|
May 23, 2017 (Budget Meeting) Page 3162
<br /> Royal Oaks Replacement of Royal Oaks Capital Reserve Funds 1,864,650 159
<br /> Elementary Elementary
<br /> Southwest Southwest Elementary School Capital Reserve Funds 1,279,250 154
<br /> Elementary
<br /> Weddington Road New Weddington Road High School Capital Reserve Funds 669,250 163
<br /> High School
<br /> Rowan Cabarrus Community Business Technical Capital Reserve Funds 100,000 160
<br /> Community College Center A/C Unit Replacement
<br /> (Phase II)
<br /> Cabarrus County Performance Learning Center Capital Reserve Funds 371,709 151
<br /> Schools
<br /> Economic and Prime Farmland Soil Multi-Year Funds 90,000 124
<br /> Physical
<br /> Development
<br /> Total $7,344,970
<br /> Ms. Fearrington also noted that projects beyond FY18 do not yet have
<br /> assigned funding sources. She advised County staff is working with both school
<br /> districts and the community college to develop an extensive capital needs and
<br /> maintenance list for future years.
<br /> Pam Dubois, Senior Deputy County Manager, reviewed a handout of
<br /> anticipated revenue needs for FY19 and FY20.
<br /> A discussion ensued. Ms. Jones reviewed the following information relating
<br /> to the 5-year plan.
<br /> 5-Year Plan
<br /> / The 5-year plan provides a one-page summary of the major changes in
<br /> the budget from FY17 to FY18. It also provides projections into the
<br /> future for the next four years of projected revenue growth and some of
<br /> the major projected expenditures.
<br /> The Five-Year Plan is as follows:
<br /> Five Year Financial Plan - Proposed
<br /> GENERALFUND
<br /> Budgeted Revenues for: 2018 2019 2020 2021 2022
<br /> Amended Budget less one time revenues from the
<br /> previous fiscal year S 231.911.326 $ 244,620,485 $ 249,753,193 $ 255.019,079 $ 271,091,541
<br /> Ad valorem
<br /> Growth for revaluation(8%) - - - 10,669,683 -
<br /> Growth in tax revenues (4.8%FY18,2.4%FY19-FY21,1.1%FY22) 6,295,080 3,352,183 3,434,512 3,518.873 1,711,448
<br /> Growth in tax DMV revenues(7%FY18,4%FY19-FY22) 658,548 528,220 549,349 571,323 594,176
<br /> Other Taxes
<br /> Growth in Sales taxes(7.8%FY18,2%FY19-FY22) 3,457.835 957,879 977,037 996,577 1,016,509
<br /> Permits&Fees
<br /> Ambulance Fees(2%FY18,1%FY19-FY22) 231,079 53,936 54,414 54,897 55,384
<br /> Building Inspection Fees(0%FY18,3%FY19-FY22) 395,121 96,904 99,811 102,805 105,689
<br /> Register of Deeds(5%FY18,5%FY19-FY22) 439,750 143,586 150,763 158,304 166,219
<br /> Other
<br /> Increase in Interest on Investments 220,000 - - - -
<br /> Increase in Statewide Misdemeanor Confinement Program Fees 174,000
<br /> Increase in Medicaid Hold Harmless 1,023,777
<br /> Increase(Decrease)in other Revenues (386,031) - - -
<br /> Total Recurring Revenues 244,620,4B5 249,753,193 255,019,079 271,091,541 274,741,166
<br /> One Time Revenue Sources
<br /> Lottery Proceeds 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
<br /> Total One-time Revenues 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
<br /> Total Revenues 246,620,485 251,753,193 257,019,079 273,091.541 276,741,166
<br /> Budgeted Expenditures for:
<br /> Amended Budget less one time expenditures from the
<br /> previous fiscal year $ 232,373,758 $ 246,620,485 $ 249,289,744 $ 249,152,326 S 249,422.963
<br /> County Services
<br /> New Position Request(includes reclassifications) 1,638,522 - - - -
<br /> Salary Study 450,000 -
<br /> Merit increase-1.52%average 500,000 899,508 926,878 955,081 984,143
<br /> Cost of Living Adjustment-(2%FY18,1.5%FYI 9-FY 22) 1,126,091 874,554 901,165 928,586 956,841
<br /> Health Insurance increases(includes retirees) 323,252 500,000 500,000 500,000 500,000
<br /> Debt
<br /> Retirement of Debt Service (1,489,900) (2,089.980) (2,808.569) (1,403,847) (3,088,255)
<br /> Wallace Park Land(5 years) 49,000 -
<br /> Parking Deck Downtown(20 years) 927,281 227,219 (24,000) (24,000) (30,000)
<br /> New High School(20 years) 4,252,478 1.023,072 (109,400) (109,400) (136,750)
<br /> Performance Learning Center(7 years) 643,607 59.893 (22,000) (22,000) (27,500)
<br /> Warehouse(Hwy 49)(7 years) 643,607 59,893 (22,000) (22,000) (27,500)
<br /> Motorola Equipment lease(2 years) - 170,100 (170,100)
<br /> Schools
<br /> Additional Current Expense Funding 2,351,439 -
<br /> Additional Current Expense Funding-RCCC 227,471
<br />
|