BC 2006 03 11 RECESSED - Laserfiche WebLink

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March 11, 2006 - Recessed Meeting Page 522 create community wealthi respected; envy of all; consistent delivery of equitable servicesi be a world class communitYi etc. Mr. Day advised he would take the aforementioned ideas and concepts and create several mission/vision statements for the Board's consideration. At 2:43 p.m., the Board took a short break. The meeting reconvened at 2:54 p.m. Budget Projections Pam Dubois, Deputy County Manager, presented the projected outcomes for revenues and expenses for the year ending June 30, 2006. Highlights included the following: $3,451,410.00 of budgeted expenditures will not be spent in 2006; unspent interest payments for the jail construction project, the Corning Incentive Grant, and software for the Tax Department were identified as the primary areas of savings; and, increased property tax collection and underestimated sales tax revenues contributed to an additional $5,779,704.00 in revenues. Brent Weisner, Tax Administrator, reviewed the total taxable values for real property, motor vehicles, personal property and public service companies for FY 05/06. Highlights included the following: The 2005/06 Budget Estimate for total taxable value $14,204,993,340.00; 2005/06 Estimated Actual $14,727,073,238.00. The under estimation of $522,079,898.00 was attributed to changes in the N. C. General Statues for motor vehicles and appeals by Corning for real and personal property. Mr. Weisner reviewed valuations from 1994 to current and estimated a 3.66 percent increase in total assessed value for FY 2007. Ms. Dubois reconciled a $615,970.00 difference between the Five Year Plan projection and the current budgeted revenues projections (as of March 7, 2006) for FY 2007. The unpredictability of growth in property tax revenues, projected growth in sales tax revenues, growth in sales tax due to reallocation percentages, and other unforeseeable items were identified as the major contributors in the reconciliation process. Robin Barham, Budget and Organizational Performance Manager, reviewed the demands for additional spending in FY 2007 and the Five Year Plan projection. Based on the current budget projected for FY 2007 as of March 7, 2006, Ms. Barham reported a difference of $3,256,823.00 in requests from the Five Year Plan. She identified a number of major expenses that included fire department enhancements, requests for additional school funding and housing jail inmates in Alamance County. Mike Downs, Deputy County Manager, elaborated on the fire department enhancements. He reported the continuing decrease in the number of volunteers impacts a department's ability to respond to an emergency along with its response times. A $30,000.00 grant is being considered for each department in order for the departments to have someone at the station at all times. Options will be brought to the Board for consideration. New School Capital Requests Pam Dubois, Deputy County Manager, presented the following new and anticipated school capital requests totaling $37,065,748.00: $98M Bond Shortfall Gym Expansions (Furr & Boger) Current Exp. - Add. Students New Bus Garage IT Facility J. M. Robinson - Tennis Courts CC Griffith - Finish Concession Bldg. Harris Road Middle - Finish Concess. Land Purchases A. L. Brown - Classroom Addition Woodrow Wilson - Gym Addition Jackson Park - Gym Addition Land Purchases Cabarrus County $10,070,302.00. $ 300,814.00. $ 667,000.00. $ 4,500,000.00 $ 1,500,000.00 $ 1,129,722.00 $ 10,000.00 $ 10,000.00 $ 5,000,000.00 Kannapolis $ 750,000.00. $ 127,910.00. (estimated) $5,000,000.00 $3,000,000.00 $3,000,000.00 $2,000,000.00 Note: . denotes items on the March 2006 Agenda.