Orange County NC Website
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Summary of Responses to Recession (cont.) <br />^ 7 counties implement mandatory furloughs <br />^ 31 of 100 counties see assessed value above market value <br />(Unprecedented in 20+ years of calculating market to av <br />ratio) <br />^ 2009-10 sales taxes nearly 5% below 2008-09 <br />^ 48 counties rely on fund balance to help offset budget deficit <br />in 2010 <br />^ 20 counties use fund balance to replace lottery funds <br />(Source: NC Association of County Commissioners) 5 <br />What Does Our State Legislature <br />Face? <br />The 2009-10 budget included: <br />^ Loss of $1.3 billion in temporary taxes <br />^ Loss of $1.6 billion federal stimulus dollars <br />^ Loss of $0.3 billion in non-recurring budget reductions <br />(Source: NC Association of County Commissioners) <br />s <br />3 <br />