The Fairfax County Board of Supervisors likely will adopt a budget next week with few changes made since it was proposed two months ago.
The fiscal year 2008 spending plan, which contains a general fund of about $3.3 billion, is geared to carry the county through the beginning of a period of flat revenues the deflating housing market caused.
Supervisors gave their initial approval to the budget earlier this week and are expected to formally adopt it Monday.
“The Board of Supervisors must be very cautious due to the current rebalancing of the real estate market,” budget Chair Sharon Bulova said in a statement. “Lest we forget, the last time we had a market correction, it lasted for nine years.”
Bulova referred to the severe crash of the early 1990s in which housing values dropped precipitously. The most recent revenue slowdown, which accompanied the first decrease in home prices since 1998, is expected to get worse before it gets better.
The board, anticipating lean years to come, declined to fund a number of budget requests, including $6 million that child-care advocates had hoped would help preserve the county’s subsidized day care rolls after a loss of federal funding last year.
The board did resolve to look for available dollars in human services offices andother funds to supplement that program.
The Board of Supervisors also opted to preserve the current tax rate, which is 89 cents per $100 assessed value.
