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Five Year Financial Plan - A
<br />GENERAL FUND Reval
<br />Budgeted Revenues for: 2011 2012 2013 2014 2015
<br />Estimated operating revenues from
<br />previous fiscal year
<br />197,223,716
<br />189,535,576
<br />194,036,468
<br />190,451,533
<br />201,756,207
<br />Change resulting from Revaluation - - (7,997,769) -
<br />Annual Change in Property Taxes (2,939,951) 219,570 1,692,712 2,150,893 3,209,928
<br />Increase in Property Tax (4 cent in FY 2014) - - - 7,888,300 -
<br />Register of Deeds Fees 1,080 180,000 177,000 217,000 220,000
<br />Building Inspection Fees (391,000) 200,000 200,000 250,000 250,000
<br />Increase (Decrease) in other Revenues (2,895,032) - - - -
<br />Growth (Dec) in Sales taxes (392,203) 401,322 543,122 692,481 851,751
<br />Addition of i/4 cent sales tax for education cost - 3,500,000 1,800,000 106,000 108,120
<br />Reduction in Taxes -Article 39 and Article 44 (Medicaid) (1,071,034) - - - -
<br />Total Re-occurring Revenues 189,535,576 194,036,468 190,451,533 201,756,207 206,396,006
<br />One Time Revenue Sources
<br />Capital Reserve Funds 940,000 110,000 440,000 100,000 -
<br />Capitalized Interest Proceeds -School Debt 3,967,669 3,967,669 - - -
<br />Grants (Library/Staff for Food Council) 170,354 70,354 - - -
<br />Lottery Proceeds - 4,092,517 7,985,442 6,405,342 3,949,435
<br />Fund Balance - 1,467,756 7,229,404 - -
<br />Total Revenues 194,613,599 20~3,744,7~64 206,106,379 208,261,549 210,345,441
<br />Budgeted Expenditures for:
<br />Estimated operating expenditures from
<br />previous fiscal year
<br />RCCC Current Expense Funding
<br />School Current Expense Funding:
<br />Current Operations
<br />Building and Grounds Maintenance
<br />Opening New Schools
<br />New Debt Service
<br />Housing Unit for Detention Center
<br />School Debt
<br />Parking Deck
<br />Retirement of Debt Service
<br />Fulfilled/Added Econ Dev Incentive Grants
<br />Maximum County Contribution for NC Research Campus
<br />Salaries and Benefits:
<br />Reduction in Workforce
<br />COLA and Merits
<br />Restored Position -Soil & Water
<br />Retirement IncentivelVacation payouts (estimated)
<br />New Positions inclusive of all benefits -Detention Unit
<br />Increase in operational cost for the Housing Unit
<br />Increase (Decrease) in Contingency
<br />Misc. Increases (Decreases) in Operational Expenditures
<br />Vehicles New & Replacements -General Govt
<br />Building Maintenance Repairs
<br />Cabarrus Health Alliance Funding
<br />Total Operating Expenditures
<br />189,996,364 192,533,245 202,494,410 204,596,379 207,067,173
<br />53,714 37,044 37,785 38,541 39,312
<br />1,500,000 800,000 800,000 800,000 800,000
<br />- 40,000 40,000 40,000 40,000
<br />3,100,000 (154,250) (124,000) (124,000) (145,000)
<br />2,149,154 4,735,000 (142,050) (197,950) (224,400)
<br />(1,184,755) (842,492) (1,485,616) (180,503) (896,788)
<br />(186,080) 52,065 (371,477) 25,376 (216,625)
<br />- - 1,300,000 - -
<br />(2,475,204) - - - -
<br />2,030,553 2,028,284 1,962,688 1,982,998 1,950,644
<br />49,024 - - - -
<br />250,000 - - - -
<br />863,631 2,922,534 - - -
<br />- 260,000 - - -
<br />(86,117) - - - -
<br />(3,627,202) - - - -
<br />100,163 82,980 84,639 86,332 88,059
<br />192,533,245 202,494,410 204,596,379 207,067,173 208,502,375
<br />Funding for Capital Projects:
<br />Capital Improvement Plan -Capital Reserve Funds 940,000 110,000 440,000 100,000 -
<br />Capital Improvement Plan -General Fund Monies 1,070,000 1,070,000 1,070,000 1,070,000 1,070,000
<br />Staff position for Food Council 70,354 70,354 - - -
<br />Total Expenditures 194,613,599 203,744,764 206,106,379 208,237,173 209,572,375
<br />Revenues over (under) Expenditures - - - 24,376 773,066
<br />Estimated Unreserved Fund Balance 43,521,148 42,053,392 34,823,988 34,848,364 35,621,430
<br />as a % of Current Budget 22.36 % 20.64 % 16.90 % 16.73 % 17.00
<br />Property Tax Rate .63 / 100 .63 / 100 .63 / 100 .67 / 100 .67 / 100
<br />Total Debt Service Payments 42,269,653 46,007,911 44,256,245 43,753,792 42,487,604
<br />as a % of Current Budget 21.72 % 22.58 % 21.47 % 21.01 % 20.27
<br />Attachment number 4
<br />G-1 Page 157
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