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May 18, 2015 (Regular Meeting) Page 2398 resulted in positive private investment projects that support our local economy; NOW THEREFORE BE IT RESOLVED the Cabarrus County Board of Commissioners hereby supports the North Carolina Historic Preservation Tax Credit Programs and their continued availability as a tool to spur economic recovery and growth in the downtown areas of our community; and BE IT FURTHER RESOLVED that a copy of this Resolution will be submitted and shared with surrounding counties and municipalities to encourage support of our position to maintain the North Carolina Historic Preservation Tax Credit Programs for continued availability to those interested in reinvesting in our historic structures. Adopted this 18th day of May, 2015. /s/ Stephen M. Morris Stephen M. Morris, Chairman Cabarrus County Board of Commissioners ATTEST: /s/ Megan I.E. Smit Megan I. E_ Smit, Clerk to the Board (G -4) County Manager - Presentation of the Proposed FY16 Cabarrus County Budget and Scheduling of a Public Hearin Mike Downs, County Manager, announced the proposed FY16 budget will be distributed to the Board following the meeting, electronically and by hard copy, per the Boards' request. He stated budget meetings will be held May 26, 2015 and May 26, 2015 and then again at the work session on June 1, 2015 with the ultimate approval on June 15, 2015 where the public hearing will be held. He then presented the following budget message to the Board: Honorable Chairman and Members of the Cabarrus County Board of Commissioners, I am delighted to submit to you the recommended Cabarrus County Operating Budget for FY16. The budget as submitted is prepared in accordance with the General Statutes of North Carolina and the Local Government Budget and Fiscal Control Act. The mission, vision and action plan of the Board of Commissioners has continued to provide valuable structure and direction in the preparation of this balanced budget. County staff initiated the FY16 budget process in November of 2014, when staff reviewed programs and services for effectiveness and efficiency. Where appropriate, some of these findings are proposed for implementation in the upcoming budget. As in previous years, the construction of the proposed budget allows for appropriate funding of mandated functions of county government, as well as the programs and services expected by our citizens. It is my recommendation that the Board of Commissioners consider a General Operating Budget in the amount of $218,657,209 for FY16, which represents a 4.3% increase in spending from the FY15 adopted budget. The proposed budget meets current departmental needs and future needs of the County by maintaining existing or lower levels of spending in most departments, while providing additional supplements to areas with increased service demands. The plan also addresses growth within the school capital and current expenses and plans for their future needs. Short -term Economic and Operational Impacts on the County Budget 1. The National, State and local economies continue to experience positive economic growth, which is estimated to increase ad valorem and sales tax revenues by $8,657,878 in FY16. We project 1.7% growth in ad valorem taxes and 3% growth in sales taxes when you compare projected actual FY15 to projected budget FY16. While our projections meet statutory requirements and conform to the projected range of the North Carolina Association of County Commissioners, staff continues to remain conservative in our approach to project for budgeting purposes.