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01-17-2023 Finance Committee - FINALPITTSYLVANIA COUNTY BOARD OF SUPERVISORS’ FINANCE COMMITTEE January 17, 2023 VIRGINIA: The Pittsylvania County Board of Supervisors’ Finance Committee was held on January 17, 2023, in the Board Meeting Room, 39 Bank Street, SE, Chatham, Virginia 24531. CALL TO ORDER (2:30 PM) Warren called the Meeting to Order at 2:30 PM. Attendee Name Title Status Robert ("Bob") W. Warren Chairman - Chatham Blairs District Present Robert M Tucker, Jr. Supervisor - Banister District Present Timothy W. Dudley Supervisor - Staunton River District Present Tim Chesher Supervisor - Dan River District Absent Ingram and Scearce were also in attendance. Dalton arrived at 2:35 PM, APPROVAL OF AGENDA Motion to approve Agenda. RESULT: ADOPTED [3 TO 0] MOVER: Tucker SECONDER: Dudley AYES: Warren, Tucker, Dudley AWAY: Chesher NEW BUSINESS a. Personal Property Tax Formula Discussion (Staff Contracts: Kimberly G. Van Der Hyde/Robin Goard) Van Der Hyde and the Honorable Robin Goard, Commissioner of the Revenue, discussed the impacts of potentially changing the County’s Personal Property tax rate. The current tax rate is $9.00 per $100 of assessed value, 30% of market value. Changing the personal property tax rate without changing the valuation methods will have both positive and negative impacts to County taxpayers, and changing the rate and the valuation methods will not result in a revenue neutral effect. The Committee recommended County Staff and Goard work together to see if changing this method is feasible. The optics of the current method appears to be substantially higher than neighboring localities and has an impact on Economic Development prospects when deciding to bring businesses to our County. b. Capital Improvements Plan Review (Staff Contact: Kimberly G. Van Der Hyde) Van Der Hyde presented the County Capital Improvements Plan (“CIP”) for the next five (5) years (FY 2024 - FY 2028). The CIP is reviewed annually by County Departments, as well as the School Board, to identify capital improvement needs for the upcoming County Budget year, along with a long-range plan for the next four (4) years. The CIP from this year to last increased by $71M. Van Der Hyde reiterated that just because something is requested in the CIP, does not mean that it is going into the Budget. This CIP could change due to various factors. Her full presentation can be found on the County’s website at www.pittsylvaniacountyva.gov. Motion to recommend the full Board approve the attached FY 2024 - 2028 CIP at tonight’s Business Meeting. RESULT: APPROVED [3 TO 0] MOVER: Dudley SECONDER: Tucker AYES: Warren, Tucker, Dudley AWAY: Chesher c. FY 2024 High Level Budget Review (Staff Contact: Kimberly G. Van Der Hyde) Finance Committee January 17, 2023 Van Der Hyde presented a high-level Budget review to the Committee that included Budget challenges and possible Budget relief. The presentation can be found on the County’s website at www.pittsylvaniacountyva.gov. d. 2023-2024 Budget Calendar Approval (Staff Contact: Kimberly G. Van Der Hyde) Van Der Hyde presented the County’s 2023-2024 Budget Calendar to the Committee. Per the Code of Virginia, said calendar must be approved by the Board annually. Motion to recommend the attached Budget Calendar to the full Board for approval at tonight’s Board’s Business Meeting. RESULT: APPROVED [3 TO 0] MOVER: Tucker SECONDER: Dudley AYES: Warren, Tucker, Dudley AWAY: Chesher MATTERS FROM COMMITTEE MEMBERS • Tucker thanked Van Der Hyde for her hard work and diligence throughout this Budget process. • Dudley thanked Van Der Hyde and Goard for their hard work. • Warren echoed those comments and thanked County Staff for their hard work, as well as Ms. Worley with the Schools, and he stated this will be a tough Budget year. He also thanked Goard for being present and working with County Staff. ADJOURNMENT Warren adjourned the Meeting at 3:21 PM.