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148
<br />
<br />The BOard of Commissioners for the County of Cabar. rus
<br />
<br />met in special session at the Courthouse in Concord, North
<br />
<br />Carolina on Thursday, May 25, 1978 at 12:00 A.M.
<br />
<br />Present - Chairman: S. Glenn Hawfield, Jr.
<br />
<br />Commissioners:
<br />
<br />Robert A. McClary
<br />John A. Hammett
<br />Marcelle Milloway
<br />Troy R. Cook
<br />
<br />Chairman Hawfield announced that the meeting was called
<br />
<br />to receive the proposed budget for fiscal year 1978-79.
<br />
<br />County Manager Charles McGinnis presented the budget
<br />
<br />and read the following budget message:
<br />
<br />The Cabarrus County General Fund budget for fiscal year 1978-79,
<br />as requested by all departments, is $14,462,647.50. The
<br />tax rate required if the budget is.adopted as requested by
<br />the departments would be 76¢ compared to 63¢ for 1977-78.
<br />
<br />I have recommended a reduction of requests by $1,271,511.08.
<br />The recommendations for each fund are as follows:
<br />
<br />General Fund
<br />Debt Service Fund
<br />Public Assistance Fund
<br />Revenue Sharing Fund
<br />Capital Projects Fund
<br />Capital Projects Renovation Fund
<br />Revaluation Fund
<br />
<br />$13,647,889.53
<br />$769,773.00
<br />$1,945,000.00
<br />$1,383,088.89
<br />$218,544.53
<br />$1,000,000.00
<br />$201,000.00
<br />
<br />The supporting revenues for the departmental request are
<br />$13,288,343.00. The revenues are broken down as follows:
<br />
<br />Ad Valorem Tax 63¢
<br />Prior Year Tax
<br />Intragovernmental Revenue
<br />State & Federal Grants
<br />Social Services Revenue
<br />Health Revenues
<br />Other Revenues
<br />Fund Balance Appropriation
<br />
<br />$5,862,780.00
<br />$125,000.00
<br />$2,068,000.00
<br />$1,746,506.00
<br />$800,953.00
<br />$686,899.00
<br />$998,205.00
<br />$1,000,000.00
<br />
<br />$13,288,343.00
<br />
<br />After a reduction of departmental requests in the General
<br />Fund, the recommendation is $13,647,889.53, and the General
<br />Fund Revenue is anticipated at $13,288,343.00. Therefore,
<br />an additional reduction of $359,546.53 would be needed to
<br />maintain the tax rate at its present level. The revenue
<br />for the other funds is the same as the recommended appro-
<br />priations. The estimated property tax value for 1978-79
<br />is $990,000,000.00.
<br />
<br />The Debt Service Fund contribution from the General Fund
<br />shows an increase of $33,943 which reflects the first bond
<br />interest payment due in June and the expenses of the bond
<br />sale.
<br />
<br />The Revenue Sharing Fund has essentially the same allocation
<br />to the schools as last fiscal year. $380,000.00 is allocated
<br />to the construction project Building "B"
<br />
<br />
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