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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 7, 2008 <br />SUBJECT: Annual Operating Budget and Long-Range Capital Plan Work Session <br />DEPARTMENT: Budget <br />PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Attachment 1. October 18. 2007 Preliminary <br />Fiscal Outlook. Fiscal Year 2008-09 and Beyond <br />Attachment 2. 2008-09 Preliminary Budget <br />Drivers <br />Attachment 3. County Debt Capacity Chart <br />Attachment 4. Unfunded County and Schools' <br />Capital Protects <br />Attachment 5. Staff Response to <br />Commissioner Gordon's Request for <br />Clarification <br />Attachment 6. Summary of DSS/Health Space <br />Needs Options <br />INFORMATION CONTACT: <br />Donna Coffey, (919) 245-2151 <br />PURPOSE: To continue discussions of emerging fiscal challenges and budget drivers that will <br />likely affect the upcoming 2008-09 fiscal year annual operating budget and 2008-18 Capital <br />Investment Plan. <br />BACKGROUND: <br />1. Annual Operating Budget - Budget Drivers <br />Tonight's Objective: Review information provided at the October 18, 2007 work <br />session (Attachment 1) and preview preliminary budget drivers that will likely impact <br />development of the County's annual operating budget for fiscal year 2008-09 <br />(Attachment 2). No Board decisions are required or expected on this topic at this <br />work session. <br />On October 18, 2007, staff presented preliminary fiscal information that outlined historical <br />revenue and expenditure trends (Attachment 1). The purpose of that work session was to <br />share historical fiscal trends with the Board and to preview how State legislative action, <br />including the 2007 Medicaid Relief/Sales Tax Swap and new Local Revenue Options, along <br />with a slowing economy will impact the County's annual operating budget and future tax <br />rates. <br />While it is still early in development of the County's budget, preliminary analysis indicates <br />that the Board will face a number of funding challenges this spring. Attachment 2 of this <br />agenda abstract, 2008-09 Budget Drivers, offers a preliminary list of the challenges staff