County Managers Proposed FY 2021 Budget BUDGET MARK-UP County - PowerPoint PPT Presentation

County Manager’s Proposed FY 2021 Budget BUDGET MARK-UP County Board Meeting Monday, April 27 @ 2:00 p.m.

Arlington County’s Current Reserves Reserve Use Amount Replenishment General Fund Meet a critical, unpredictable financial 5.5% of the Within the subsequent Operating Reserve need General Fund three (3) fiscal years budget Stabilization Address unexpected, temporary events, Minimum of Within the subsequent Reserve* such as major weather events or a 1.0% of the two (2) fiscal years local/regional emergency requiring General Fund immediate incurrence of cost in budget; 1% response; revenue declines; equates to new/unfunded state, regional or federal $13.5M; programs; unexpected capital recently used expenditures; and local or regional $1.7M and economic stress. proposing to use $4.0M leaving $7.77M *Reflects proposed changes to the Reserves Policy included in the FY 2021 budget to require the Stabilization Reserve be a minimum of 1.0% of the GF budget. 1 County Manager's Proposed FY 2021 Budget

Recent Increases to Stabilization Reserve FY 2016 Close-out (November 2016) Increased from $3.0 million to $4.0 million FY 2020 Budget Adoption (April 2019) Increased to 0.5% of General Fund Budget ($6.7 million) FY 2019 Close-out (November 2019) Increased to 1.0% of General Fund Budget ($13.5 million) 2 County Manager's Proposed FY 2021 Budget

Reserve Policy Levels to Peer Triple-A Localities (as of FY 2019 budgets) Select Triple-A Rated Localities - General Fund Balance Policies 18.0% 16.0% 16.0% 15.0% 14.0% 14.0% 12.0% 10.0% 10.0% 10.0% 10.0% 9.5% 10% 10.0% 8.0% 8.0% 6.5% 6.0% 6.0% 5.5% 4.0% 6.0% 5.0% 2.0% 0.0% Arlington County, Chesterfield Prince William Alexandria, VA Fairfax County, Loudoun County, Montgomery Raleigh, NC Henrico County, City of Charlotte, VA County, VA County, VA VA VA County, MD VA NC Select Triple-A Policy Median Policy Minimum Policy Range Stabilization Fund Proposed Stabilization Fund Increase 3

County Manager’s Proposed FY 2021 Budget BUDGET MARK-UP County Board Meeting Monday, April 27 @ 2:00 p.m.