7/31/07 LLGSF Certifications
Last week, a message to library directors and clerk-treasurers included a link to the 2008 LLGSF estimates calculated by Driscoll & Fleeter. On July 25, the Ohio Department of Taxation (ODT) released its LLGSF 2008 estimates – which do not match the Driscoll & Fleeter figures. Following discussions, Driscoll & Fleeter revised some but not all tax collection expectations, resulting in a .2% variance between the two estimates. It is agreed that there is support for either set of numbers. In reality, this illustrates that these are truly estimates. Directors who have LLGSF experience prior to the 2002 freeze will recall that there were often differences between the ODT and then-Levin & Driscoll estimates. Also, the ODT estimates are traditionally low, but usually a prudent course to follow for budgeting purposes.
Use the following links for more information:
Driscoll & Fleeter Cash Flow Memo and Estimates - Revised
Ohio Department of Taxation Certifications
