Biennial Budget to be Presented to Oakland County Commissioners July 9th
Oakland County Executive L. Brooks Patterson Presented the Biennial Budget for Fiscal Years 2009/2010 at a Special Oakland County Board of Commissioners Meeting July 9, 2008.
Mr. Patterson presented an overview of the new fiscal spending plan at this meeting, but did not go into specifics about what kind of adjustments will have to be made to the 2009 budget that was passed by the Board of Commissioners last year.
The lingering sub-prime mortgage crisis has led to many home foreclosures and to a decline in property values in general. This has resulted in lower revenues to the County, even lower than projections made as recently as last December.
On the other hand, the County has realized significant savings through proactive measures already taken. These measures will offset some of the declines in revenue.
Since the Oakland County Board of Commissioners is committed to holding the line on taxes, adjustments to the budget must be made that reflect the actual changes in both revenue losses and revenue savings.
The special evening Board of Commissioners meeting on July 9th gave the public a chance to hear Mr. Patterson's overview of the new spending plan. Interested citizens may contact their Commissioners to voice their thoughts on the budget overview.
