Minutes 05-20-2014 - Laserfiche WebLink

Browse Search

and making this happen. He said this will have a significant impact on borrowing cost moving forward. Michael Talbert expressed thanks to the budget staff. He said this year's operating budget is $195.6 million, and there is no property tax increase. He said there is an appropriation of$8.5 million of general fund balance to balance the budget. He said this is an increase of$7.9 million from the previous year's budget. He said the budget was prepared with the Board's goals in mind. He reviewed several goals from the January retreat as follows: Goa/ 1 - Defending the quality of public education. He noted a $95 per pupil increase and the addition of 294 new students. He said the Board has as target not to exceed 48.1 percent of general fund revenues for public education. He noted that the recommended budget equals 49.3 percent. He said if all of the requests from the school system were honored, this would exceed 51 percent, so the recommendation is a balancing act. Goa/s 2 and 4— Ensure safety net services and target funding to address child poverty. He said there are two initiatives included this year to address this. He said funding is being increased in social services for daycare and general assistance, and the social justice fund is being continued. He said the health department is working on a child poverty intervention initiative, and this is also being funded. Goa/3— Funding for sewer hookups in the Rogers Road area. He said the Board will be asked to approve the preliminary engineering for the Rogers Road sewer to fund 86 homes. He said the capital investment plan also includes $3 million for the County share of that sewer in year two. Goa/5— Support a broad range of economic development. He said the Board has been very active in supporting recruitment of new industry and the retention of existing industry. He said funds from the quarter cent sales tax continue to be used in these initiatives. Goa/ 6— Consider limit to a viability of a tax increase. He said in 2010-11, the Board appropriated $401,000 to balance the budget. He said this year it is $8.5 million, which is a considerable difference; however the budget is balanced, and the County is within all of its policy guidelines. He said this trend is not sustainable and there will be tax increases in the future. He noted that there is a bond referendum being discussed for the fall of 2016, as well as property tax revaluation in January 2017 and $300 million in older school needs. He said there will be pressure on the budget in years to come. He said the budget also funds continuing strategic initiatives such as strategic plans for emergency services, information technologies and the library, as well as funding for core services. Michael Talbert said funding is also for human resources, and staff is recommending a 1.5% COLA and merit increase, as well as an increase in the 401 k match from $1200 to 1500 contribution. He said health insurance cost increases are not being passed on to employees at this point. Clarence Grier presented the following PowerPoint presentation: County Manager's Recommended FY 2014-15 Annual Operating Budget and Capital Investment Plan