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Five Year Financial Plan - Assumes .63 cent tax rate
<br />114 Sales Tax in FY2012 and Freeze Expenditures at FY2012 Levels
<br />GENERALFUND
<br />Budgeted Revenues for:
<br />Estimated operating revenues from
<br />previous fiscal year
<br />Change resulting from Revaluation
<br />Growth /Decline in tax base
<br />Increase in Property Tax
<br />Register of Deeds Fees
<br />Building Inspection Fees
<br />QSCB Subsidy Payments
<br />Increase (Decrease) in other Revenues
<br />Growth in Sales taxes
<br />New 1/4 cent sales tax /education capital projects
<br />Reduction in Taxes - Article 39 and Article 44 (Medicaid)
<br />Total Re- occurring Revenues
<br />One Time Revenue Sources
<br />Capital Reserve Funds
<br />Capitalized Interest Proceeds - School Debt
<br />Contribution from Capital Projects Funds
<br />Lottery Proceeds
<br />Fund Balance Appropriated
<br />Total Revenues 203,399,704 184,431,639 185,164,653 186,776,605 192,015,387
<br />Budgeted Expenditures for:
<br />Estimated operating expenditures from
<br />previous fiscal year
<br />Revaluation Year
<br />201,382,904
<br />183,261,639
<br />183,980,981
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />191,425,780
<br />191,171,680
<br />177,124,121
<br />180,315,980
<br />184,776,605
<br />-
<br />(17,420,163)
<br />-
<br />-
<br />-
<br />(2,476,934)
<br />1,156,457
<br />2,117,859
<br />2,768,345
<br />3,411,616
<br />(56,050)
<br />177,000
<br />217,000
<br />220,000
<br />(146,500)
<br />(80,600)
<br />200,000
<br />250,000
<br />250,000
<br />(224,400)
<br />743,081
<br />27,839
<br />-
<br />-
<br />(1,220,096)
<br />-
<br />-
<br />-
<br />-
<br />45,969
<br />247,308
<br />469,000
<br />938,000
<br />1,425,384
<br />3,036,000
<br />1,564,000
<br />138,000
<br />284,280
<br />401,782
<br />(245,470)
<br />-
<br />-
<br />-
<br />-
<br />191,171, 680
<br />177,124,121
<br />180, 315,980
<br />184, 776,605
<br />190,015,387
<br />846,800
<br />-
<br />-
<br />-
<br />-
<br />3,967,669
<br />New Positions inclusive of all benefits - Detention Unit
<br />2,678,621
<br />-
<br />5,700,000
<br />-
<br />-
<br />-
<br />535,800
<br />1,713,555
<br />7,307,518
<br />4,848,673
<br />2,000,000
<br />2,000,000
<br />Total Revenues 203,399,704 184,431,639 185,164,653 186,776,605 192,015,387
<br />Budgeted Expenditures for:
<br />Estimated operating expenditures from
<br />previous fiscal year
<br />192,214,857
<br />201,382,904
<br />183,261,639
<br />183,980,981
<br />184,132,538
<br />RCCC Current Expense Funding
<br />37,044
<br />School Current Expense Funding
<br />840,000
<br />New Debt Service
<br />Housing Unit for Detention Center
<br />(154,250)
<br />(124,000)
<br />(124,000)
<br />(145,000)
<br />(146,500)
<br />School Debt
<br />4,735,000
<br />(142,050)
<br />(197,950)
<br />(224,400)
<br />(189,400)
<br />Qualified School Construction Bonds
<br />748,098
<br />28,027
<br />1,330,000
<br />Retirement of Debt Service
<br />(817,445)
<br />(1,490,977)
<br />(188,708)
<br />(897,743)
<br />(2,286,744)
<br />Fulfilled /Added Econ Dev Incentive Grants
<br />(345,223)
<br />(175,000)
<br />46,000
<br />(125,000)
<br />(727,000)
<br />Obligation to Kannapolis
<br />-
<br />1,421,804
<br />44,000
<br />43,700
<br />3,300
<br />Salaries and Benefits:
<br />COLA
<br />730,154
<br />-
<br />New Positions inclusive of all benefits - Detention Unit
<br />2,678,621
<br />-
<br />-
<br />-
<br />Increase in operational cost for the Housing Unit
<br />535,800
<br />Increase (Decrease) in Contingency
<br />(219,428)
<br />-
<br />-
<br />-
<br />Undesignated Expenditures
<br />-
<br />1,140,000
<br />1.500.000
<br />1,500,000
<br />Misc. Increases (Decreases) in Operational Expenditures
<br />316,696
<br />(17,639,069)
<br />-
<br />-
<br />-
<br />Cabarrus Health Alliance Funding
<br />82,980
<br />-
<br />Total Operating Expenditures
<br />201,382,904
<br />183,261,639
<br />183,980,981
<br />184,132,538
<br />183,616,194
<br />Funding for Capital Projects:
<br />Capital Improvement Plan - Capital Reserve Funds
<br />846,800
<br />-
<br />-
<br />-
<br />-
<br />Capital Improvement Plan - General Fund Monies
<br />1,170,000
<br />1,170,000
<br />1,170,000
<br />1,170,000
<br />1,170,000
<br />Contribution to Capital Reserve Fund
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Total Expenditures
<br />203,399,704
<br />184.431.639
<br />185,150,981
<br />185,302,538
<br />184,786,194
<br />Revenues over (under) Expenditures
<br />0
<br />0
<br />13,672
<br />1,474,067
<br />7,229,193
<br />Estimated Unassigned Fund Balance
<br />18,328,832
<br />18,328,832
<br />18,342,505
<br />19,816,572
<br />27,045,766
<br />Property Tax Rate
<br />.63/100
<br />.63/100
<br />.63/100
<br />.63/100
<br />.63/100
<br />Total Debt Service Payments
<br />46,520,115
<br />44,791,115
<br />44,280,457
<br />43,013,314
<br />41,720,670
<br />as a % of Current Budget
<br />22.87%
<br />24.29%
<br />23.92%
<br />23.21%
<br />22.58%
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