BC 2014 04 15 Special Meeting - Laserfiche WebLink

Home Browse Search

April 15, 2014 (Special Meeting) Page 1968 The Board of Commissioners for the County of Cabarrus met for a Special Meeting in the Multipurpose Room at the Cabarrus County Governmental Center in Concord, North Carolina on Tuesday, April 15, 2014 at 3:00 p.m. Present - Chairman: Elizabeth F. Poole Vice Chairman Larry M. Burrage Commissioners: Christopher A_ Measmer Stephen M. Morris Jason A. Oesterreich Also present were Mike Downs, County Manager; Richard M. Koch, County Attorney; Jonathan Marshall, Deputy County Manager; Pam Dubois, Deputy County Manager; Ann Wilson, Finance Director; Paarth Mehta, Budget Analyst; and Megan Smit, Clerk to the Board. Call to order Chairman Poole called the meeting to order at 3:03 p.m. County Manager - Presentation of Alternative _Financial Plans as Requested by the Board of Commissioners at the March 17, 2014 Meeting Mike Downs, County Manager, thanked Board members for their attendance at the special meeting. Mr. Downs advised that he, along with Pam Dubois, Deputy County Manager; Jonathan Marshall, Deputy County Manager; Ann Wilson, Finance Director; and Paarth Mehta, Budget Analyst will present the alternative financial plans. He also advised the three plans are displayed around the room and invited those in attendance to review them. He then presented the following preliminary budget message: Message to the Board of Commissioners I appreciate the opportunity for the staff to provide input into the proposed Five Year Plan and FY 2015 General Budget process. Before we begin our presentation, I would like to give some background on the process of developing and implementing the Five Year Plan and the General Fund Budget. FIVE YEAR PLAN The Five Year Plan is an instrument that was created by staff several years ago to provide the Board an opportunity to consider not only the current year budget, but to get an idea of the potential impacts (needs) that are known at that point in time for the next four years. Interpreting the plan correctly is very important. The first year of the plan is a reflection of the current year budget that the Board adopted or currently considering. The remaining four years are predictions designed to help set a strategic direction The Five Year Plan is a budget forecast that allows staff to provide the Board with estimated numbers and a frame of reference as to its impact on the budget in the coming years. These projected amounts include expected revenues, additional current expenses and capital needs of the County and school systems. The Five Year Plan also provides a property tax rate that will be required to fund those ensuing years, if the Board chooses to take on the additional operating and /or capital expenses With the understanding that years two through five are only forecasts, it's important to consider the many variables that can impact the outlook; changes in the economy, Board priorities, school and County capital needs, and growth /decline in the tax base can have a positive or negative impact on those future budgets and the amount of revenues (tax rate) needed to fund them. At the annual Board of Commissioners retreat in January 2014, staff presented several variations of the Five Year Plan for the Board to consider; including a plan proposed by Commissioner Oesterreich. The plans created by staff included detailed revenue and expense projections based on expert opinion, state recommendations, and historical data, and include a tax rate of (.70/100), which would be needed to continue to fund County programs and services at their current or projected levels. The .70 tax rate was extended throughout the five years for planning purposes only as the Board directs staff each year of their wishes concerning the tax rate.