Contra Costa Board of Supervisors Approve $3.1 Billion Budget, Increase Funding for Public Safety

The Contra Costa County Board of Supervisors approved a $3.1 billion recommended budget for the upcoming fiscal year that begins in July 1, 2015.

Supervisor Mary Nejedly Piepho issued the following statement:

” I am pleased to report that the County has a structurally balanced budget for the fourth year in a row and a General Fund reserve of more than 18%.  After years of reduced property tax revenues and budget cuts, a 9% increase in property values this year has allowed us to make increases to public safety. These increases equate to the County funding 10 new Sheriff deputies to enhance community patrols, four additional deputy district attorneys for criminal prosecution and five additional public defenders. The overall result has been an improved credit rating by Standard and Poors to AAA.” 

The final budget will be adopted in September after the state’s budget is finalized.

Editors Note:  Information pulled from the Power Point Presentation:

• According to the County presentation, over the last six years, there was an increase in property tax revenue by just 2.32%.
• Affordable Care Act Impact: Assumption is the County has a $10 million Uncompensated Care Burden even after implementation.
• OPEB Liability Significantly Reduced: Reduction in 2006 OPEB Liability from $2.6 billion to $783.1 million
• Total unfunded Liabilities $2,618,103,000
• Even with a General Fund Reserve of $237.2 Million, ($142.3 Million Unassigned) the General Fund has a negative cash flow at least 9 months of the year.
• The General Fund cash balance begins the year with a negative cash balance due to large disbursements for advances, pension pre-pay costs, and accrued expenses.
• Cash flow is not positive until the second installment of property tax receipts are received in late spring.
• Capital Maintenance Costs: On March 31, 2015 the Board of Supervisors
  received an updated Comprehensive building condition assessment which identified a total of $272.2 million in deferred facilities maintenance needs and capital renewal requirements
• Retirements: Abnormally high number of vacant positions due to unprecedented numbers of retirements during calendar year 2011 and 2012. Historically March retirements are the highest. Normal year would see approximately 260 Retirements

For the full power point, click here.