Sunday, December 23, 2012
As the Fairfax County School board stares down $162 million deficit, midyear review funds will help boost next year's beginning balance.
Fairfax County Public Schools has found an extra $9.7 million in its fiscal year 2013 budget, much of which school board members voted Thursday night to set aside for its FY2014 beginning balance — a budget year in which the system faces a $162 million deficit. The money will increase next year's beginning balance from $41.6 million to $51.1 million. School board members have been waiting for the outcome of a midyear budget review since the fall, as it began to grapple with a projected deficit of $93.7 million in fiscal year 2014, a number that doesn't include another $68.4 million shortfall in "significant program needs." At a joint meeting in November, Fairfax County Executive Ed Long said the county anticipates being able to give the …
Monday, December 10, 2012
The meeting starts at 7 p.m. in City Hall.
Fairfax City's proposed Capital Improvements Program for fiscal year 2014 costs $46,081,830, almost double what council members adopted for 2013. The ongoing plan offers a wish-list of major public improvements based on predictions of city revenue from taxes, real estate, licenses, permits, fees and state/federal aid. While the plan includes inflation revenues, it does not account for tax increases. Fairfax's Planning Commission will start weeding through immediate needs and wants starting Monday night at 7 p.m. in City Hall. City council and staff review the plan every year and make changes as needed. The plan will be finalized in late April with the adoption of the FY 2014 budget. Patch will take a closer look at some of the proposed …
Thursday, December 6, 2012
City is still feeling the effects from the recession.
Fairfax City expects continued improvements in its vacancy, unemployment and residential foreclosure rates for fiscal year 2014. City Manager Bob Sisson presented an economic outlook for Fairfax at a council meeting on Nov. 27, kicking off Fairfax City's FY2014 budget season. The economic forecast sets the tone for budget tallks. Staffers use this forecast to help estimate where the city sits in terms of revenue and expenses in the near future. Sisson and his staff have to contend with a $5.2 million deficit, increases in capital improvement project funding and the city's school tuition bill in balancing the FY2014 budget. Council members will work with staff until they adopt a budget in May. Here's a breakdown of expected city revenues …
Wednesday, December 5, 2012
Staff says capital improvement spending, meager economy mean gap In Fiscal Year 2014.
Fairfax City faces a $5.2 million deficit this budget season. City Manager Bob Sisson presented economic forecasts and budget calculations at a council meeting Nov. 27, kicking off Fairfax City's FY2014 budget season. Sisson and his staff have to contend with increases in capital improvement project funding and the city's school tuition bill in balancing the Fiscal Year 2014 budget. Council members will work with staff until they adopt a budget in May. Here's a breakdown of expected city revenues and expenses for 2014: Revenues Expenses Compare the expense and revenue estimates and the city faces a $5.2 million deficit. Patch will follow the budget process throughout the winter months and into April. Click here to watch city staff go over…
Budget planning for FY2014 will come to a close on May 1.
These dates are subject to change. Check Fairfax City Patch for updates.