Agenda - 10-21-2002 - 3 - Laserfiche WebLink

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Adjustments to the Manager's Recommended 2002-03 Budget - On June 27, 2002, the Board of County Commissioners approved the annual operating budget for the 2002-03 fiscal year. The budget adoption followed several budget work sessions where the Board adjusted the Manager's recommendations. The information below summarizes changes made by the Board. Revenues Increase Decrease Manager's Recommended Revenue Budget $122,850,400 Reduction of State reimbursements $3,070,363 Decrease Recommended Property Tax Increase by 2 cents(from 4.5 $1,853,600 increase to 2.5'increase making approved tax rate 83 cents[an increase of 2.5 cents over the 2001-02 rate Appropriated Fund Balance $216,063 Reduce funding allocation for the following Capital Projects appropriated in prior fiscal y ears: Equipment and Vehicles $100,000 Equipment Storage $139,150 Firearms Training $125,000 Justice Facility $295,000 Recreation&Parks Improvements $75,000 Utility Extension Development $165,000 Loan Pool Reserve $75,000 Orange Enterprises $10,500 Whitted Human Services Center $60,000 Total Revenue Changes $1,260,713 $4,923,963 Revised Revenue Budget 119,187,150 Expenditures Increase Decrease Manager's Recommended Expenditure Budget 1 $122,850,400 Increase funding for Social Safety Net $190,000 6 Month Hiring Freeze $740,000 Defer contribution to School/Park Reserve $308,000 Decrease contribution to Affordable Housing Initiative $190,000 Delay County contribution to School Capital` $924,000 Delay purchase of County vehicles and computer equipment storage $811,250 Reduce funding allocation for the following Capital Projects recommended in FY 2002-03: Information Technology $160,000 Lands Legacy Project $200,000 NHSC $85,000 Orange Enterprises $15,000 Senior Centers $150,000 Southern Human Services $170,000 Whiffed Human Services Center $100,000 Total Expenditure Changes $190,000 $3,853,250 Revised Expenditure Budget $119,187,150 Note:In anticipation of the loss of state revenues,the Board reduced the school recurring capital by$924,000.