The budget is more than $863 million. It cuts spending 3.9% from last year.
It includes the FAIR PLAN, which was announced last month and which cuts sales tax revenue funding to suburban schools. She called it a long term solution to the county budget crisis.
2008 operating budget of $863,307,700 cuts spending 3.9% from the previous year, cuts the property tax rate from $9.10 to $8.99.
Brooks says the balanced budget also helps the county's credit rating, through Fitch Ratings.
"Our 2008 budget is balanced, solves the budget crisis, cuts the property tax rate, and protects quality of life services," County Executive Brooks stated. "It maintains the Morin-Ryan agreement, and for the first time in many years forecasts a fund balance, rather than a deficit…even Wall Street agrees that we are moving in the right direction. This is why I am proud to announce that Fitch will be removing our County's negative credit watch; an incredible vote of confidence in our path from crisis to comeback."
The County Executive's 2008 budget will be formally presented to the County Legislature at their November 13, 2007 meeting. It's expected to be voted on in December.