deficit or a surplus. Clerk will only use the fine and fee amounts.

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Presentation on theme: "BUDGET PROCESS Original Revenue less Expenditures, will determine if the Clerk is a deficit or a surplus. Clerk will only use the fine and fee amounts."— Presentation transcript:

1 BUDGET PROCESS Original Revenue less Expenditures, will determine if the Clerk is a deficit or a surplus. Clerk will only use the fine and fee amounts before Chapter 2008- 111 to determine Clerk Revenue. “CHAPTER 2008-111 GR REVENUES” will not be included in the Clerk’s revenue amount used for budgeting purposes but will be tracked separately. CHAPTER 2008-111 GR REVENUES (FINES AND FEES ADDED BY Chapter 2008-111) “CHAPTER 2008-111 GR REVENUES” will be tracked and reported separately from original revenues. The revenue generated from CHAPTER 2008-111 will not be used in determining a Clerk’s operating budget. All additional fines and fees generated by CHAPTER 2008-111 will be remitted to DOR directly. SURPLUS COUNTIES (44 Counties) DEFICIT COUNTIES (23 Counties) COUNTY CLERK BUDGET PROCESS RELATED TO CHAPTER 2008-111 Surplus County Remittance Requirements Monthly 1/12 remittance of projected surplus. 100% of “CHAPTER 2008-111 GR REVENUES” must be remitted monthly to DOR. Deficit County Remittance Requirements No monthly remittance related to original revenues (deficit county). “CHAPTER 2008-111 GR REVENUES” can be used to offset a deficit and bring the county to breakeven. Remaining “CHAPTER 2008-111 GR REVENUES” after offsetting deficit must be remitted monthly. There can be 2 types of Deficit Clerks; Full Offset Deficit Clerk: CHAPTER 2008-111 GR REVENUES will cover deficit and NET Chapter 2008-111 GR REVENUES will be remitted to the Trust Fund. Residual Deficit Clerk: CHAPTER 2008-111 GR REVENUES do not cover deficit and the Clerk will still receive payments from the Trust Fund. “CHAPTER 2008-111 GR REVENUES” USED TO OFFSET DEFICIT THE FLOW OF REVENUE AFTER CHAPTER 2008-111 SURPLUS CLERK REVENUE REMITTANCE 1/12 of budgeted surplus Monthly CHAPTER 2008-111 GR Revenues Collected Year-End Settle Up TRUST FUND CHAPTER 2008-111 GR REVENUES generate approximately $10 million in additional revenue monthly. FULL OFFSET DEFICIT CLERK REVENUE REMITTANCE Monthly NET CHAPTER 2008-111 GR Revenues Year-End Settle Up RESIDUAL DEFICIT CLERK REVENUE REMITTANCE Monthly NET CHAPTER 2008-111 GR REVENUES (if actual CHAPTER 2008-111 GR Revenue covers Actual Deficit) Year-End Settle Up Residual Deficit Clerk will receive monthly payments from the trust fund to cover remaining deficit after “CHAPTER 2008-111 GR REVENUES.” Clerk of Court Clearing Trust Fund

2 COUNTY CLERK BUDGET EXAMPLES RELATED TO CHAPTER 2008-111

3 ACCOUNTING ENTRIES FOR CHAPTER 2008-111 GR REVENUES

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