Budget

Maximizes County resources by identifying cost saving measures and making improvements to the budget process while developing and monitoring the County's annual operating and capital budgets and five-year financial plan.

Quick Facts about Hanover County's Budget

• General Fund Budget for FY12 is $ 202.7 million, a 2.1% increase over the prior year.
• Total Budget of all funds for FY12 is $ 391.3 million, a 2.1% increase over the prior year.
• School Operating Budget for FY12 is $ 182 million. This is a 1.6% increase over the prior year.
• The FY12 Budget includes 1,130 County full-time equivalent (FTE) employees. In addition to those FTE’s, 32 FTE positions are "authorized", but are unfunded in FY11.  The Schools full-time equivalent (FTE) employees for FY11 total 2,532. 
• Major sources of General Fund Revenue for FY12 are:
• Real Property Tax $ 96.8 million, a 2.2% decrease
• Personal Property Taxes $21.9 million, a 1.9% decrease
• Sales Tax $17.0 million, a 12.8% increase
• State and Federal Revenues $26.1 million, a 1.3% increase
• Major General Fund Expenditures are:
• Education ($ 92,610,611; 45.7%)
• Public Safety ($ 45,766,085; 22.6%)
• Human Services ($ 16,098,234; 7.9%)
• Tax rates (per $100 assessed value) for CY11 are:
• Real Property $0.81
• Personal Property $3.57
• Machinery & Tools (10% of cost) $3.57
• Merchant’s Capital (10% of market value) $1.90
• The FY12 capital budget for County and School projects is $ 4.1 million.
• Hanover County’s estimated population for 2011 is 100,822.
• Hanover County’s estimated school enrollment for September 2011 is 18,125.
• Number of schools:
• 15 elementary schools
• 4 middle schools
• 4 high schools
• 1 alternative and adult education school
• 1 career and technical center
• As of January 1, 2011, the median new home sales price in Hanover County is $220,300.
• Hanover County’s Municipal Bond Ratings are:
• Fitch AAA
• S&P AAA
• Moody’s AAA

Title 15.2 of the Virginia Code prescribes budget development for Virginia localities