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items over the last several years, a substantial amount of work remains. The proposed budget; which is the second year into the original five-year plan, includes $8,681,900 in funding for these projects. Although challenging to fund given the current reduction in major revenues, staff continues to prioritize these projects. Fiscal Year 2020721 Budget Highlights The total proposed budget is $393,534,815, a decrease of $36,964,116 or 8:59% from the current year. It should be noted that this is an increase of $25,809,680 or 7.02% from the beginning budget of $367,725,135 for the current year. However, this is still 16.70% below the approved FY 2006/07 amount of $472,420,328. A detailed all - fund expense summary is contained in the exhibits following this'message (pages 25 and 26}. The chart below shows continued recovery in the County tax roll, following a significant drop during the "Great Recession": For the first time in fourteen years,. the FY 2020/21 taxroll has surpassed the previous height of $18.6 billion in FY 2007/08. The FY 2020/21 taxroll. is approximately $1 billion or 5.33% higher than the previous fiscal year. Although the current change in taxable values is positive, there is great uncertainty regarding future years' taxroll growth as the world continues to experience the negative impacts of COVID-19. After establishing the OPEB Trust in FY 2007/08, the County has reached a solid financial position. This has allowed for a significant decrease in the required contribution for next year, which results in a savings of approximately $1.0 million Countywide. This decrease in benefits helps to offset the approximately. $1.1 million Countywide increase in employer health insurance premiums scheduled for next fiscal year. a 4