Discussion of FY 15 Operating and Capital Budget and Other Issues of Interest Diantha McKeel Community Meeting Tuesday, March 11

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

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

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

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

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

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

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

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

Tax Rate – 10 Year Perspective 10-Year Real Estate Tax Rate 2005$ $ $ $ $ $ $ $ $ ??? County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

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

Responding to Recession – 6 Year History County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015 FY09 – $333.7 million FY14 - $322.5 million FY positions FY positions FY09 – $2,040 tax bill FY 14 –$1,875 tax bill FY09 – 97,696 residents FY 14 – 104,580 residents FY 09 – 12,531 students FY ,075 students

How New Tax Revenues are Dedicated County of Albemarle, Virginia Recommended Operating and Capital Budgets FY 2015 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

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

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

Tax Bill 2009 – 2013 (‘14 ???) Recommended: 1.7 cent increase Advertised: 4.2 cent increase 0.742$ $0.808 FOR A HOME VALUED AT $ 275,000 1,750 1,800 1,850 1,900 1,950 2,000 2,050 2, Rec2014 Adv County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

School Budget Deficit $7 million dollar deficit School Board presented a budget with almost a $7 million dollar deficit $5.8 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

Tax Implications on a $300,000 Home Tax Rate CURRENT County Executive Recommended Board of Supervisor Advertised Fully funding at 60:40 policy Tax Rate (+1.7 cents).808 (+4.2 cents).856 (+9 cents) Tax Bill $2298/yr or $191.50/mo + $51 /yr or $4.25 /mo + $126 /yr or $10.50 /mo + $270 /yr or $22.50 /mo County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

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