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June 19, 2002 <br /> <br />ICABARRUS COUNIYI <br /> NORTH CAROLINA <br /> <br />MEMORANDUM <br /> <br />TO: Board of Commissioners <br /> <br />RE: Sales Tax Options FY 03 <br /> <br />Attached is a memo from the North Carolina Association of County Commissioners. It details a <br />plan that is progressing through the legislature. <br /> <br />IF the plan becomes legislation, then there are two options for the County: <br /> <br />1. Adopt the ½ cent sales tax as soon as possible after legislative authorization so as to <br /> maximize the potential revenue to offset the lost reimbursements ($3.7 million). <br /> <br />2. Take no action but understand that revenues of $3.7 million would be reduced in FY 03 <br /> and must be addressed on the expenditure side of the budget. <br /> <br />With Mr. Privette leaving the country for the month of July, I thought the Board may want to · <br />discuss this issue in greater detail at your recessed meeting set for June 24th at 6:00 p.m. <br /> <br />Respectfully, <br />Count' ~ <br />FWC/sb <br /> <br />Attachment <br /> <br />cc: Fletcher Hartsell <br /> <br /> Board of County Commissioners <br />P.O. Box 707 · Concord, NC 28026-0707 · 704-920-2100 · Fax 704-920-2820 · Charlotte 704-375-0829 <br /> www.co.cabarrus.nc.us <br /> <br /> <br />