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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 8, 2010 <br /> Action Agenda <br /> Item No. 2 <br /> SUBJECT: FY 2010-11 Budget Work Session <br /> DEPARTMENT: County Manager and Financial PUBLIC HEARING: (Y/N) No <br /> Services <br /> ATTACHMENTS): INFORMATION CONTACT: <br /> Attachment 1. FY 2010-11 Projected Budget Frank Clifton, (919) 245--2300 <br /> Funding Issues .` i Clarence Grier, (9'19) 245-2453 <br /> PURPOSE: For the Board to make decisions regarding development of the FY 201 0-11 <br /> budget. <br /> BACKGROUND: <br /> 1) Current Year Fiscal Update <br /> ■ Recommended Board Action - The County Manager recommends the Board <br /> receive an update from staff regarding the County's current FY 2009--10 fiscal <br /> status. <br /> a) Revenues - Overall revenue collections are ahead of where they should be at <br /> this point in the fiscal year. <br /> i} Real Property Taxes - Preliminary reports indicate property tax revenues <br /> year-to-date are ahead of the prior years' collection rates. Of the $122.3 <br /> million budgeted for real property taxes, the Tax Administration Office has <br /> collected about 100.5% of total budget or $'123 million as of March 31, 20109 <br /> an increase of$5.5 million over the previous fiscal year. <br />