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DRAFT Presented to the Accomack County Board of Supervisors September 16, 2009 p On September 8, 2009, Governor Kaine released his budget reduction strategies intended to rebalance the b d d i i i d d b l h Commonwealth’s budget for Fiscal Year 2010. This “rebalancing” is necessary to address the j t d h tf ll identified in th projected revenue shortfall id tifi d i the Commonwealth’s August interim revenue forecast for FY2010. total, these strategies t t l over $1 2 billi n and are In t t l th tr t gi total r $1.2 billion nd r in addition to the “aid-to-locality” reductions adopted earlier this year. All reduction strategies will be reported in the introduced caboose budget however the Governor does have authority to implement many of these strategies immediately. Major Reductions: “Aid-to-locality” reductions approved by the General Assembly earlier this year totaled approximately $225,000. Eli i i of state f di earmarked f Elimination f funding k d for school construction/school debt service of $456,000. approximately $456 000 No Commonwealth tax increases p p proposed 50% of State “Rainy Day” funds tapped y pp public Transfer literary fund balances to support p school employee retirement contributions 600 state layoffs One day furlough for all state employees Close two state prisons and juvenile justice center State General fund programs transferred to Lottery funding (may impact future cash flow) d ti HB599 reductions Compensation Board Funding Reductions (Total $171,234): Sheriff’s Office-4.7% Reduction ($121,048) Treasurer-15% Reduction ($10,013) Commissioner of the Revenue-15% Reduction ($6,954) Clerk of the Circuit Court-15% Reduction ($23,492) y ( Commonwealth’s Attorney-5% Reduction ($9,727) ) Elections including Registrar-10%Reduction ($5,339) VJCCCA Grant (Juvenile detention)-5% Reduction ($ , ($2,471)) Teen Pregnancy Prevention Grant reduction (To be determined) Litter Control Grant reduction (To be determined) Supplant State funding for K-12 education with ARRA/SFSF (Stimulus) funding. funding This will reduce ARRA/SFSF funds that would have been available for FY2011 by 33%. Reduced public school teacher retirement, group life and health credit contribution rates effective April 2010 – June 2010. The School Board will see some savings as result of this action. Adjusted sales and use tax revenues to schools based on August revenue reforecast. q g A reduction in sales tax revenues requires an offsetting increase in education formula $ by State and County. We are awaiting information from DOE on the impact. Page 3 of the Governor’s reduction plan states “no reductions to k-12 funding pending approval by the federal government of an li ti to further federal ti l funds”. We h ll application t f th use f d l stimulus f d ” W shall see. Other County Organization s Impacted: Organization’s Community Service Board-5% Reduction Libraries-5% Reduction. Soil & Water Conservation District-10% Reduction Planning District Commission EMS Council-Portions of the “4 for life” fund are being redirected towards the Department of State Police. Social Services-Reductions in “Other purchased services” funding and core/companion funding. Reduction: Amount Compensation Board related $171,234 Election related $5,339 VJCCCA Grant $2,471 $2 471 Teen Pregnancy Prevention Funding Reductions To be determined Social Services related To be determined Litter Control Grant reductions To be determined K-12 funding To be determined Total Known At This Time $179,044 Service level reductions for grant programs are an option. This can have a negative impact when preventative type services are reduced. Example: One of the goals of the VJCCCA program is to keep or treat at- risk juveniles in a less restrictive and less costly community setting. Failure to do so may lead to an increase in the number of juveniles detained in the Norfolk detention center thus increasing local costs. The County’s debt restructuring plan yielded $72,000 more in savings than budgeted. offset. These funds could be used as an offset Undesignated fund balance estimate at 6/30/2009 is $1.1 million. These funds would normally be used to fund one-time expenditures in upcoming fiscal years. (It is likely some of these funds may be needed to revenue.) offset projected reductions in landfill revenue ) County Rainy Day Reserve at 6/30/09 equal to $1,894,000. Staff does not recommend using these funds as they represent only 2.8% of General Fund and School Fund revenue. The goal is 8% per the County’s plan. restoration plan
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