Adjustments Nov. 5 Assumption Current Assumption Pennies in FY10
Tax Rate Move to effective tax rate based upon residential real estate reassessment
CY 2009 - 74.5 (3.5 increase over current rate)
CY 2010 - 75.5
No Change  
EMS Revenue Recovery Not included No Change  
Reduced operational expenditures Immediate implementation of $1 million reduction
Reduction carried through all years of model
No Change 1.9 cents needed to restore $1 million in operating reductions
Expanded Hiring Freeze By FY10: 55 Frozen or Eliminated
FY11: Unfreeze 2 (53 frozen)
FY13: Unfreeze 4 (49 frozen)
FY14: Unfreeze 8 (41 frozen)
By FY10: 47 Frozen or Eliminated
FY11: Unfreeze 2 (45 frozen)
FY13: Unfreeze 3 (42 frozen)
FY14: Unfreeze 8 (34 frozen)
4.4 cents needed to restore all 41 frozen positions (4 positions eliminated, 2 funded through fees)
Salary Increase Market + merit increases:
FY10 - 0.00%
FY11 - 3.00%
FY12 - 3.95%
FY13 & FY14 - 4.70%
No Change 3.3 cents needed to fund recommended 3.93% market increase
Increase to Agencies FY10 - 0%
FY11 - 2%
FY12 - 3%
FY13 & FY14 - 4%
No Change 0.8 cents needed to provide 4% average increase to all agencies;
0.3 cents needed to provide 4% increase to Human Services agencies only
Board-planned 5-Year Plan programs Transit funding eliminated - $200K in FY10 up to $400K No Change 0.4 cents
Affordable Housing funding eliminated - $200K in FY10 up to $400K No Change 0.4 cents
Environmental initiatives funding eliminated - $65K in FY10 up to $80,000;
This includes Environmental Mgmt System for local government only
No Change 0.1 cents
$250K per year in other new initiatives eliminated No Change 0.5 cents
Includes 2 police officers per year beginning in FY11 for a total of 8 in the 5-year period No Change 0.9 cents needed to fund 4 police officers in FY10
Operating Impact of Capital Projects Operating impacts reflect latest revised capital plan, including moving Pantops and Ivy to 2013 No Change  
Reduction in Capital Transfer 3 cent reduction in base transfer No Change 3.0 cents
Use of Board Reserve Decrease by $200,000 to $100,000 No Change  
Use of "lockbox" funds Funds split 60/40 with schools Funds used for "Rainy Day Fund" and to cover local govt. shortfall and unfreeze positions  
Rainy Day Fund for emergency school and local government needs Not included FY10-FY12: $500K
FY13: $600K
FY14: $700K
 
Projected Balances FY10 - $51,678
FY11 - $84,494
FY12 - $18,535
FY13 - $22,184
FY14 - $49,325
FY10 - $35,622
FY11 - $66,212
FY12 - $24,229
FY13 - $42,842
FY14 - $33,390
 
     

Go to next attachment
Return to exec summary