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1 <br /> APPROVED 6/6/2017 <br /> MINUTES <br /> BOARD OF COMMISSIONERS <br /> BUDGET PUBLIC HEARING <br /> May 11, 2017 <br /> 7:00 p.m. <br /> The Orange County Board of Commissioners met for a work session on Thursday, May 11, <br /> 2017 at the Whitted Building in Hillsborough, N.C. <br /> COUNTY COMMISSIONERS PRESENT: Chair Dorosin and Commissioners Mia Burroughs, <br /> Mark Dorosin, Barry Jacobs, Earl McKee, Mark Marcoplos and Renee Price <br /> COUNTY COMMISSIONERS ABSENT: Commissioner Penny Rich <br /> COUNTY ATTORNEYS PRESENT: <br /> COUNTY STAFF PRESENT: County Manager Bonnie Hammersley, Deputy County Manager <br /> Travis Myren and Deputy Clerk to the Board David Hunt (All other staff members will be <br /> identified appropriately below) <br /> Chair Dorosin called the meeting to order at 7:00 p.m. <br /> 1. Opening Remarks <br /> PUBLIC CHARGE <br /> Chair Dorosin dispensed with the reading of the Public Charge. <br /> 2. Presentation of County Manager's Recommended FY 2017-18 Budget <br /> Bonnie Hammersley made the following PowerPoint presentation: <br /> FY2017-18 <br /> COUNTY MANAGER <br /> RECOMMENDED BUDGET <br /> FY17-18 Recommended Budget <br /> • Expenditures — Revenues -Tax Rate <br /> • Assumptions <br /> • Initiatives <br /> • School Funding <br /> • Outside Agencies <br /> • Fire Districts <br /> 2017 Tax Year Revaluation <br /> ■ The revaluation resulted in a 6.5% increase in real property value, increasing the <br /> property tax base by over$1 billion to $16.8 billion. <br /> ■ Since the County's overall tax base increased, the County's revenue neutral rate <br /> decreases from 87.80 cents per$100 of value to 83.77 cents per$100 of value. <br /> Budgeted Expenditures and Revenues (graph) <br /> Budget Assumptions <br /> ■ Revenue Neutral Rate = .8377 <br />