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Home My WebLink About2/2/2010 - Special Roanoke County Board of Supervisors Agenda February 2, 2010 Good afternoon and welcome to a special meeting for February 2, 2010.The purpose of this meeting is to have a work session to discuss fiscal year 2010-2011 budget development. th (1:00 p.m. - 4Floor Training Room) A. ROLL CALL B. REQUESTS TO POSTPONE, ADD TO OR CHANGE THE ORDER OF AGENDA ITEMS C. WORK SESSIONS 1. Work session to discuss fiscal year 2010-2011 budget development: a. Communication plan for budget information (Teresa H. Hall, Director of Public Information; Gray Craig, Web Content Manager) b. Review of County debt (Rebecca Owens, Director of Finance) c. Update on School budget for fiscal year 2010-2011 and preliminary transfer to Schools (Diane D. Hyatt, Assistant County Administrator) d. Compensation Board funding (Brent Robertson, Director of Management and Budget) e. Guidelines and objectives for operational budget development (Brent Robertson, Director of Management and Budget) D. ADJOURNMENT TO THE REGULARLY SCHEDULED BOARD MEETING ON FEBRUARY 9, 2010, AT 3:00 P.M. ACTION NO. _______________ ITEM NO. __________________ AT A SPECIAL MEETING OF THE BOARD OF SUPERVISORS OF ROANOKE COUNTY, VIRGINIA HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER MEETING DATE: February 2, 2010 AGENDA ITEM: Communication Plan for Budget Information SUBMITTED BY: Teresa Hamilton Hall Director of Public Information APPROVED BY: B. Clayton Goodman III County Administrator COUNTY ADMINISTRATOR'S COMMENTS: SUMMARY OF INFORMATION: It is important that the public and employees are kept up-to-date on the status of the County’s current and future budgets. This time has been set aside for staff in the County’s Public Information Office to share with the Board the strategies developed for communicating this information. Gray Craig, the County’s Web Content Manager, will highlight the County’s website, which now hosts a budget update site. Ms. Hall will talk about several other communication tools that are being utilized including Social Media, the County’s various e-newsletters, RVTV, and media releases. ACTION NO. _______________ ITEM NO. __________________ AT A SPECIAL MEETING OF THE BOARD OF SUPERVISORS OF ROANOKE COUNTY, VIRGINIA HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER MEETING DATE: February 2, 2010 AGENDA ITEM: Debt Work Session SUBMITTED BY: Rebecca E. Owens Director of Finance APPROVED BY: B. Clayton Goodman III County Administrator COUNTY ADMINISTRATOR'S COMMENTS: SUMMARY OF INFORMATION: The Board of Supervisors formalized the County of Roanoke’s debt management program by adopting a debt policy in December 2004.This policy established parameters for issuing debt and managing outstanding debt.It also provided guidance to the administration regarding the timing and purposes for which debt may be issued, types and amount of permissible debt and the method of sale that may be used.Adherence to a debt policy helps to ensure that a government maintains a sound position and that credit quality is protected. The County does not have any Constitutional or statutory debt limits. The County does abide by the following self-imposed debt targets: Net debt as a percentage of assessed value will not exceed 3%-This is calculated by taking the total outstanding debt and dividing by total assessed value of property. At June 30 the County’s ratio was 2.48%. Net Debt per capita will not exceed a ratio of $2,500. This is calculated by taking the total outstanding debt and dividing by total population. At June 30, the net debt per capita was $2,430. General obligation debt service as a percentage of general governmental expenditures will not exceed 10%. This is calculated by taking total debt divided by total expenditures of governmental funds, school expenditures and transfers to capital projects and proprietary funds. At June 30 the County’s ratio was 7.3%. Page 1 of 2 The County is currently rated Aa2, AA and AA by Moody’s Investor Service, Standard & Poor’s and Fitch Ratings respectively. The ratings are high quality and are a reflection of the County's prudent financial policies, healthy reserve levels, financial conditions, economic development initiatives and management practices. The County has done everything that it can do to improve our bond rating. It is our commercial to residential ratio that keeps us from achieving the best quality rating of a AAA. This work session will provide detailed information about the debt policy, debt limits, bond ratings, reserve balances, current