BC 2011 05 24 Recessed - Laserfiche WebLink

Home Browse Search

May 24, 2011 (Recessed Meeting) Page 440 The Board of Commissioners for the County of Cabarrus met in recessed session in the Multipurpose Room at the Cabarrus County Governmental Center in Concord, North Carolina on Tuesday, May 24, 2011, at 3:30 p.m. Present - Chairman: Vice Chairman: Commissioners: H. Jay White, Sr. Elizabeth F. Poole Larry M. Burrage Robert W. Carruth Christopher A. Measmer Also present were John Day, County Manager; Mike Downs, Deputy County Manager; Pam Dubois, Deputy County Manager and Kay Honeycutt, Clerk to the Board. Chairman White called the meeting to order at 3:30 p.m. Scheduling of FY 2012 Budget Public Hearing - 6:30 p.m. - June 20, 2011 UPON MOTION of Vice Chairman Poole, seconded by Commissioner Burrage and unanimously carried, the Board scheduled a public hearing for June 20, 2011 at 6:30 p.m. to receive public comments on the Cabarrus County FY 2012 budget. Budget Workshop Agendas - 3 -Day Overview Pam Dubois, Deputy County Manager, reviewed the schedules for the upcoming budget meetings as follows: Tues., May 24 Budget Overview Tues., Budget Presentations: Education, Tourism, Economic Development, May 31 Health Alliance, Fire Districts and Sheriff Fund Balance Budget Presentations: Education - continued, Social Services and Wed., Transportation June 1 Budget Review and Update of Changes Five Year Financial Plan Pam Dubois, Deputy County Manager, reviewed the highlights of Options A and B of the 5 -year financial plan as follows: Option A Option B Property Tax Rate FY 2012: 63 cents FY 2013: 70.5 cents (revenue neutral) Property Tax Rate FY 2012: 63 cents FY 2013: 70.5 cents (revenue neutral) cent Sales Tax Option Eliminates 1 4 cent Sales Tax Option Lottery Proceeds Lottery Proceeds Fund Balance Fund Balance Expenditures Frozen at FY 2012 Levels Expenditures Frozen at FY 2012 Levels Note: The Five Year Financial Plan is a forecast of revenues and expenditures beginning with the proposed annual budget for the upcoming fiscal year. Using a five -year planning window helps ensure that commitments, obligations and anticipated needs are met in a fiscally sound manner. The Plan encompasses both operating and capital budgets for the General Fund. The forecast assumes maintaining current levels of service unless the Board took action to indicate otherwise. Economic trends and conditions are also factored into assumptions used in developing expenditure and revenue projections. Forecasts for subsequent years rely on previous year expenditures and revenues as a starting point. Increases and decreases are itemized. (This space intentionally left blank.)