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Albemarle Supervisors Adopt FY 2011/12 Operating and Capital Budgets, Set Tax Rate

The Albemarle County Board of Supervisors today adopted the FY11/12 Operating and Capital Budget. The budget totals $304,473,215 and is balanced on the existing tax rate of 74.2, resulting in a tax decrease for the average property owner for the second year in a row.

“Last year our budget process focused on significant reductions and repositioning as we faced a second year of major revenue declines coupled with increases in mandates,” said County Executive Tom Foley.   “This year many local revenue sources have stabilized and while we have not regained those lost revenues we are not faced with the unprecedented imbalances of the past two budgets.  We are living within the constraints of recent reductions and are focused on cost savings and resource reallocation as both a reaction to economic conditions and as a fundamental organizational transformation.”

Major budget highlights include:

General Fund Highlights:

  • Eliminates three additional positions for total of 66 positions eliminated or frozen
  • Unfreezes two police officer positions, Finance Account Clerk and Deputy Director of Social Services to support essential services
  • Decrease in employer health insurance contributions saving $274,089
  • 1% increase to most community agencies
  • 1% stabilization fund and contingency reserve fund
  • Reserves funding for operating Ivy Station beginning in FY 13
  • 1% market increase for employees, first increase since FY 08/09

School Budget Highlights:

  • School Board request is fully funded
  • Total overall School Operating Budget of $144,565,398, an increase of $1,701,765 or 1.2%
  • Total local support for operations of $97.2M which is consistent with policy on 60/40 split of new revenues

Capital Budget Highlights:

  • Total overall Capital Budget of $18.6M
  • Primarily addresses capital maintenance needs
  • $484,222 one time funding for VDOT Revenue Sharing Road program

New facilities:

  • Ivy Fire/Rescue Station
  • Phase II, Greer Elementary Addition

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