HomeMy WebLinkAboutAgenda - 01-27-2015 - 31
ORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: January 27, 2015
Action Agenda
Item No. 3
SUBJECT: FY 2015 -16 Budget Assumptions /Fiscal Outlook /Budget Update
DEPARTMENT: Finance and Administrative PUBLIC HEARING: (Y /N) No
Services
ATTACHMENT(S):
FY 2015 -16 Budget Orientation
PowerPoint Presentation
INFORMATION CONTACT:
Bonnie Hammersley, 919 - 245 -2306
Paul Laughton, 919 - 245 -2152
PURPOSE: To receive FY 2015 -16 Budget Assumptions /Fiscal Outlook /Budget Update
information.
BACKGROUND: As the County enters the upcoming FY 2015 -16 Budget process, the County
Manager and Finance and Administrative Services staff will provide budget information related
to financial projections, the FY 2015 -16 Budget process and goals, Budget assumptions of
revenues and expenditures, and Budget guidelines given to County departments in preparing
their Budget requests for FY 2015 -16.
FINANCIAL IMPACT: There is no financial impact associated with receiving this information.
RECOMMENDATION(S): The Manager recommends that the Board receive the information
and provide feedback to staff.
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1
FY2015 -16
BUDGET
ORIENTATION
01� O\�ti
PRESENTATION OUTLINE
■ Financial Overview
■ Financial Projections
■ FY2015 -16 Budget Process
M
FY2015 -16 BUDGET GOALS
■ Structurally Balanced Budget
■ Implement Team Approach
■ Enhance Transparency and
Communication
■ Maintain or Improve Service Levels
(A
C
GENERAL FUND GROWTH
$ 205
$ 200
$195
$190
$185
$180
$175
$170
$165
$160
$192
$186
18 $182
17 $
$175
iIII
2011
■ Original
!707
$20
$197
y
$191
2012 2013 2014 2015
Amended
GENERAL FUND REVENUES
$200
$195
$190
c $185
$180
$175
$170
$165
2009 2010 2011 2012 2013 2014 2015
Actual
Budget
GENERAL FUND EXPENDITURES
N
i
0
$205
$200
$195
$190
$185
$180
$175
$170
$165
$160
1E
0
$200
2009 2010 2011 2012 2013 2014 2015
■ Actual
■ Budget
GENERAL FUND APPROPRIATED
FUND BALANCE
$12
$8
a $6 $5
0
$4
$2
$2 $1
$10
2009 2010 2011 2012 2013 2014 2015
BUDGET ASSUMPTIONS
■ State Impact
■ Local Revenue
■ Cost to Continue
10
STATE BUDGET IMPACT
■ Social Services
■ Public Safety
■ School Funding
■ Weakening Revenue
11
MODEST REVENUE GROWTH
■ Property Taxes
■ Sales Tax
COST TO CONTINUE 12
■ Personnel Cost
✓ COLA
✓ WPPR one time
■ Benefits
✓ Health Insurance
✓ Retirement
■ Ongoing Obligations
✓ CPI impact
■ Reserve Levels
✓ Actuarial requirement
✓ Financial Policies
13
BUDGET GUIDELINES
■ Maintain Current Appropriation
■ BE CREATIVE
■ Present at least one (1) collaboration
opportunity
FY2015-1 9 BUr
14
�T SCHEDULE
Due Dates
FY 2015 -16 Operating Budget Discussion with Department Directors
December 11, 2014
FY 2015 -16 Budget Orientation Meeting
January 8, 2015
Operating Budget Kick -off Meetings for Departments
January 14 & 15, 2015
Revenues & Expenditures Request Due
February 18, 2015
Manager Meetings With Department Heads to Discuss Budget Requests
March /April 2015
Preliminary Budget Due to Manager
May 1, 2015
Budget Work Session
May 14, 2015
Manager Presents Fiscal Year 2015 -16 Annual Operating Budget to
Board of County Commissioners
May 19, 2015
Budget and Capital Investment Plan Public Hearings
May 21, 2015
May 28, 2015
Budget Work Sessions
June 4, 2015
June 9, 2015
June 11, 2015
FY 2015 -16 Operating and CIP Budget Adoption
June 16, 2015
Contingency Planning with Department Directors
July 2015
15
CONCLUSION
Orange County exists to provide governmental services requested by our
Residents or mandated by the State of North Carolina.
To provide these quality services efficiently, we must;
• Serve the Residents of Orange County — Our Residents Come
First;
• Depend on the energy, skills, and dedication of all our employees
and volunteers;
■ Treat all our Residents and Employees with fairness, respect, and
understanding.
Oranze County Residents Come First