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3 <br /> 1 Clarence Grier recognized Donna Coffey, as this was her last budget cycle with Orange <br /> 2 County. <br /> 3 <br /> 4 c. Presentation of Manaper's Recommended Fiscal Year 2010-11 Annual <br /> 5 Operatinq Budqet <br /> 6 The Board received the Manager's Recommended FY 2010-11 Annual Operating <br /> 7 Budget. <br /> 8 Frank Clifton said that the County Commissioners recognized beginning last fiscal year <br /> 9 the hurdles that they would be facing this year. The Board's direction to him was the desire to <br /> 10 bring back a balanced budget with no tax increase. He said that there are only two <br /> 11 departments that will not have fewer employees than last year—Child Support Services and <br /> 12 EMS, which are adding needed staff to improve response time. He said that the County relies <br /> 13 heavily on property taxes for its revenue. He said that over the last few years, the County has <br /> 14 drawn down its fund balances, but this is not a good practice in the long term. He has tried to <br /> 15 move the fund balance to about 10-12%. He said that if there is not more economic <br /> 16 development, the County will rely more heavily on the property tax. <br /> 17 Clarence Grier and Michael Talbert made the PowerPoint presentation. <br /> 18 <br /> 19 County Manager's Recommended 2010-11 Annual Operating Budget <br /> 20 Presentation I <br /> 21 Southern Human Services Center, Chapel Hill <br /> 22 Orange County, NC <br /> 23 May 18, 2010 <br /> 24 <br /> 25 Recommended General Fund Budget <br /> 26 ❑Totals $174.9 million <br /> 27 ■Decrease of$2.7 million from original current year budget of$177.6 million. <br /> 28 Represents an $8.9 million decrease from the current year amended budget. <br /> 29 <br /> 30 ■Represents 1.5 percent decrease from previous year original budget. <br /> 31 ❑Budget decreases means everyone—schools, non-profit agencies, and county <br /> 32 departments - receive less money next year than they received this year <br /> 33 <br /> 34 Guiding Principles <br /> 35 ■Meets Board directives <br /> 36 ❑Balances County's operating budget without a property tax rate increase <br /> 37 ❑Fund local school districts at 48.1% of the County's General Fund <br /> 38 <br /> 39 Proposed Ad Valorem Tax Rate Effective July 1, 2010 <br /> 40 ❑Recommended tax rate of 85.8 cents per$100 of assessed valuation <br /> 41 ■This is the rate that produces $132 million in property tax revenues for FY2010-11 <br /> 42 ■Overall Property valuation increased 1.1% <br /> 43 ❑One cent on property tax estimated to generate $1,521,612 <br /> 44 <br /> 45 Sales Tax Revenues <br /> 46 ❑Recommended Sales Tax Revenues of$14.4 million is 14.3% less than the $16.8 million <br /> 47 budgeted in 2009-10 <br /> 48 ■Actual sales tax revenues are down over 30% since the peak of$22.5 million in fiscal <br /> 49 2007-08 <br /> 50 ■The Medicaid - Sales Tax swap will limit future growth of Sales Tax Revenues <br />