Board of County Commissioners has finished its preliminary budget discussions and will now consider the FY2008 budget ordinance on Tuesday, June 5.
From the County Manager's
recommended budget, the Board has reduced spending and/or shifted spending to non-County sources by $11.3 million, resulting in a County budget of $1.02 billion. This results in a tax increase of 2 cents per $100 valuation.
The Board adjusted several of the County Manager's recommendations including:
- Allocating an additional $9 million in lottery proceeds to CMS debt service, reducing the contribution of County tax dollars.
- Reducing Pay-as-you-go capital funding (Paygo) to $26 million.
- Increasing CPCC operations funding by $1.4 million above what was recommended by the County Manager for a total budget of $24.9 million.
- Reduced funding for the County's three reserves (fleet, technology, and capital) by a quarter cent ($2.5 million) from the 2 cents recommended by the County Manager.
The Board accepted the County Manager's recommendations to:
- Fully fund the Other Post-Employment Benefits Annual Required Contribution at $10 million. New accounting rules require the County to report its liability related to future retiree benefits. Unfunded liabilities that continue to grow could put pressure on the County's credit rating.
- Fund CMS at $337.4 million in County funding, a $25.2 million increase over last year.
for more details on what adjustments the Board made to the County Manager's recommended budget.