Budget information is below for your readership pleasure.
The overall budget increase is 8.5% over last year. AWESOME, LOWER THAN HOUSING!!!! (angry face)
RECOMMENDED COUNTY EXECUTIVE BUDGET OVERVIEW RELEASED
Albemarle County today released an overview of the County Executive’s Recommended FY 08/09 Budget. A copy of the recommended budget overview is available on the county website at www.albemarle.org/budget or in the Office of Management and Budget on the first floor of the County Office Building. The County Board of Supervisors will hold worksessions on the budget on February 13 and 20 and a preliminary public forum on budget priorities on Wednesday evening, February 20, beginning at 6:00 pm at the County Office Building McIntire Road.
Highlights of the recommended budget include:
- The total Operating and Capital Budget is $331,442,514
- Operating Budget is $268.7 million, an increase of $5.5 million (2.1%) over FY 07/08
- Capital Budget is $49.1 million, an increase of $20.1 million (69.5%) over FY 07/08, due primarily to three school renovation/expansion projects, urban infrastructure and transportation projects
- The combined Operating and Capital Budget is an 8.5% increase over FY 07/08
- The budget is built on the current real property tax of $0.68/100 of assessed value.
- 60% of new local tax revenue is allocated to schools for a total of $99.4 million, a $0.9 million (0.9%) increase over FY 07/08
- $0.9 million in new revenue is allocated to public safety initiatives
The budget is built on the current real property tax rate of $0.68/$100 of assessed value. - The revenue sharing agreement with the City of Charlottesville totals $13.6 million, a 3.2% increase from last year
- The budget funds increases in committed obligations like revenue sharing, compensation, regional jail and courts with reductions in other operational areas to stay within minimal new revenues
- The budget is focused on continuing the delivery of essential services, with no enhancements to existing services except public safety priorities already identified by the Board of Supervisors
- The budget reflects county reform and efficiency efforts – additional review will be ongoing in the year ahead
- This budget reduces the transfer from the General Fund to the CIP from the equivalent of two cents on the tax rate to one cent, however this reduction will not impact projects in the proposed 5-year CIP
- The budget includes a 3.35% market increase in employee compensation
- This annual budget is developed under the guidance of the recently adopted Five Year Financial Plan which helps set general direction, establish priorities to respond effectively to long-range economic conditions and maintain the County’s strong financial standing
Related posts:
- Budget Cuts & Misdemeanors
- Sign of Our Times Part 7: Unemployment Rates Rising and Charlottesville Budget Problems
- Dumbest Idea of the Year
Snooooooooooore. I’m sorry, were you posting something?
Hey it’s boring.. i know! That’s the reason for the 1 sentence and then the continue reading..
Some people may care.. future tax increase? I THINK SO.
It does seem irresponsible to increase the budget at a time when revenue is less. I know next to nothing about these things, but maybe new housing construction in the county will help to make up for some of the needed revenue? I’m wondering why assessments went down in Albemarle county, but went up in the city. (Mine went up, anyway.)
Sounds like their priorities are right, at least. School renovation/expansion and public safety sound like winners to me. And at least they provided some cost of living increase for their people.
The media never reports the whole story. For example a starting teacher will make around 38K. Then the County pays 100% of their retirement and almost all of their medical and dental. This doesn’t include the step increase that most teachers get for being there one more year.
I’m not saying teacher don’t deserve raises- just that by the County paying the full increase in medical and retirement most of the “cost of living” ihas been covered before you start talking about salary. So when you see that teacher will be getting “just” a 4% increase you aren’t getting the whole story.
Something people should really be concerned with is that the county still pays the city for the “revenue sharing agreement.” That was done in the 80s to prevent the city from annexing county land, but the General Assembly took away the ability to annex 2 years after the agreement was signed. So now the county is paying the city for no reason other than they signed an agreement. It is commendable to honor the agreement (and legally required), but it costs some major bucks! The true intent of the agreement is no longer valid.
patience I was absolutely stunned that my assessment went up so much. More than any previous year. Am i missing something? I thought everything was supposed to be plummeting, or at least stagnating. And is there some chap (I imagine he has a monacle) that spends his year cruising around the city assessing every house? Is there a crack “assessment” crew? Is it doone by some sort of mathematical formula? Whim?
/tain’t financially book learnt
I think city went up or at least wasn’t hurt as much by the “mortgage crisis.” Some parts of the county had assessments go up too, but other parts went down. I know that mine went down by 1.8%.
I’m not sure about the monocle man.
Belmont yo–it is the curse of living in Belmont. This neighborhood is indelibly associated with rising property values. I think your monacled friend reflexively raises assessments on any property listed as being in Belmont, and will continue to do so in perpetuity.
this guy?
(i have no idea if this is how to link to or post a picture- forgive me)
http://newsimg.bbc.co.uk/media/images/41408000/jpg/_41408721_peanuts_ap416.jpg
There’s no crew that goes around the city assessing homes, I’m pretty sure. C-Ville real estate is totally disconnected from reality.
everybody’s assessment went up drastically, mostly because the city hadn’t re-assessed in years, even to account for normal inflation. they did this year and turns out somebody raised hell about it, because we all got a form from the city offering a partial refund. did you fill out your form?
oh, by the way, refund: the george bush money explosion is about to hit your mailbox! i feel like a kid whose father left him at a young age, then made a dramatic and emotional reappearance on his 29th birthday… to bring him a hooker! and the hooker had clap.
sea liver cant be that guy, he lives in the assisted living facility across the street
WizardSleeve but by which method is it disconnected from reality… “fuzzy math”, “wild guess” or “vehement denial”?
parlie I am pretty sure I get one of those reassessment dealies in the mail every year. Then my taxes go up, and on the larger amount, my property tax escrow account falls short, the difference is rolled into next year’s payment, and my monthly mortgage goes up. Im no financial wizards sleeve… but I pretty sure thats why I work two jobs and am still eating ramen. Need a ramen review?
Seriously. 33k in one year? This is Rancho Notso Grande were talking about. It looks like a white trash palace on the outside, and I know there’s been no crews, monocled or otherwise, inside, where that actual upgrades are taking place. I am so screwed next year. I’ll be eating individual ramen noodles. Equity don’t buy groceries baby.
i am not that guy.
I didn’t get a form offering a partial refund.