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APPROVED 8/18/2009 MINUTES <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> BUDGET WORK SESSION <br /> May 28, 2009 <br /> 7:00 p.m. <br /> The Orange County Board of Commissioners met for a Budget Work Session on <br /> Thursday, May 28, 2009 at 700 p.m. in the Southern Human Services Center in Chapel Hill, <br /> North Carolina. <br /> COUNTY COMMISSIONERS PRESENT: Chair Valerie P. Foushee, Vice-Chair Mike <br /> Nelson and Commissioners Alice Gordon, Pam Hemminger, Barry Jacobs, Bernadette Pelissier, <br /> and Steve Yuhasz <br /> COUNTY COMMISSIONERS ABSENT: <br /> COUNTY ATTORNEYS PRESENT: <br /> COUNTY STAFF PRESENT: County Manager Laura Blackmon, Assistant County <br /> Managers Willie Best and Gwen Harvey, and Clerk to the Board Donna S. Baker (All other staff <br /> members will be identified appropriately below) <br /> NOTE: ALL DOCUMENTS REFERRED TO IN THESE MINUTES ARE IN THE PERMANENT <br /> AGENDA FILE IN THE CLERK'S OFFICE. <br /> • Overview of Annual Operating Budget Revenues <br /> ➢ Financial Impacts of Reducing Tax Rate Below Revenue Neutral <br /> Laura Blackmon said that she wanted to review the budget revenues and the impacts of <br /> going lower than the revenue neutral tax rate. <br /> Donna Coffey made reference to the colored sheets at the Commissioners' places of <br /> budget impacts that are coming down from the State. <br /> Orange County, NC <br /> FY 2009-10 <br /> Manager's Recommended Budget <br /> Budget Work Session <br /> May 28, 2009 <br /> Southern Human Services Center, Chapel Hill, NC <br /> FY 2009-10 General Fund Revenues <br /> Recommended Budget Totals $177,589,039 (bar graph) <br /> FY 2009-10 Revenue Projections <br /> What Happened Between March and May 2009? <br /> •In March, impact of Revaluation was uncertain <br /> •March 2009 real property valuation estimates were fiscally conservative because <br /> Revaluation appeal filing process had not concluded <br /> •March 2009 revenue projections reflected activity for 8 months or less of fiscal year <br /> •Tax collection rates have improved since March 2009 <br /> •Currently on target or slightly higher than prior years' activities <br /> •Sales tax reimbursements from State have improved <br />