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Commission Capsule - June 5, 2012
Budget Adopted
The Board of County Commissioners adopted an operating budget for Fiscal Year 2012-2013 totaling $1.4 billion resulting in a property tax rate of 79.22 cents, the lowest rate since 2005. 

Charlotte Mecklenburg Schools will get $335 million (about $9 million more than FY12), with $18.5 million held in restricted contingency until the school system provides evidence that CMS employees receive a three percent salary increase. Central Piedmont Community College will receive $27.1 million. Park and Recreation received an additional $2.2 million for sustaining operations and to fund the opening of two new parks. The Library system gets an additional $1.4 million for sustaining operations and to restore Sunday operations at the regional libraries. Funds totaling $2.7 million were budgeted to begin the transition to a fully County-run Public Health Department. The Board approved funds for County employee benefits that include pay-for-performance raises averaging three percent, an increase in the County match for employee 401K/457 plans and the County will pay for the increase in the annual cost of employee insurance premiums.

Tax bills using the new tax rate will be sent to property owners this fall. To calculate what your bill will be just divide the tax value of your property by 100 and multiply the result by 79.22 cents. The owner of a $200,000 home will pay about $1,584. Complete budget details.

Capital Project Budget
In addition to the operating budget, the Board approved 13 Capital Projects totaling $130.4 million for school construction and renovation, parks, CPCC and land purchase. Much of the money had been previously approved in bond referenda by the voters. Pay-as-you-go and other funds also will be used to pay for the capital projects.

Other financial decisions made by the Board at this meeting include:
-Approval of revisions to the Capital Improvement Program process
-Approval of change to the County Debt Policy
-Approval of revisions to the Fund Balance Policy

Details of these financial decisions can be found here.

Revaluation Review
The Board approved an RFP for an outside vendor to review the County’s 2011 Revaluation process. The timetable for the review has the County Manager coming back to the Board with the name of the reviewer by the Board’s July 3 meeting. Details.

The Board has one more regular meeting in June and then it goes on its summer schedule of one meeting per month through September. Full 2012 schedule.


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