At 4.5% less than the approved FY10 Operating Budget, this is the first decrease in the total budget since the current County Charter was adopted in 1968.
The budget re-establishes the reserve at 6 percent, which should help maintain the County’s AAA bond rating. The reserve was reduced to 5 percent in FY10.
The overall tax-supported budget of $3.66 billion reflects a decrease of $190.3 million from the FY10 adopted budget, a decrease of 4.9 percent. This is the second consecutive year the tax-supported portion of the budget has decreased. Read more details, including reactions from Council members.
POSTED AT: Tuesday, May 25, 2010 | 9:00:00 AM