Agenda - 05-08-2008- - Laserfiche WebLink

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05/05/2008 Attachment 1 Preliminary Outlook of Fiscal Year 2008-09 Budget Drivers The list below is intended to give a preliminary outlook of items the County Manager is considering including in the Fiscal Year 2008-09 Recommended Annual Operating Budget. It is important to note that staff is currently finalizing the recommended budget; while the items provided in this fist are under consideration for funding in f/sca/ year 2008-09, it does not guarantee that the final recommended Budget will include all items outlined in this chart or that these are the only items under consideration. The May 8, 2008 work session provides an opportunity for the Board fo provide input and guidance regarding the items outlined in the chart. The County Manager's Recommended 2008-09 Budget will be finalized and presented to the Board at their May 20, 2008 regular meeting. 1 Fiscal Year 2007-08 Ad Valorem Tax Rate 95.00 cents per $100 valuation 2 s Anticipated Amount One Cent on Fiscal Year 2008- $1,274,655 09 Tax Rate Will Generate 4 Major Budget Drivers for Fiscal Year 2008-09 ts> Tax Rate Equivalent in Cumulative Tax Rate Needed Addition to FY 2007-08 to Fund Items Identified in Proposed Budget Increases Associated With: $ Amount Tax Rate (cents per $100 Column B (FY 2007-08 Tax valuation) Rate (95 cents per $100 valuation) Plus Increase) Increased Debt Service $3,016,693 2.37 97.37 Education Funding Increase Per Pupil Funding From Current Rate of $3,069 to $3,290 - An Increase of $221 Per Pupil (Equates to total increase of $3,574,067 for $5,411,158 4.25 101.61 Chapel Hill Carrboro City Schools and increase of $1,837,091 for Orange County Schools) l'l Full Year Funding for Durham Technical $581,601 0.46 102.07 Communit Colle e Oran e Count Cam us Transition Long-Term Temporary Positions to $210,000 0.16 102.23 Permanent Positions County's Contribution to Greene Tract Repayment $90,000 0.07 102.30 County Employee Compensation Plan Cost of Living Adjustment (Preliminary considerations include a 2% Cost of Living $800,024 0.63 102.93 Increase for all County employees, effective July 1, 2008. Each 1 % COLA increase = $400,012) In-Range Awards Based on Employee Performance (Preliminary Considerations Provide $220,710 0.17 103.10 for 1 % for Proficient and 3 % for Exceptional) Health Insurance Rate Increase for Current and Retired County Employees (Assumes 11 % Annual $363,000 0.28 103.39 Increase and No Change in Existing Plans) Open New County Facilities (Includes Staffing and Operating Costs; Does Not Include Debt Service $2,750,000 2.16 105.55 (see row 1 above) and One-Time Capital Costs (see footndte 2 below Outside Agencies Funding Recommendations from Human Services Advisory Committee (Does Not $246,629 0.19 105.74 Include $100,000 Recommendation to fund UNC Ps chiat County Operational Funding Increases Associated with Inflation and Higher Costs (Approximately 5% of $1,200,000 0.94 106.68 total o erational ex enses Total $14,889,815 11.68 ~'~ The Board may wish to consider increasing the School's Special District Tax to allow for additional funding for Chapel Hill Carrboro City Schools. ~Z~ One alternative for funding capital items is to provide aone-time appropriation from the County's Fund Balance ~3~ Among items for further consideration and discussion (not included in the chart above) include (1) outcome of the County's classification and pay study; (2) new staff not associated with opening new facilities; and (3) new County programs.