AGENDA DATE: 4/17/2018
TITLE:
Title
Approval of Calendar Year 2018 Tax Rates and Adoption of the FY 19 Operating and Capital Budget
BODY
SUBJECT/PROPOSAL/REQUEST: Request Board approval of the Calendar Year 2018 Tax Rates and adoption of the FY 19 Operating and Capital Budget
ITEM TYPE: Regular Action Item
STAFF CONTACT(S): Richardson, Walker, Letteri, Kamptner, and L. Allshouse
PRESENTER (S): Lori Allshouse
LEGAL REVIEW: Yes
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: On February 16, 2018, the County Executive presented the Recommended FY 19 Operating and Capital Budget to the Board of Supervisors. On February 20, 2018, the Board held a Public Hearing on the County Executive's Recommended Budget and then had several public Work Sessions and Town Hall meetings. On March 5, 2018, the Board authorized the advertising of a $0.839/$100 real estate tax rate for the 2018 Tax Year. On April 10, 2018, the Board held a Public Hearing on the Board of Supervisors' Proposed Budget. During the April 17 meeting, there will be a Public Hearing on the 2018 Tax Year tax rates.
STRATEGIC PLAN: Mission: To enhance the well-being and quality of life for all citizens through the provision of the highest level of public service consistent with the prudent use of public funds.
DISCUSSION: The FY 19 Operating and Capital Budget for the Board's approval on April 17, 2018 totals $432,240,800 and is based upon the proposed real estate tax rate of $0.839 per $100 of assessed value for the 2018 Tax Year. This is an increase of $3,740,426 over the County Executive's Recommended Budget of $428,500,374 and reflects changes made during the Board's work sessions and changes to be discussed with the Board on April 17, 2018. The revenue and expenditure changes totaling $3,740,426 made to the County Executive's Recommended Budget are summarized on the following table:
Revenue Adjustments
Source
Fund
Amount
Local Revenue
General Fund
956,290
Use of Fund Balance
Capi...
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