AGENDA DATE: 8/20/2025
TITLE:
Title
Fiscal Year 2027 Operating and Capital Budget Calendar
BODY
SUBJECT/PROPOSAL/REQUEST: Set dates related to the development of the Fiscal Year 2027 budget
ITEM TYPE: Consent Action Item
STAFF CONTACT(S): Richardson, Herrick, Ruege, Sumner, Bowman, Malcolm, Vinzant
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The process of developing the County’s Operating Budget for Fiscal Year 2027 (FY 27) and the Capital Improvements Program (CIP) for FY 27 - 31 is underway. Staff provides a proposed budget calendar on an annual basis.
STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION: Attachment A provides a preliminary budget calendar for the FY 27 budget process. The budget development calendar establishes specific dates for Board meetings and public hearings on the tax rate, the budget, and the CIP. Staff will continue to provide the public with as much notice as possible for planned community engagement opportunities, public hearings, and work sessions associated with the development of the upcoming budgets.
There are several dates that are driven by Virginia Code requirements that are reflected in the attached calendar:
• Localities with a first-half tax year collection in June may adopt the tax rate on or before May 15.
• There must be at least seven days between the public advertisement of the budget public hearing and the actual hearing date.
• There must be at least seven days between the budget public hearing and the adoption of the budget.
• Localities must provide at least seven days’ notice of, and conduct, an effective real estate tax rate public hearing if the reassessment would result in an increase of one percent or more in the total real property tax levied compared to the prior year’s real property tax levies.
• The effective real estate tax rate public hearing must not be held at the same time as the annual budget hearing.
The preliminary budget calendar for the FY 27 budget process meets the Virginia Code requirements and closely mirrors the budget process from last year, with three notable changes. The proposed calendar is two weeks shorter than the overall process for FY26 development and has one fewer Board meeting. The three proposed changes are:
• The two public hearings on the Board’s Proposed Budget and the advertised real estate tax rate are recommended to be held on the same date. The hearings will be held separately at different times to comply with State Code requirements.
• The budget is recommended to be adopted and appropriated during a special meeting of the Board. This will shorten the budget process by two weeks compared with last fiscal year.
• The Board is recommended to have four scheduled work sessions on the FY 27 budget, consistent with past years, with an optional work session #5 on the calendar. This removes an optional #6 work session, which the Board has not utilized for the past 3 fiscal years.
BUDGET IMPACT: There is no budget impact associated with this agenda item.
RECOMMENDATION:
Recommendation
Staff recommends that the Board adopt the preliminary budget calendar set forth in Attachment A.
ATTACHMENTS:
A - Preliminary FY 27 Budget Calendar