Orange County NC Website
Browse       Search
3 <br /> 1 Frank Clifton said that changes to the recycling program are reflected as well. He said <br /> 2 that current recycling programs for next fiscal year are funded by using one year of reserve <br /> 3 funds from solid waste and delaying capital improvements. <br /> 4 Frank Clifton said the task of establishing a tax service district needs to be a priority for <br /> 5 2013-14, to be implemented in 2014-15. <br /> 6 He said this budget attempts to provide fiscally sound projections. He said the Board of <br /> 7 County Commissioners makes the final budget decisions and sets the tax rates. He said <br /> 8 balancing demands while addressing challenges requires difficult decisions; and as dire as it <br /> 9 sounds, the county's budget process is in far better shape than most areas in the state. <br /> 10 <br /> 11 Clarence Grier presented a Budget overview with the following PowerPoint slides: <br /> 12 <br /> 13 County Manager's recommended FY 2013-14 Annual Operating Budget and Capital <br /> 14 Investment Plan <br /> 15 Presentation <br /> 16 Southern Human Services Center, Chapel Hill <br /> 17 Orange County, NC <br /> 18 May 21, 2013 <br /> 19 <br /> 20 Guiding Principles <br /> 21 • Balances County's operating budget without a property tax rate increase— 5th <br /> 22 Consecutive Year <br /> 23 • Provides funding for County services at current levels <br /> 24 • Funds local school districts enrollment growth, operational funding and debt service. <br /> 25 <br /> 26 Recommended General Fund Budget <br /> 27 • Totals $185.9 million <br /> 28 - Represents an increase of$5.9 million from original current year budget of$180.0 <br /> 29 million, which is a 3.29 percent increase from previous year original budget <br /> 30 - Represents a $6.2 million decrease in the current year's amended budget <br /> 31 <br /> 32 Components of General Fund Budget <br /> 33 General Fund Revenues $182,554,881 <br /> 34 General Fund Unassigned Fund balance $3,366,309 <br /> 35 General Fund Expenditures $(185,921,190) <br /> 36 Net $ <br /> 37 <br /> 38 Orange County Budget <br /> 39 Past 6 Fiscal Years (Bar Graph) <br /> 40 <br /> 41 Proposed Ad Valorem Tax Rate Effective July 1, 2013 <br /> 42 • Proposed tax rate of 85.8 cents per $100 of assessed valuation <br /> 43 - This rate produces $137.8 million in property tax revenues for FY 2013-2014 <br /> 44 - Overall Real Property Valuation increased 2.7% <br /> 45 • One cent on property tax estimated to generate $1,606,869 <br /> 46 <br /> 47 Orange County Property Tax Revenues <br /> 48 Past 5 Fiscal Years (Bar Graph) <br /> 49 <br /> 50 Sales Tax Revenues <br />