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albemarle/budget

Diantha McKeel Community Meeting Tuesday, March 11. Discussion of FY 15 Operating and Capital Budget and Other Issues of Interest. www.albemarle.org/budget. Welcome & Introductions. Welcome Introductions Format Materials Best communication ideas?.

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albemarle/budget

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  1. Diantha McKeel Community Meeting Tuesday, March 11 Discussion of FY 15 Operating and Capital Budget and Other Issues of Interest www.albemarle.org/budget

  2. Welcome & Introductions • Welcome • Introductions • Format • Materials • Best communication ideas? County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  3. The Budget Process – The quiet phase • Summer – Late Fall General government and School division staff prepare the budget. This includes a review by all departments, the capital improvement program, and outside agency requests County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  4. Final Staff Recommendations • December – February The School Superintendent rolls out the school budget and the County Executive puts final thinking into the budget that will be released to the Board of Supervisors County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  5. February – Public Debut • County Executive releases the County Budget to the Board of Supervisors and the citizens of Albemarle at the same time… County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  6. February - March • Supervisors immediately convene a public hearing on the County Executive’s recommended budget • …and then conduct several work sessions reviewing the recommendations including a briefing on the School budget • … and then (by law) advertise the highest rate it will consider for the coming year….to begin public comment County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  7. March - April • Supervisors review emails and hold town hall meetings to gauge public opinion about the advertised rate • Supervisors hold a final public hearing ->April 8th this year County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  8. April 15, 2014 SUPERVISORS VOTE ON THE RATE County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  9. Exceptional Financial Management • One of only 39 counties nationwide with a Triple, Triple A Bond rating • Consistently receive audit report without findings or notations • Financial reporting and budget awards from Government Finance Officer Assoc. • One of the lowest tax rates among Virginia’s 20 most populated counties County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  10. Tax Rate – 10 Year Perspective County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  11. Consumer Price Index 5 Year History County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  12. Responding to Recession – 6 Year History County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  13. How New Tax Revenues are Dedicated County Executive recommendation is a 1.7 cent increase in the tax rate. 1.3 cents of this is to cover federal and state unfunded mandates The remaining .4 cents of tax rate increase shores up additional school, general government & capital needs County of Albemarle, Virginia Recommended Operating and Capital Budgets FY 2015

  14. Staff Recommended Expenditures Total School Division:   57% Total General Government: 38% County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  15. Revenues needed to balance Expenditures County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  16. FOR A HOME VALUED AT $ 275,000 2,100 2,050 2,000 1,950 1,900 1,850 1,800 1,750 2009 2010 2011 2012 2013 2014 Rec 2014 Adv Tax Bill 2009 – 2013 (‘14 ???) Recommended: 1.7 cent increaseAdvertised: 4.2 cent increase 0.742 0.742 0.762 0.762 0.766 $0.783 $0.808 County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  17. School Budget Deficit • School Board presented a budget with almost a $7 million dollar deficit • County Executive factored in additional revenues creating the need for a tax increase that still left a $5.8 million dollar deficit • Supervisors advertised a rate that, if adopted without other provisions, will still leave a $2.4 million dollar deficit County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  18. Tax Implications on a $300,000 Home County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

  19. Closing Help us know the best ways to communicate through the year? • A – Mail • Email • Homeowners Associations • Public Hearings • Town Halls • Social Media Thanks for coming out tonight! County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

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