Fairfax County Board Takes Action on FY 2009 Carryover Review


Sept. 14, 2009
OPA 170/09

News Highlights  

  • Carryover package formally approved.
  • County was able to produce a small year-end balance, which is proposed to be held in reserve to help mitigate potential budget shortfalls in FY 2010 and FY 2011.

On Sept. 14, the Fairfax County Board of Supervisors took action to formally approve the carryover package including Supplemental Appropriation Resolution AS 10036 and Amendment to the Fiscal Planning Resolution AS 10900, including the FY 2009 Carryover Review Package as presented on Aug. 3.

Despite major fiscal challenges that have impacted everyone across the country, and with prudent guidance from the board, the county was able to produce a small year-end balance, which is proposed to be held in reserve to help mitigate potential budget shortfalls in FY 2010 and FY 2011.  It is important to note that the county already has a significant shortfall looming in the FY 2011 Budget so it will be necessary to maintain vigilance, look for efficiencies wherever possible and hold any resulting funding balances in reserve to help address the situation.

A brief summary of the FY 2009 Carryover Review Package follows:

  • FY 2009 General Fund Revenues and Transfers In were $43.5 million over the FY 2009 Revised Budget Plan estimate. 
  • FY 2009 actual expenditures were below FY 2009 Revised Budget Plan projections by $69.7 million. 
  • This results in a total of $113.2 million; however, it is necessary to net out all outstanding encumbrances and unencumbered commitments that are carried over to FY 2010, as well as make a required adjustment to the Managed Reserve.  These total $47.1 million, leaving a combined revenue and disbursement balance of $66.1 million. 
  • The carryover package then includes $11.4 million in administrative adjustments associated with previously approved board initiatives, including:
    • $6.1 million for the Legacy Systems Replacement Project consistent with the contract award presented to the board on July 13.
    • $5.0 million for emergency system failures that are occurring with more regularity at aging county facilities, as well as capital renewal projects categorized as “F,” urgent/safety related, or endangering life and/or property. 
  • The remaining balance of $54.7 million, or 83 percent of the total available balance, was set aside in reserves, including:
    • $16.2 million to restore the Revenue Stabilization Reserve to 3 percent of General Fund disbursements.
    • $20.0 million to advance funding for the county’s retirement systems, reflecting the significant investment return losses in FY 2009.
    • $5.0 million for unanticipated requirements, including lower revenue, in FY 2010.  This reserve is prudent as several indicators of the county’s economy have continued to weaken over the last several months, resulting in continued concern for the revenue outlook in FY 2010.
    • $12.4 million to offset the projected FY 2011 deficit of $316 million. This reserve, as well as other spending reductions and revenue enhancements, will be necessary to bridge this gap.  
    • $1.1 million for necessary adjustments to the Managed Reserve.

Additional information on the FY 2009 Carryover Review or other budget-related matters is available by calling the Department of Management and Budget at 703-324-2391, TTY 711, as well as on the county’s Web site.

 

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Get News. Get Information. Get Fairfax County.Contact: Merni Fitzgerald, Director, Office of Public Affairs
703-324-3189, TTY 711, Media Pager: 703-324-NEWS (6397)
publicaffairs@fairfaxcounty.gov
To request this information in an alternate format, call 703-324-3187, TTY 711


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