The mission of the Department of Management & Finance is to ensure prudent use of County resources.
Revised estimates for the FY 2011 budget show a potential $65 million gap between revenues and expenses for the County and Schools. The revenue declines primarily are the result of an anticipated 7.2% decline in real estate revenues (2.5 percent decline in residential assessments; 12.7 percent decline in commercial assessments) at the current tax rate.
As the County prepares for the FY 2011 budget, the County Board has issued guidance that it shall be no greater than the adopted FY 2010 budget ($946.8 million). The Board also directed closing the anticipated budget gap by equally dividing between revenue increases and expense/service reductions.
More information on the FY 2011 Budget and how to offer feedback can be found here, on the County's FY 2011 Budget Page
On April 28, 2009, the County Board adopted the FY 2010 Budget. The adopted budget is $946.8 million, which is up 0.6% from the FY 2009 Revised Budget of $941.4 million. Total County spending is up 0.5%, excluding schools. The schools transfer of $352.4 million is up $2.3 million, an increase of 0.65%.
All budget documents, press releases, and other information can be found on the County's FY 2010 Budget Page.
On Thursday, December 10th, Arlington County issued $66 million of their Series 2009 D Refunding Bonds. With interest rates declining to historically low levels, the County was able to leverage their AAA rating to refinance existing debt at the lowest rate on record with the County, 2.39%. In FY 2010, the refinancing will save $1.2 million in annual debt service costs, while $2.2 million will be saved over the life of the bonds. A portion of the bonds that had previously been issued in each of years 2001-2008 were included in this refunding.
For more information on Arlington County Bonds, click here.
Current Bid Opportunities, Bidder Registration, Bidder LogIn, Current Contracts, FAQ, How To Do Business with the County, Living Wage Policy, Minority Participation Policy (29K PDF format), Solicitation Process
2006 Bond Questions, Series 2006 General Obligation Public Improvement & Refunding Bonds, Series 2003 General Obligation Public Improvement & Refunding Bonds (2.7MB PDF format)
CONTACT US
Department of Management
and Finance
2100 Clarendon Blvd.
Suite 500
Arlington, VA 22201
703-228-3415
Mark Schwartz, Director
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