Diantha McKeel
Community Meeting
Tuesday, March 11
Discussion of FY 15 Operating
and Capital Budget and Other
Issues of Interest
www.albemarle.org/budget
Welcome & Introductions
• Welcome
• Introductions
• Format
• Materials
• Best communication ideas?
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
The Budget Process – The quiet phase
• Summer – Late Fall
General government and School division staff
prepare the budget.
This includes a review by all
departments, the capital
improvement program, and
outside agency requests
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Final Staff Recommendations
• December – February
The School Superintendent rolls out the school
budget and the County Executive puts final
thinking into the budget that will be released to
the Board of Supervisors
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
February – Public Debut
• County Executive releases the County Budget
to the Board of Supervisors and the citizens of
Albemarle at the same time…
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
February - March
• Supervisors immediately convene a public hearing on the
County Executive’s recommended budget
• …and then conduct several work sessions reviewing the
recommendations including a briefing on the School budget
• … and then (by law) advertise the highest rate it will
consider for the coming year….to begin public comment
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
March - April
• Supervisors review emails and hold town hall
meetings to gauge public opinion about the
advertised rate
• Supervisors hold a final public hearing ->April 8th
this year
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
April 15, 2014
SUPERVISORS VOTE ON THE RATE
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Exceptional Financial Management
• One of only 39 counties nationwide with a
Triple, Triple A Bond rating
• Consistently receive audit report without
findings or notations
• Financial reporting and budget awards from
Government Finance Officer Assoc.
• One of the lowest tax rates among Virginia’s
20 most populated counties
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Tax Rate – 10 Year Perspective
10-Year Real Estate Tax Rate
2005
$0.740
2006
$0.740
2007
$0.680
2008
$0.710
2009
$0.742
2010
$0.742
2011
$0.742
2012
$0.762
2013
$0.766
2014
???
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Consumer Price Index 5 Year History
Cumulative Increase: 8.3%
3.8%
3.2%
2.1%
1.6%
1.5%
-0.4%
2008
2009
2010
County of Albemarle, Virginia
2011
2012
Draft Operating and Capital Budgets
2013
FY 2015
Responding to Recession – 6 Year History
FY09 –
$333.7
million
FY09 655
positions
FY09 –
$2,040
tax bill
FY09 –
97,696
residents
FY 09 –
12,531
students
FY14 $322.5
million
FY14647
positions
FY 14 –
$1,875
tax bill
FY 14 –
104,580
residents
FY 14 13,075
students
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
How New Tax Revenues are
Dedicated
County Executive
recommendation is a 1.7
cent increase in the tax rate.
1.3 cents of this is to cover
federal and state unfunded
mandates
The remaining .4 cents of tax rate increase shores up
additional school, general government & capital needs
County of Albemarle, Virginia
Recommended Operating and Capital Budgets
FY 2015
Staff Recommended Expenditures
FY 15 TOTAL BUDGET
RECOMMENDED EXPENDITURES
$349,287,622
Gen. Govt.
Gen. Govt.
Debt
Capital
2%
6%
Gen. Govt.
Operations
30%
Total School
Division:
57%
School Debt
4%
County of Albemarle, Virginia
City
Revenue
Sharing
5%
School Div.
Operations
48%
School
Capital
5%
Draft Operating and Capital Budgets
Total General
Government:
38%
FY 2015
Revenues needed to balance Expenditures
FY 15 TOTAL BUDGET
RECOMMENDED REVENUES
$349,287,622
Use of
Fund Balance
2%
Federal Revenue
5%
Bond Proceeds
7%
Property Taxes
43%
State Revenue
22%
Other Local
Revenue
21%
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Tax Bill 2009 – 2013 (‘14 ???)
Recommended: 1.7 cent increase
Advertised: 4.2 cent increase
FOR A HOME VALUED AT $ 275,000
2,100
2,050
2,000
1,950
1,900
1,850
1,800
1,750
2009
0.742
2010
0.742
County of Albemarle, Virginia
2011
0.762
2012
0.762
2013 $0.783
2014 Rec $0.808
2014 Adv
0.766
Draft Operating and Capital Budgets
FY 2015
School Budget Deficit
• School Board presented a budget with almost a
$7 million dollar deficit
• County Executive factored in additional revenues
creating the need for a tax increase that still left a
$5.8 million dollar deficit
• Supervisors advertised a rate that, if adopted
without other provisions, will still leave a
$2.4 million dollar deficit
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015
Tax Implications on a $300,000 Home
Tax Rate
CURRENT
Tax Rate .766
Tax
Bill
County Executive Board of
Recommended Supervisor
Advertised
Fully funding at
60:40 policy
.783
(+1.7 cents)
.856
(+9 cents)
$2298/yr
+ $51 /yr
or
or
$191.50/mo $4.25 /mo
County of Albemarle, Virginia
.808
(+4.2 cents)
+ $126 /yr
+ $270 /yr
or
or
$10.50 /mo $22.50 /mo
Draft Operating and Capital Budgets
FY 2015
Closing
Help us know the best ways to communicate
through the year?
• A – Mail
• Email
• Homeowners Associations
• Public Hearings
• Town Halls
• Social Media
Thanks for coming out tonight!
County of Albemarle, Virginia
Draft Operating and Capital Budgets
FY 2015