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Five Year Financial Plan - B
<br />GENERAL FUND
<br />Budoeted Revenues for:
<br />Estimated operating revenues from
<br />previous fiscal year
<br />Change resulting from Revaluation
<br />Annual Change in Property Taxes
<br />Increase in Property Tax (4 cent in 2013)
<br />Register of Deeds Fees
<br />Building Inspection Fees
<br />Increase (Decrease) in other Revenues
<br />Growth in Sales taxes (1.5% & 2.0% FY12 to FY 15)
<br />Addition of 1/4 cent sales tax for education cost
<br />Reduction in Taxes -Article 39 and Article 44 (Medicaid)
<br /> Reval
<br />2011 2012 2013 2014 2015
<br />197,223,716 189,535,576 194,036,468 198,203,269 201,756,208
<br />- - (7,997,769) - -
<br />(2,939,951) 219,570 1,692,712 2,287,458 3,209,928
<br />- - 7,751,736 - -
<br />1,080 180,000 177,000 217,000 220,000
<br />(391,000) 200,000 200,000 250,000 250,000
<br />(2,895,032) - - - _
<br />(392,203) 401,322 543,122 692,481 851,751
<br />- 3,500,000 1,800,000 106,000 108,120
<br />(1,071,034) - - - _
<br />Total Re-occurring Revenues 189,535,576 194,036,468 198,203,269 201,756,208 206,396,007
<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 7,515,045 6,330,376 3,084,404
<br />Fund Balance - 1,467,756 - - -
<br />Total Revenues 194,613,599 203,744,764 206,158,314 208,186,584 209,480,411
<br />Budoeted Expenditures for:
<br />Estimated operating expenditures from
<br />previous fiscal year 189,996,364 192,533,245 202,494,410 204,648,314 207,016,584
<br />RCCC Current Expense Funding 53,714 37,044 37,785 38,541 39,312
<br />School Current Expense Funding:
<br />Current Operations 1,500,000 800,000 800,000 800,000 800,000
<br />Building and Grounds Maintenance - 40,000 40,000 40,000 40,000
<br />Opening New Schools - _ _ _ _
<br />New Debt Service
<br />Housing Unit for Detention Center 3,100,000 (154,250) (124,000) (124,000) (145,000)
<br />School Debt 2,149,154 4,735,000 (142,050) (197,950) (224,400)
<br />Parking Deck - _ _ _ _
<br />Retirement of Debt Service (1,184,755) (842,492) (1,485,616) (180,503) (896,788)
<br />Fulfilled/Added Econ Dev Incentive Grants (186,080) 52,065 (319,542) (77,148) (258,000)
<br />Maximum County Contribution for NC Research Campus - - 1,300,000 - -
<br />Salaries and Benefits:
<br />Reduction in Workforce (2,475,204) - - _ _
<br />COLA and Merits 2,030,553 2,028,284 1,962,688 1,982,998 1,950,644
<br />Restored Position -Soil & Water 49,024 - - - _
<br />Retirement Incentive/Vacation Payout (estimated) 250,000 - - - _
<br />New Positions inclusive of all benefits -Detention Unit 863,631 2,922,534 - - _
<br />Increase in operational cost for the Housing Unit - 260,000 - - -
<br />Increase(Decrease)in Contingency (86,117) - - - _
<br />Misc. Increases in Operational Expenditures (3,627,202) - - - _
<br />Cabarrus Health Alliance Funding 100,163 82,980 84,639 86,332 88,059
<br />Total Operating Expenditures 192,533,245 202,494,410 204,648,314 207,016,584 208,410,411
<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 />Contribution to Capital Reserve Fund - - _ _ _
<br />Staff position for Food Council 70,354 70,354 - - -
<br />Total Expenditures 194,613,599 203,744,764 206,158,314 208,186,584 209,480,411
<br />Revenues over (under) Expenditures - - _ _ _
<br />Estimated Unreserved Fund Balance 43,521,148 42,053,392 42,053,392 42,053,392 42,053,392
<br />as a % of Current Budget 22.36 % 20.64 % 20.40% 20.20 % 20.08
<br />Property Tax Rate .63 / 100 .63 / 100 .67 / 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 % 21.02 % 20.28°
<br />Attachment number 4
<br />G-1 Page 158
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