There is more good news coming out of Prince William County when it comes to the jurisdiction’s financial picture.
In the county’s annual budget recap on Tuesday, budget director Michelle Casciato notified the Prince William Board of County Supervisors of an additional $10 million in revenue made available from unexpectedly higher commercial real estate assessments and personal property assessments.
Approximately 5.3 million of the revenue will go to Prince William County Public Schools based on the county’s revenue sharing agreement. The rest of the funding would allow the supervisors to lower the tax rate from $1.21.3 to $1.18.6 and still keep county executive Melissa Peacor’s proposed budget intact.
The county also expects to receive the addition of $651,290 in state 599 funding. Peacor is recommending the board restore the six vacant police officer positions originally slated for removal with this new pot of money.
Under its five-year plan, the county has plans to hire an additional 10 police officers a year from fiscal 2013 to 2016. There is also a two percent merit adjustment for county employees planned from the upcoming fiscal year through 2016. However, there are no cost of living adjustments planned for that time period.
Also discussed during Tuesday’s meeting was the $12.6 million ($5.45 to the county) in surplus revenues from this fiscal year. According to Casciato, the supervisors will decide where to allocate the surplus revenue during the annual carryover in August.
Highlights of the 2012 budget, which is scheduled to be approved on April 26, include 13 new Social Services Eligibility positions, 16 new positions in the Fire & Rescue Department and the inclusion of two libraries and several major road projects in the county’s 2012-2017 Capital Improvement Plan.
The CIP is separate from the general fund budget, which is slated for $878.3 million. The current tax rate will raise residents’ tax bills by an average of three percent.
Staff writer Kipp Hanley can be reached at 703-530-3904.
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