9/26/07 * Daily Progress [full story]
A $3.3 million budget shortfall is forcing Albemarle County to consider reducing school programs, among other money-saving measures, officials confirmed Tuesday.
County leaders had predicted a slowdown in the housing market, but County Executive Robert W. Tucker Jr. said in an e-mail to Albemarle schools Superintendent Pam Moran and the Board of Supervisors that “the extent of the slowdown is greater and has occurred more quickly than expected.”
The county collects real-estate taxes twice per year and bases its budget on revenue projections. This year, the county had projected that residents’ property reassessments would rise 5 percent. The new projection pegs the number at 0.8 percent, leaving the county with a hole to fill.
County schools will have to cut $1.9 million from their budget while the general government will have to slash $1.4 million, according to Tucker’s e-mail. The government has decided to make up the loss by leaving positions unfilled as officials leave or retire, Tucker said.
In an e-mail to School Board members, Moran laid out several strategies for making up the nearly $2 million. One would be to use money that wasn’t used last year - the board’s fund balance. Another scenario would be to cut operations, or use other measures, such as freezing positions. Schools have identified $720,000 they could cut when faced with a shortfall such as the current one. It isn’t yet known how much money is left over from last year.
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