With less than a week to go before they must adopt a FY 2009 budget, county supervisors continue to search for answers that will lead them to a suitable tax rate and adequate funding for government and school operations.The public school system, though, continues to wait word on how deeply supervisors will cut into its proposed $794.3 budget.Superintendent Edgar B. Hatrick and school board Chairman Robert F. DuPree (Dulles) planned to discuss the matter at the supervisors' budget work session last night, but time ran out. Supervisors planned to discuss both the county and schools operating budgets tonight.Since the budget process began, supervisors have made it clear that this year's budget will be different. Referencing concerns about residents struggling to keep up with a significant tax hike, supervisors have suggested setting the tax rate as low as $1.10, about 11 cents lower than County Administrator Kirby Bowers has proposed and 14 cents higher than the current rate of 96 cents.If Bowers' proposal were adopted, it would mean a $22.6 million reduction from the schools proposed budget.

UK central bank to join battle on liquidity

The Bank of England is poised to take revolutionary action to find a “resolution" to the problems faced by British banks unable to sell or refinance portfolios of mortgage-backed debt, Mervyn King, the governor, signalled on Wednesday.

States, cities, hospitals scramble to refinance debt, limit budget damages

HARRISBURG, Pa. - States, cities, hospitals and major public agencies battered by wild interest rate swings in one sector of the municipal bond market are scrambling to refinance the debt as they add up the damages to their budgets and nurse some hard feelings.