There is hereby established a Spending Affordability Committee which
shall be composed of three to five members recommended by the County
Administrator and the Director of Budget, Finance and Information
Technology and approved by the County Commissioners.
The members shall serve two-year terms staggered in such a way that
at no time will all members of the Committee be appointed in the same
year, except for the initial appointments to the Committee.
The members of the Committee shall, by virtue of their education
and employment, have a demonstrated competence in one or more of the
following areas: accounting, financial analysis, economics, budget
and fiscal management, public finance, fiscal planning, or related
fields.
On or before November 1 of each year, the Committee shall submit
to the County Commissioners a report on spending affordability guidelines
for the proposed budget recommending County spending levels for the
next fiscal year consistent with the capacity of the tax base and
revenue sources of the County to finance public services and long-term
debt. A copy of this report shall be posted on the County website
and be made available for public inspection.
Debt affordability indicators, such as a ratio of net debt to
total assessed value, the ratio of debt service to General Fund expenditures,
and debt per capita;
In developing the proposed capital and operating budgets, the County
Administrator and County Commissioners shall consider the Committee's
spending affordability recommendations. An approved budget in excess
of the recommended affordability guidelines must be addressed in the
annual Budget Resolution.