1. FY2016 - 2017 BUDGET March 8, 2016

2. Schedule  March 8 – Intro, Revenue, Planning, Police  March 22 – Town Manager, Finance, Tourism, IT, Parks, Public Works, Capital Projects Fund  April 5 – Town Manager’s Budget Presentation  May 17 – Budget Public Hearing  June 7 – Budget Adoption

3. Tax Rates Tax RateReal EstatePersonal PropertyVehicle DecalMealsLodgingBPOL Ashland $ 0.09 $ 0.77 $ 25.005.0%7.0% $ 0.070 Mean of Town $ 0.19 $ 0.57 $ 22.374.0%5.0% $ 0.175 Ashland/Hanover $ 0.90 $ 4.34 $ 25.004.0%7/8% $ 0.070 Henrico $ 0.87 $ 3.50 $ 20.004.0%8.0% $ 0.188 Chesterfield $ 0.96 $ 3.60 $ 40.000.0%8.0% $ 0.183 Richmond $ 1.20 $ 3.70 $ 23.006.0%8.0% $ 0.333 Farmville $ 0.12 $ 1.50 $ 25.007.0% $ 0.293 Blacksburg $ 0.22 $ - $ 25.006.0%7.0% $ 0.225 Abingdon $ 0.28 $ 0.55 $ 20.007.0% $ 0.170 Leesburg $ 0.18 $ 1.00 $ 25.003.5%8.0% $ 0.150 Orange $ 0.15 $ 0.83 $ 25.008.0%5.0% $ - Purcellville $ 0.23 $ 1.05 $ 25.005.0%3.0% $ 0.163 Smithfield $ 0.16 $ 1.00 $ 20.006.0%5.0% $ 0.193 Vinton $ 0.03 $ 1.00 $ 33.005.0%2.0% $ 0.253

4. Driving Forces  VRS Rate Drop from 13.16% to 10.29%  RE Assessments Increase $46,000  New Restaurants Driving Meals Up  Economic Development (Vit Shoppe, RNDC, Holland Track)  Health Insurance Premiums increase 12.9%  Tax Relief Amendment -7,300  Compensation Plan Adoption  Capital Projects Demand

5. Budget History (Numerical)

6. Budget History (Pictoral)

7. Revenue History

8. Meals Tax

9. Lodging Tax

10. Sales Tax

11. Use of Unreserved Fund Balance Budgeted TransferEstimated TransferActual TransferEnding Balance FY09 $ 429,584 $ 49,636 $ (290,226) $ 4,310,763 FY10 $ 335,461 $ 91,666 $ (569,811) $ 4,914,679 FY11 $ 386,716 $ 548,934 $ 73,638 $ 4,870,915 FY12 $ 305,813 $ 477,958 $ 136,016 $ 4,722,404 FY13 $ 590,847 $ 335,845 $ (135,030) $ 4,857,434 FY14 $ 670,769 $ 392,608 $ (350,162) $ 5,207,596 FY15 $ 778,662 $ 381,825 $ 1,320 $ 5,206,276 FY16 $ 805,501 $ 264,241 $ 4,942,035 FY17 Dept $ 1,450,463 $ 3,491,572

12. Use of Unreserved Fund Balance

13. What Causes the Spread  Vacancies  Snow, or lack there of  Conservative Revenue Forecasting  Timing of Paving Projects (VDOT eligible)

14. Summary  Tax Rates are generally low in Town  Tax collections have been strong.  Capital Project requests are the largest factor in total budget growth.  Please provide input on programs, line items, capital projects, advice for the Town Manager’s budget presentation.