Created August 19, 2009 (Updated 11/2011) - this is a living page and data will be periodically added.
Neither the Lake County, FL School District or the Lake County Government specify economic indicators or analysis when making decisions. At least, it isn't discussed in meetings or published. An example would be to show the 10 year growth trend in economic statistics compared to proposed growth of salaries to ensure local government salary and benefit hikes didn't exceed local business trends and micro and macro economic trends.
Section B below lists internet links to various sources of economic data that affects the Lake County economy.
Section A below includes our most recent analysis of how the economic data should be used to control local government spending and policies.
Section A: Our Analysis of how the economic data should be used to control local Lake County, FL government spending and policies.
A1. Example of how a bar graph can be used to display funding sources over time (Lake County Roads - Source, Public Works - used for evaluation of past spending and future revenue needs. The two black lines are the upper and lower range of the average funding needs, while the bars are different revenue sources used for roads). Download the attached Powerpoint chart.
Section B: Internet links to economic data sources used in Section A
US Treasury Monthly & Quarterly Economic statistics reports - you can subscribe to email alerts to get this data.
STATE OF FLORIDA DATA & SOURCES:
Florida Economic & Demographic statistics from US Census posted on Infoplease.com (Only shows latest total and not trends or comparisons)
Florida - median income from 2007 Census Bureau study
Total: 56966 +/-328
No earners (dollars) 35666 +/-566
1 earner (dollars) 40898 +/-457
2 earners (dollars) 71643 +/-523
3 or more earners (dollars) 89512 +/-1,299
The Florida Legislature's Office of Economic and Demographic Research
Local Government Financial Information Handbook
This report serves as a reference for most of the revenue sources available to local governments and contains information useful for local government budgeting purposes, including descriptions of revenue sources, adjusted population estimates used for revenue-sharing calculations, and estimated revenue. (Added Nov., 2011 - Provided by Kathleen Farner-Thomas, Lake County Schools)
ECONOMIC THINK TANK OR INSTITUTIONAL SOURCES:
Tax Foundation 2009 Report that ranks which States are best for business. Florida is number 5. However, that is based just on tax policy (i.e. reflects no income tax), but doesn't incorporate other indicators affecting success of business, such as the quality of education. Thus Florida might rank high from tax policy standpoint, but low in other overall business rankings due to the weaker education system.