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May 25, 2010 (Recessed Meeting)
<br />Five Year Financial Plan - B
<br />Page 1945
<br />Sragpard Debr Issue June 2049 and June 2011
<br />GENERAL FUND Reval
<br />Budgeted Revenues for:
<br />2011
<br />2012
<br />2013
<br />2014
<br />2015
<br />Estimated operating revenues from
<br />800,00®
<br />800,000
<br />1070,000
<br />40,000
<br />40,000
<br />previous fiscal year
<br />19743,716
<br />189,531,520
<br />194,032,412
<br />199,561,2T1
<br />203,138,109
<br />Cringe resulting from Revaluation
<br />(842,492)
<br />(1485,616)
<br />(7,997,769)
<br />52,065
<br />(319,542)
<br />Annual Change in Property Taxes
<br />(2,939,951)
<br />219,570
<br />1,692,712
<br />2,311,357
<br />3,243,464
<br />Increase in Property Tare (4.7)
<br />22.35%
<br />20.30%
<br />9,113,794
<br />18.94%
<br />18.03%
<br />Reg ister 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,DDO
<br />250,000
<br />Increase(Decrease)in other Revenues
<br />(2,899,088)
<br />22.52%
<br />21.34%
<br />21.16%
<br />20.35%
<br />GrovAh in Sales taxes (1.59x, & 2.0% FY12 to FY 15)
<br />(392,203)
<br />401,322
<br />543,122
<br />692,481
<br />851,751
<br />Addition (A 114 cent sales tax for education cost
<br />3;500,000
<br />1,800,000
<br />106, 000
<br />1 D8, 120
<br />Reduction in Taxes- Article 39 and Article 44(Mediraid)
<br />(1,071,034)
<br />Total Re- occurring Revenues
<br />189,531,520
<br />194,032,412
<br />199,561,271
<br />203,138,109
<br />207,811,444
<br />One Time Revenue Sources
<br />Capital Reserve Funds
<br />1,090,()00
<br />110,1700
<br />440,000
<br />100,DDO
<br />Capitalized Interest Proceeds - School Debt
<br />3,967,669
<br />3,967,669
<br />Grants (Library)
<br />10001X)
<br />Lottery Proceeds
<br />4,092,517
<br />7,985,441
<br />5,783,841
<br />3,816,604
<br />Fund Balance
<br />2,056,127
<br />-
<br />2,068,1TO
<br />1,551,269
<br />Total Revenues
<br />194,689,189
<br />204,258,725
<br />207,986,712
<br />211,090,120
<br />213,179,317
<br />Budoeted 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 />Retire merit of Debt Service
<br />FulfilleditAdded Eca1 Dev Incentive Grants
<br />Maximum County Cwrirtbuto n for NC Research Campus
<br />Salaries and Benefits-
<br />Reduction in Workforce
<br />COLA and Merits
<br />Avg Growth In New Positions inclusive of all benefits
<br />New Positions inclusive of all benefits - EMS Shift
<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 in Operational Expenditures
<br />Vehicles New 8 Replacements - General Govt
<br />Building Maintenance Repairs
<br />Cabanus Health Alliance Funding
<br />Total Operating Expenditures
<br />Funding for Capital Protects:
<br />189,996,364
<br />192,529,189
<br />203,078,725
<br />53,714
<br />37,044
<br />37,785
<br />1,501,341
<br />800,00®
<br />800,000
<br />1070,000
<br />40,000
<br />40,000
<br />3,1100,000
<br />(154,250)
<br />(124,000)
<br />2,149,154
<br />4,735,000
<br />(142,050)
<br />(1,184,755)
<br />(842,492)
<br />(1485,616)
<br />(186,080)
<br />52,065
<br />(319,542)
<br />Estimated Unreserved Fund Balance
<br />43,521,148
<br />1,300,000
<br />(2,475,204)
<br />2,380,553 2,616,871 2,622,175
<br />863,631 2,922,534
<br />260,001 -
<br />(89,649)
<br />(3,579,880)
<br />205,891,896
<br />38,541
<br />8DO,DDO
<br />40, DDO
<br />(124,000)
<br />(197,950)
<br />903, 000
<br />(180,503)
<br />(77,148)
<br />2,740,176
<br />209,920,120
<br />39,312
<br />800,000
<br />40,0X10
<br />(145,DDO)
<br />(224,400)
<br />(1,1X70)
<br />(895,788)
<br />(258,000)
<br />2,747,243
<br />82,764 84,419 86,108 87,830
<br />192,529,189 203,078,725 265,891,896 209,920,120 212,109,317
<br />Capital Improvement Plan- Capital Reserve Funds
<br />1,090,0DO
<br />110,000
<br />440,000
<br />10O,DDO
<br />Capital Improvement Plan- General Fund Monies
<br />1,070,000
<br />1,070,000
<br />1070,000
<br />1,070,1100
<br />1,07,000
<br />Total Expenditures
<br />194,689,189
<br />204,258,725
<br />20T,401,896
<br />211,090,120
<br />213,178,317
<br />Revenues over (under) Expenditures
<br />-
<br />-
<br />584,816
<br />-
<br />-
<br />Estimated Unreserved Fund Balance
<br />43,521,148
<br />41,465,021
<br />42,049,837
<br />39,981,667
<br />38,430,398
<br />as a % of Current Budget
<br />22.35%
<br />20.30%
<br />2027%
<br />18.94%
<br />18.03%
<br />Property Tax Rate
<br />.631100
<br />.631100
<br />.6771100
<br />.677 J 100
<br />.677 1100
<br />Total Debt Service Payments
<br />42,269,653
<br />46,007,911
<br />44256,245
<br />44,656,792
<br />43,389,604
<br />as a % of Current Budget
<br />21.71%
<br />22.52%
<br />21.34%
<br />21.16%
<br />20.35%
<br />Following a discussion on the TIF (Tax Increment Financing) payment of
<br />$1.3 million scheduled for FY 2013, Chairman White asked the County Manager
<br />to invite the Kannapolis Mayor and City Manager to attend the Board's budget
<br />workshop scheduled for Thursday, May 27, 2010. The calculation of the COLA
<br />(Cost of Living Adjustment) and merit raises (Personnel Management Plan) for
<br />employees were also discussed.
<br />Proposed Fee Changes - Libraries
<br />Kalesha Kennedy, Budget & Performance Manager, reviewed the following
<br />proposed new fee charges for the libraries:
<br />• Damage to library materials - $5
<br />• Un- repairable items: list price plus $5 processing fee
<br />• Lost materials - $5
<br />• List price at time of purchase plus $5 processing fee
<br />Recess of Meeting
<br />UPON MOTION of Commissioner Carruth, seconded by Commissioner Mynatt
<br />and unanimously carried, the meeting was recessed at 6:08 p.m. until 3:30
<br />p.m. on Wednesday, May 26, 2010 in the Multipurpose Room of the Governmental
<br />Center.
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