COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

FY 09/10 Budget Calendar

 

 

SUBJECT/PROPOSAL/REQUEST:

Set dates related to the development of the FY 09/10 budget

 

 

STAFF CONTACT(S):

Messrs. Tucker, Foley, Davis, Wiggans, and Ms. Vinzant

 

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:

October 1, 2008

 

ACTION:                INFORMATION:   

 

CONSENT AGENDA:

  ACTION:   X          INFORMATION: 

 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 

 

BACKGROUND:

The process of developing the County’s Operating Budget for FY 09/10 and the Capital Improvements Plan (CIP) for FY10-14 is underway. The proposed calendars are provided to the Board 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 calendars.  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 the adoption of the budget.  During the 2007 session of the General Assembly, legislation was enacted that requires localities to provide 30 days minimum notice of the tax rate public hearing if the reassessment would result in an increase of one percent or more in the total real property tax levied compared to 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.

 

Attachment A provides a preliminary budget calendar for the FY 09/10 budget process that conforms to the Virginia Code requirements and meets the School Board’s request. This calendar can be used if real estate tax levies caused by the reassessment are less than 101% of the prior year’s tax levies.

 

Attachment B is an alternative preliminary budget calendar for the FY 09/10 budget process that conforms to the Virginia Code requirements, meets the School Board’s request and meets the 30 day notice requirements triggered if real estate tax levies caused by the reassessment exceed 101% or more of the prior year’s tax levies.  This alternative schedule would only be necessary this year if the reassessment picture changes dramatically.

 

RECOMMENDATIONS:

Because it is unlikely that the 2009 reassessment will require the 30 day notice for the tax rate public hearing, staff recommends that the Board adopt the preliminary budget calendar set forth in Attachment A.

 

ATTACHMENTS

Attachment A – FY 09/10 Budget Development Calendar

Attachment B – Alternative FY 09/10 Budget Development Calendar
Return to consent agenda
Return to regular agenda