2/24/2012 - Accomack Board receives 2012-13 budget
Accomack County's Board of Supervisors had its first look at the proposed 2013 budget Wednesday night. County Administrator Steve Miner told the Board it is a balanced budget, with small capital and operating surpluses that would allow the Board to make some discretionary allocations, and would place $760,000 into the county's Rainy Day Fund.
The budget assumes a property tax rate increase to offset falling property values, which have declined by about 12% county-wide. Rates would increase by 7 cents for most parts of the county, but declining property values mean the resulting revenue would be roughly the same as 2011.
Other forces shaping the budget include an 18% increase in health insurance costs, a 45% increase in employee retirement costs , and deferred debt payments that come due beginning in 2013. The budget does not include any cost of living pay increases for employees paid with county funds, but does allow pay for performance increases of up to 3%. A budget work session is scheduled for February 28 at 5:00 p.m.
More Information By Connie Morrison