COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

FY 08/09 Operating Budget Events Calendar

 

SUBJECT/PROPOSAL/REQUEST:

Calendar for the FY 08/09 Operating Budget is provided for information

 

 

STAFF CONTACT(S):

Tucker, Foley, Davis, Breeden, Vinzant

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

September 5, 2007

 

ACTION:                             INFORMATION:   

 

CONSENT AGENDA:

  ACTION:                           INFORMATION:    X

 

 

ATTACHMENTS:      Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

The process of developing the County’s Operating Budget for FY 08/09 and the Capital Improvements Plan (CIP) for FY08-12 is underway. The proposed schedule of the upcoming budget process events is sent to the Board of Supervisors to establish firm dates for Board meetings and public hearings on the budget and CIP, and to provide the public with as much notice as possible for planned community meetings, public hearings, and work sessions related to the budget and the CIP.

 

 

STRATEGIC PLAN:

Objective 5.1: Develop a comprehensive funding strategy/plan to address the County’s growing needs.

 

 

DISCUSSION:

There are several dates in the budget presentation and approval process that are driven by state code requirements and are reflected in the attached calendar.  The first is the requirement that the tax rate be adopted by April 15th for localities with a first-half tax year collection in June. In addition, the Virginia Code requires that there be seven days between the public advertisement of the budget public hearings and the actual hearing dates, and seven days between the public hearing and adoption of the budget.  However, during the 2007 session of the General Assembly, new legislation was enacted that requires localities to increase to 30 days the minimum notice that a locality must give the public of a public hearing in which the locality proposes to increase its total real estate tax levies more than 101% of the prior year’s tax levies.

 

In addition to these state requirements, the School Board has requested that the second public hearing be scheduled so that it does not coincide with Spring Break. The attached preliminary budget calendar for the FY 08/09 budget process conforms to the Virginia Code requirements and meets the School Board’s request.

 

The biggest impact of the calendar changes is the requirement to have at least 30 days between advertisement of the tax rate and the actual public hearing. This means that the Board will have to set a tax rate to go to public hearing before March 3 and prior to the normal complete budget review.   As a result, staff has added early work sessions in February to provide a budget overview in advance of having to set a tax rate for public hearing.

 

 

RECOMMENDATIONS:

No Board action is required at this time. The attached calendar is provided for information purposes only.

 

 

ATTACHMENTS

A – FY 09 Budget Calendar

Return to consent agenda

Return to regular agenda