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