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A motion was made by Commissioner Halkiotis, seconded by Commissioner Foushee to adopt the Resolution, which is incorporated by reference, setting the date for a public hearing, authorizing the Finance Director to file a Debt Statement and authorizing the Clerk to publish a Notice of Public Hearing. VOTE: UNANIMOUS 3. 2005-06 County Operating Budget Matters a. Revenues (including but not limited to Revaluation, anticipated federal and state funding cuts, charges for services and other major revenue sources) John Link went over the major revenue elements in the budget and his recommendations for modifying the tax rate downward (pink sheets). He made reference to mental health and said that the State will not act on new service definitions for mental health until October 1St at the earliest. Budget Director Donna Dean gave a recap on revenue. The overall tax base is $12 billion, which reflects a 19% increase aver the $10 billion that was used to plan the current budget. One cent on the tax rate is projected to produce $1,187,580. On the non-property tax side of the revenue picture, they increased about $4.8 million. Of that increase, intergovernmental revenues mainly associated with Social Services functions made up about $1.4 million. Sales taxes increased a little over $700,000. Other revenues such as investment earnings have either remained stable or have decreased. No fund balance has been appropriated, and the amount appropriated in the current year to date equates to $2.2 million. Commissioner Jacobs asked about the estimate of the fund balance and Ken Chavious said that it is about 8.5%, which equates to about $11.5 million. Chair Carey arrived at 7:47. Commissioner Gordon asked for a copy of this revenue summary. Commissioner Halkiotis asked if anything has changed with regard to anticipated federal and state funding cuts. Donna Dean said that they have not heard anything over the last two to three weeks. Commissioner Halkiotis asked that this, along with charges for services, be included in the revenue summary that Commissioner Gordon asked for. b. Review Menu of Possible Modifications to the FY 2005-06 Manager's Recommended Budget John Link said that he has provided alternative scenarios for possible modifications to the FY 2005-06 budget (pink sheet) and the methodology for the tax rate. He pointed out the paragraphs at the top of the handout. He said that they tried to be judicious about areas taking too big of a cut. Commissioner Gordon pointed out the yellow sheet from her, as shown below. COMPARISON OF CAPITAL APPROPRIATIONS -JUNE 12, 2005 The Manager's Presentation for the Budget Public Hearing included a chart entitled "Comparison of Capital Appropriations" which made comparisons between the Original 2004- 2005 Budget and the Recommended 2005-2006 Budget. The chart assumed