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rental management agent, deposits were either insured by federal depository insurance, <br />collateralized, or secured by irrevocable letters of credit. All collateral on deposit was <br />held for safe keeping with a County -designated agent in the County's name. <br />Financial Hit <br />As a result of another year of declining property values which negatively impacted real <br />property tax revenues, the County was again faced with the dilemma of balancing its <br />budget. To avoid negatively impacting the local economy, the County worked diligently <br />to lover its operating costs while continuing to service the community and it people <br />rather than raise real property taxes. <br />The County continued the furloughs and pay reductions for both its HGEA and UPW <br />union employees but reduced the number of dans from twi <br />