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May 22, 2012 (Recessed Meeting) Page 1086
<br />The Board of Commissioners for the County of Cabarrus met in recessed
<br />session in the Multipurpose Room at the Cabarrus County Governmental Center
<br />in Concord, North Carolina on Tuesday, May 22, 2012, at 4:00 p.m.
<br />Present - Chairman:
<br />Vice Chairman
<br />Commissioners
<br />Elizabeth F. Poole
<br />Larry M. Burrage
<br />Robert W. Carruth
<br />Christopher A. Measmer
<br />Absent - Commissioner
<br />H. Jay White, Sr.
<br />Also present were Mike Downs, County Manager; Pam Dubois, Deputy County
<br />Manager, Jonathan Marshall, Deputy County Manager, Erica Nesbitt, Budget and
<br />Performance Manager and Kay Honeycutt, Clerk to the Board.
<br />Commissioner White was absent due to a death in his family.
<br />Call to Order
<br />Chairman Poole called the meeting to order at 4:00 p.m.
<br />Overview of Operating Budget
<br />Erica Nesbitt, Budget and Performance Manager, presented an overview of
<br />the proposed FY 12 -13 budget. Ms. Nesbitt, Mike Downs, County Manager, Pam
<br />Dubois, Deputy County Manager and Jonathan Marshall, Deputy County Manager
<br />responded to questions from the Board. Highlights of the overview included
<br />the following:
<br />Overview
<br />General Fund
<br />FY 12 Amended
<br />FY 13 Recommended
<br />Difference
<br />Tax Rate
<br />$0.63
<br />$0.70
<br />$0.07
<br />Valuation
<br />$20,991,516,428
<br />$18,400,470,359
<br />-12.3%
<br />Penny
<br />$2,041,171
<br />$1,797,778
<br />-11.90
<br />Budget All Funds
<br />$269,690,127
<br />$211,152,696
<br />-21.7%
<br />Budget General Fund
<br />$255,701,043
<br />$200,011,036
<br />-21.7%
<br />FTEs
<br />957.13
<br />950.86
<br />-6.27
<br />General Fund
<br />$200,011,036
<br />Landfill Fund
<br />1,148,000
<br />Arena & Events Fund
<br />1,587,884
<br />911 Emergency Fund
<br />686,674
<br />Health Insurance Fund
<br />7,719,102
<br />All Funds
<br />$211,152,696
<br />Revenue by Source - All Funds
<br />Source
<br />FY 2012 Amended
<br />FY 2013 Proposed
<br />Percent Change
<br />Ad Valorem Taxes
<br />131,042,744
<br />127,412,626
<br />- 2.77',
<br />Other Taxes
<br />28,977,215
<br />31,501,635
<br />8.71'
<br />Intergovernmental Revenues
<br />19,967,892
<br />20,103,574
<br />0.68'
<br />Permits & Fees
<br />2,544,500
<br />2,914,834
<br />14.55
<br />Sales & Services
<br />18,731,990
<br />18,643,531
<br />-0.47
<br />Miscellaneous
<br />315,830
<br />168,272
<br />-46.72
<br />Investment Income
<br />4,409,250
<br />151,000
<br />-96.58
<br />Other Financing Sources
<br />48,020,151
<br />10,257,224
<br />-78 -64
<br />Fund Balance Appropriated
<br />15,680,555
<br />-
<br />-'
<br />Total
<br />$269,690,127
<br />$211,152,696
<br />-21.71
<br />Ms. Nesbitt also reviewed the projected revenues for FY 2013 for all
<br />funds by source and responded to questions from the Board. The projected
<br />revenues are as follows: ad valorem taxes - 60.34 other taxes - 14.92 %,
<br />intergovernmental - 9.52 %, permits and fees - 1.38 %, sales and services -
<br />8.83 %, miscellaneous - 0.08 %, investment income - 0.07% and other funding
<br />sources - 4.86 %.
<br />Revenue Neutral Tax Calculation
<br />Erica Nesbitt, Budget and Performance Manager, reviewed the calculation
<br />for the revenue neutral tax of 0.7202 for FY 13 and related tax revenue as
<br />set forth in the Agenda.
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