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Electric, Water and Sewer charges will generate $66,280,064 in revenues. No increase is <br />proposed for electric rates. However, some minor fee changes are proposed for Electric services. <br />Also, changes are proposed for water and wastewater rates and fees and all of the proposed <br />changes are reflected in the Schedule of Fees and Charges. <br /> <br />The following items are proposed to be delayed and/or eliminated if the state decides to withhold <br />our reimbursements: <br /> <br />RECOM_ME~ED CUTS 12F REI1VIBURSEMENTS ARE NOT RECEIVED' <br /> <br /> Reduce Citizen Communication Budget <br /> External Agencies <br /> New Positions <br /> Land Purchases for Fire Department <br /> New Equipment - Fire Department <br /> Street Resurfacing <br /> Pedestrian Bridge -Lincoln Street <br /> Lease of CAD (OSSI) System - Police <br /> Upgrade & Move Radio Equipment <br /> Biodegradable Leaf Bag Program <br /> Lease of Knuckleboom Truck <br />Lease of 25 Rear Loader Garbage Truck <br />Lease of Jet Vac Truck & TV Camera <br />Lease of Diesel Truck <br />Lease of New Pumper (Station//5) <br />Lease of New Police Vehicles <br />Union Street Tree Replacement <br />Webb Field Restrooms <br />Parks & Recreation - New Equip <br />Contract for Sign Inventory <br />Marketing Classic Concord <br />Concord Downtown Development <br />Various Technology Equipment <br />Transfer to 2 cent Fund <br />Neighborhood Traffic Calming <br />Streetscape Improvements <br />Stormwater Mapping <br /> <br /> $32,000 <br /> 43,500 <br /> 179,000 <br /> 225,000 <br /> 39,600 <br /> 40,000 <br /> 60,000 <br /> 105;530 <br /> 150,000 <br /> 20,000 <br /> 11,320 <br /> 14,014 <br /> 36,083 <br /> 5,930 <br />34,072 <br />48,760 <br />10,000 <br />45,000 <br />31,800 <br />10,000 <br />10,000 <br />15,000 <br />167,575 <br />257,805 <br />20,000 <br />41,000 <br />10,000 <br /> <br />(Admin & Solid Waste) <br /> <br />We have estimated our revenues conservatively using information provided by the North Carolina <br />League of Municipalities. We hope that with the adjusted tax rates by the other units of local <br />government in the County, we will once again receive our fair share of sales tax allocations. The <br />sales tax allocations for Cabarrus County are based on proportional property tax levies. Again, <br />this budget was prepared under the assumption that the City of Concord will receive .all of its <br />State shared revenues for the 2002-2003 fiscal year, however we have a contingency plan in place <br />should we not receive those. <br /> <br />Intangibles Tax Reimbursements: The State of North Carolina levied an intangibles tax on cash <br />on .deposit in banks/financial institutions; cash on deposit with insurance companies; accounts <br />receivable in excess of accounts payable; bonds, notes, and other evidences of debt; shares of <br />stock; and beneficiary interests in foreign trusts. A portion of these taxes was distributed to <br />municipalities based on the origin of the assets. On January 1, 1985, the tax on cash and deposits <br /> <br /> <br />