Positive economic forecast and a growing economic landscape
Auburn, Calif. – With an eye on balanced growth, the Placer County Board of Supervisors recently adopted a resolution to formally adopt the Fiscal Year 2024-25 Budget.
The budget represents the culmination of a comprehensive countywide effort to develop a budget that recognizes future obligations, protects the county from potential foreseeable impacts and maintains critical services for our communities.
"Balanced budget / positive economic forecast"
"I want to thank our county staff for their hard work and dedication in developing this budget, which is thoughtful and considers the needs of our residents and the requests of our county departments," said Board Chair and District 4 Supervisor Suzanne Jones. "It's a year-long process to get to this point and I am pleased to share we have a balanced budget and a positive economic forecast. We are fortunate to have such fiscally capable leadership."
Revenue / Expenditure Snapshot
Population growth
The budget's operating funds total $1,223,744,843, which reflects a 4.2% decrease compared to the FY 2023-24 budget and includes $52.2 million for capital projects. The growing economic landscape in Placer County has had a significant impact on this year's budget priorities, particularly the trend toward urbanization in West Placer. Population growth anticipated over the coming years is expected to put increased pressure on demand for county services in both the long and short term.
To meet these demands, the county is committed to prudent operational and financial planning as defined through its "Getting Growth Right" initiatives and economic policies.
A total of 36 new positions have been added to the county's employment roll over the past 12 months and the additions are now reflected in the newly adopted budget. The positions were added to manage an increased workload associated with ongoing growth and development.
Decades of development ahead
"Our Getting Growth Right initiatives are a top priority and we are laser-focused on identifying the areas where county government needs to grow to ensure we continue to provide quality service levels, now and into the future," said County Executive Officer Daniel Chatigny.
"We have an array of development headed to Placer County over the next couple of decades and we must prepare to respond if we are to serve effectively."
Daniel Chatigny
Supported by new revenues
The newly adopted budget funds all operating expenses with new revenues and does not rely on one-time funding reserves to support ongoing operations. The budget also provides continued funding of pensions and other benefits provided to former employees such as medical insurance. Additionally, the budget supports contributions for current capital projects and long-term capital planning.
Reflecting the county's commitment to safe and healthy communities, the budget allocates approximately 50% of its operating funds to support Health and Human Services and public safety, including the Placer County Sheriff's Office, Probation Department and District Attorney's Office. This percentage also includes fire protection services, which the county contracts with CAL FIRE to provide.
The budget also includes approximately $142 million for the Capital and Road Funds to support construction and maintenance of county facilities and ensure public access to services through road and bridge infrastructure, storm maintenance and snow removal.
Contingency reserve
Finally, the budget maintains a strong contingency reserve of 10% of annual expenditures, in keeping with the county's financial policy, which was developed at the direction of the Board of Supervisors. This policy has enabled the county to set aside resources for difficult budget years and has provided a solid foundation for county operations.
Residents are encouraged to review the county's Budget-at-a-Glance webpage to gain a high-level overview of funding allocations for the fiscal year, which begins July 1.