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