debt and projected debt information for future planning. Page 2 of 2 ACTION NO. _______________ ITEM NO. __________________ AT A SPECIAL MEETING OF THE BOARD OF SUPERVISORS OF ROANOKE COUNTY, VIRGINIA HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER MEETING DATE: February 2, 2010 AGENDA ITEM: Update on School budget for fiscal year 2010-2011 and preliminary transfer to Schools SUBMITTED BY: Diane D. Hyatt Assistant County Administrator APPROVED BY: B. Clayton Goodman III County Administrator COUNTY ADMINISTRATOR'S COMMENTS: SUMMARY OF INFORMATION: This time will be used to update the Board of the preliminary transfer to Schools for the 2010-2011 fiscal year, based upon the allocation formula we have used historically. This formula was recently formalized with a Memorandum of Understanding dated September 2009. The Chairs and Vice Chairs of the School Board and the County Board met on January 28, 2010, to discuss this information. This session will include: 1. Review of the preliminary School revenues - Attachment A 2. Review of the preliminary allocation worksheet - Attachment B 3. Preliminary date for the joint School/County work session – 5:15 pm on Thursday, March 4, 2010, at the School Administration Building ATTACHMENT A Roanoke County Public Schools Comparison of Governor, House, and Senate Budget Proposals FY 2009-10 Supts Memo #338-09 (December 21, 2009) FY2010-11 CurrentGeneral BudgetGovernor'sGovernor'sHouseSenateAssembly 2009-10BudgetBudgetBudgetBudgetBudget ADM14,40014,40014,250 SOQ Revenues: Sales Taxes (See note below)13,985,00014,387,82414,387,824 Basic Aid42,553,00240,434,47339,913,599 Special Education5,861,3936,091,2526,027,801 Retirement & Social Security5,775,1966,311,5336,245,788 Other SOQ Revenues1,986,9571,956,6771,939,816 Lottery Funded Programs: Lottery000 Enrollment Loss870,302227,027520,566 Other Operating Costs funded with Lottery1,431,4971,687,7501,685,918 Categorical Revenues 34,58925,31025,310 Federal Stimulus Funding 3,826,95500 Adjustments: Factor out sales tax est by state(14,387,824)(14,387,824)000 Factor in sales tax est by RCPS13,800,00013,800,00013,800,00013,800,00013,800,000 Adjust Career/Tech reimb to actual(12,452)(12,452) State Operating Revenues 76,324,89170,521,57070,146,34613,800,00013,800,00013,800,000 StateRevenueLoss(5803321),,(6178545),,(62524891),,(62524891),,(62524891),, StateRevenueLoss(5803321)(6178545)(62524891)(62524891)(62524891) TTACHMENT B A Projected Sources - Uses of New Revenues 2010-2011 Budget Projections CountSchoolTotal y Revenue s New County revenues 238,865 238,865 (1 cent change in RE rate is $806,444) Less new economic development agreements:- - Less Per Gainsharing agreement(50,000) (50,000) Less increase in tax relief for elderly & handicapped(50,000) (50,000) Add undesignated stimulus funding(3,826,955) (3,826,955) New School revenues(2,351,590) (2,351,590) (6,178,545)138,865 (6,039,680) Personnel Costs (does not include operational budget items) VRS Rates: County (from 14.03% to 15.05%)511,122511,122 School professional (13.81% to 15.49%)1,468,5361,468,536 School - nonprofessional (9.21% - no change)0 School retiree health credit (from 1.04% to 1.01%)0 VRS life insurance rate (from 0.79% to 1.02%)0 Health insurance increase ( based on ______%)0 Dental insurance increase (based on est _____%)0 Salary increases School 1% = $985,0000 County 1% = $500,0000 Capital Improvements (CIP) - increase from $3,400,000300,000300,000600,000 CPMT increase - school share0 CPMT increase - county share0 1,768,536811,122 2,579,658 Balance to fund other needs(4,309,669) (4,309,669) (8,619,338) (2,541,133)(3,498,547) (6,039,680) School Revenue Sources (Increase) State Revenues (6,178,545) Dental insurance transfer - Local appropriation 3,637,412 (2,541,133) GeneralDentalTotal County Transfer to Schools - current year 61,737,627 477,299 62,214,926 Increase (decrease) in local appropriation3,637,412 - 3,637,412 Transfer to Schools - FY09-1065,375,039 477,299 65,852,338 ACTION NO. _______________ ITEM NO. __________________ AT A SPECIAL MEETING OF THE BOARD OF SUPERVISORS OF ROANOKE COUNTY, VIRGINIA HELD AT THE ROANOKE COUNTY ADMINISTRATION CENTER MEETING DATE: February 2, 2010 AGENDA ITEM: Work session to discuss fiscal year 2010-2011 budget development SUBMITTED BY: Brent Robertson Director of Management and Budget APPROVED BY: B. Clayton Goodman III County Administrator COUNTY ADMINISTRATOR'S COMMENTS: SUMMARY OF INFORMATION: This time has been set aside to provide an update on FY2010-2011 budget development. 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