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January 29, 2011 (Board Retreat) Page 300
<br />Five Year Financial Plan - C
<br />Eliminates the 114 Cent Sales Tax Option in FY2012
<br />GENERAL FUND Adjust for appeals RevalRevenue Neutral
<br />Budgeted Revenues for:
<br />2011_
<br />2412
<br />2013
<br />2014
<br />2476
<br />Estimated operating revenues from
<br />28,200
<br />28,623
<br />29,052
<br />1,500,000
<br />800,000
<br />previous fiscal year
<br />197,223,716
<br />189,535,576
<br />188,743,972
<br />191,559,954
<br />199,872,590
<br />Change resulting from Revaluation
<br />-
<br />-
<br />197,542
<br />-
<br />-
<br />Annual Change in Property Taxes
<br />(2,939,951)
<br />(1,572,926)
<br />1,698,318
<br />2,279,904
<br />3,343,001
<br />Inc (Dec) in Property Tax ( 2.501 cent FY14)
<br />(842,492)
<br />(1,485,616)
<br />(180,503)
<br />4,873,251
<br />(186,080)
<br />Register of Deeds Fees
<br />1,080
<br />180,000
<br />177,000
<br />217.000
<br />220,000
<br />Building Inspection Fees
<br />(391,000)
<br />200,000
<br />200,000
<br />250,000
<br />250,000
<br />Increase (Decrease) in other Revenues
<br />(2,895,032)
<br />-
<br />-
<br />-
<br />1,003,725
<br />Growth (Dec) in Sales taxes
<br />(392,203)
<br />401,322
<br />543,122
<br />692,481
<br />851,751
<br />Adtlition of 1/4 cent sales tax for education cost
<br />-
<br />-
<br />-
<br />-
<br />863,631
<br />Reduction In Taxes - Article 39 and Article 44 (Medicaid)
<br />(1,071,034)
<br />-
<br />-
<br />260,000
<br />Total Re- occurring Revenues
<br />189,535,576
<br />188,743,972
<br />191,559,954
<br />199,872,590
<br />204,537,432
<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 />Cent from capital Projects Funds 5,700,000
<br />Lottery Proceeds 4,815,000 3,695,033 1,300,000 1,300,000
<br />Fund Balance 8,728,685 4,314,489 61,428
<br />Total Revenues 194,613,599 20 3.408,99 5 ____204 423,672 205,587,059 205,898 860
<br />Budgeted Expenditures for:
<br />Estimated operating expenditures from
<br />previous fiscal year
<br />RCCC Current Expense Funding
<br />School Current Expense Funding:
<br />Current Operations
<br />Building and Grounds Maintenance
<br />Opening New Schools
<br />New Debt Service
<br />Housing Unit for Detention Center
<br />School Debt
<br />Parking Deck
<br />Retirement of Debt Service
<br />Fulfill"Added Econ Dev Incentive Grants
<br />Maximum County Contribution for NC Research Campus
<br />Salaries and Benefits:
<br />Reduction in Workforce
<br />COLA
<br />Restored Position - Soil & Water
<br />Retirement IncentivelVacation payouts (estimated)
<br />New Positions inclusive of all benefits - Detention Unit
<br />Increase in operational cost for the Housing Unit
<br />Increase (Decrease) in Contingency
<br />Misc. Increases (Decreases) in Operational Expenditures
<br />Vehicles New & Replacements - General Govt
<br />Bu'lcAng Maintenance Repairs
<br />Cabarrus Health Alliance Funding
<br />Total Operating Expenditures
<br />Fundina for Capital Protects:
<br />Capital Improvement Plan - Capital Reserve Funds
<br />Capital Improvement Plan - General Fund Monies
<br />Staff position for Food Councl
<br />Total Expenditures
<br />Revenues over (under) Expenditures
<br />Estimated Unreserved Fund Balance
<br />as a % of Current Budget
<br />Property Tax Rate
<br />Total Debt Service Payments
<br />as a % of Current Budget
<br />189,996,364
<br />192 ,533,245
<br />201,648,960
<br />202,913,672
<br />204,417,059
<br />53,714
<br />27,783
<br />28,200
<br />28,623
<br />29,052
<br />1,500,000
<br />800,000
<br />800,000
<br />800,000
<br />800,000
<br />-
<br />40,000
<br />40,000
<br />40,000
<br />40,000
<br />3,100,000
<br />(154,250)
<br />(124,000)
<br />(124,000)
<br />(145,000)
<br />2,149,154
<br />4,735,000
<br />(142,050)
<br />(197,950)
<br />(224,400)
<br />(1,184,755)
<br />(842,492)
<br />(1,485,616)
<br />(180,503)
<br />(896,788)
<br />(186,080)
<br />52,065
<br />(371,477)
<br />25,376
<br />(216,625)
<br />1,422,000
<br />44,000
<br />43,700
<br />(2,475,204)
<br />-
<br />-
<br />-
<br />-
<br />1,680,553
<br />1,212,840
<br />1,034,487
<br />1,003,725
<br />916,784
<br />49,024
<br />-
<br />-
<br />250,000
<br />-
<br />863,631
<br />2,922,534
<br />-
<br />260,000
<br />263,883
<br />-
<br />-
<br />(3,627,202)
<br />100,163
<br />62,235
<br />63,168
<br />64,116
<br />65,078
<br />192,533,245
<br />201,648,960
<br />202,913,672
<br />204,417,059
<br />204,828,860
<br />940,000
<br />110,000
<br />440.000
<br />100,000
<br />-
<br />1,070,000
<br />1,070,000
<br />1,070,000
<br />1,070,000
<br />1,070,000
<br />70,354
<br />70,354
<br />194,613,599
<br />202,899.314
<br />2 423,672
<br />205,587 059
<br />2 ®,898,880
<br />-
<br />507,681
<br />0
<br />0
<br />58,436,158
<br />68,943,839
<br />50,215,154
<br />45,900,685
<br />45,839,257
<br />30.03%
<br />29.05%
<br />24.55%
<br />22.33%
<br />22.28%
<br />.631100
<br />.63/100
<br />.6849/100
<br />.711100
<br />.7111100
<br />42,260,653
<br />46,007,911
<br />44,256,245
<br />43,753,792
<br />42,487,604
<br />21.72%
<br />22.68%
<br />21.65
<br />21.28%
<br />20.64%
<br />Afterwards, a lengthy discussion ensued. Issues addressed were:
<br />possible cuts to discretionary departments /services; freezing expenditures at
<br />various funding levels; funding for schools and outside agencies; Federal
<br />entitlements; the undetermined impact the State's budget deficit will have on
<br />the county's budget; a quarter -cent ( percent) sales tax referendum; etc.
<br />After discussion, the Board requested the preparation of four (4)
<br />additional scenarios for presentation at the February work session, i.e., two
<br />(2) with the additional 1 4 percent sales tax, one of which freezes spending at
<br />FY11 levels, the other freezing spending at FY12 levels. And, two (2)
<br />scenarios without the additional 1 -4 percent sales tax, one of which freezes
<br />spending at FY11 levels, the other freezing spending at FY12 levels.
<br />County Manager Day stated the retreat was very productive and
<br />anticipated the retreat data would be disseminated in 2 -4 weeks.
<br />Adjourn
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Measmer
<br />and unanimously carried, the meeting adjourned at 4:09 p.m.
<br />Cle t e B
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