Albemarle Co. Supervisors, School Board Look at Funding Long-Term Projects
ALBEMARLE COUNTY, Va. (WVIR) - With more people expected to move into Albemarle County in the coming years, county leaders are thinking ahead when it comes to financial planning for capital improvements.
The school system has already worked to address current overcrowding with redistricting.
Now, the board of supervisors and the school board are working together to ensure future facility planning is affordable.
The two boards are focusing on the county's Capital Improvement Program, which currently plans funding for all long-term facility projects in the county through fiscal year 2024.
The current CIP has a balance of $207.6 million, with about half of that slated for school upgrades and improvements.
On Thursday, May 9, the group discussed different levels of potential tax increases to help cover capital projects.
“It's not a want, it's a need based on growth and capacity issues in schools that we’re looking somewhere on the spectrum between level two and level three that it's somewhere around maybe greater than six cents but it may be less than seven cents," Rick Randolph, an Albemarle County supervisor, said.
County supervisors say any potential tax increases won't be voted on until budget planning begins for the next fiscal year.
Thursday’s work session was just the first of many to come.
More joint meetings are set throughout the year to tackle capital improvements across the county.