COUNTY OF ALBEMARLE
FY 10/11 Operating and Capital Budget Calendar
Set dates related to the development of the FY 10/11 budget
Messrs. Tucker, Davis, Foley, and Wiggans, and Ms. Vinzant
LEGAL REVIEW: Yes
October 7, 2009
ACTION: X INFORMATION:
The process of developing the County’s Operating Budget for FY 10/11 and the Capital Improvements Program (CIP) for FY11-15 is underway. The proposed calendar is 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 CIP.
Objective 5.1: Develop a comprehensive funding strategy/plan to address the County’s growing needs.
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 10/11 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, as current projections indicate. If real estate tax levies caused by the reassessment exceed 101% of the prior year’s tax levies, we will have to make adjustments to the calendar.
Because it is unlikely that the 2010 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.
FY11 Budget Calendar
Return to consent
Return to regular agenda