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ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 5, 2009 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: FY 2009-10 Budget Update <br /> DEPARTMENT: County Manager and Budget PUBLIC HEARING: (YIN) No <br /> ATTACHMENT(S): <br /> Attachment 1. Funding Matrix Sorted by INFORMATION CONTACT: <br /> Mandated and Discretionary Laura Blackmon, (919) 245-2300 <br /> Donna Coffey, (919) 245-2151 <br /> Attachment 2. Community Service <br /> Departments - FY 2009-10 <br /> Departmental Budget <br /> Summaries and Service <br /> Reduction Impact Statements <br /> PURPOSE: For the Board to receive an updated FY 2009-10 fiscal outlook and <br /> comment on proposed changes to and possible elimination of County services. <br /> BACKGROUND: <br /> 1) FY 2009-10 Budget Outlook <br /> Recommended Board Action — The County Manager recommends the <br /> Board receive information regarding the County's preliminary fiscal outlook <br /> for FY 2009-10. <br /> Current Federal, State and local government fiscal landscapes are in constant <br /> flux right now. Each day brings news that is not optimistic. <br /> • Revenue Update — There has been a flurry of recent budget reductions <br /> passed on from the State to local governments and school districts. In <br /> addition, staff learned late this week of State plans to balance current and <br /> next year budgets by withholding revenues owed to local governments. <br /> Details of potential withholdings are unfolding as this agenda is being <br /> prepared. <br /> According to information received during a conference call with NC <br /> Association of County Commissioners (NCACC) staff, the State plans to <br /> sequester some portion of current year Public School Building Funds <br /> (PSBF) and Lottery proceeds. In Orange County, PSBF revenue offsets <br /> the cost of debt repayment for school related projects while Lottery <br /> proceeds fund some facility renovation projects in each school district. <br />