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

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 8 th 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 10-Year Real Estate Tax Rate 2005$0.740 2006$0.740 2007$0.680 2008$0.710 2009$0.742 2010$0.742 2011$0.742 2012$0.762 2013$0.766 2014??? 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 FY09 – $333.7 million FY14 - $322.5 million FY09 - 655 positions FY14- 647 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 14 - 13,075 students

13. 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

14. Staff Recommended Expenditures Total General Government: 38% Total School Division: 57% 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. Tax Bill 2009 – 2013 (‘14 ???) Recommended: 1.7 cent increase Advertised: 4.2 cent increase 0.742$0.7830.7420.762 0.766$0.808 FOR A HOME VALUED AT $ 275,000 1,750 1,800 1,850 1,900 1,950 2,000 2,050 2,100 200920102011201220132014 Rec2014 Adv County of Albemarle, Virginia Draft Operating and Capital Budgets FY 2015

17. 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

18. 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.766.783 (+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

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