Agenda - 11-06-2014-13 (5) - Laserfiche WebLink

Browse Search

ORANGE COUNTY NORTH OLWA FINANCE AND ADMINISTRATIVE SERVICES 200 South Cameron Street Clarence G. Grier, CPA, CITP, CGMA Phone (919) 245 -2553 Post Office Box 8181 Assistant County Manager — CFO Fax (919) 644 -3324 Hillsborough, North Carolina 27278 Summary Information for Maior Funds as of June 30, 2014 The Major Fund of the County accounted for approximately 86 percent of the total annual revenues of the County. An overview of financial status for each of the major funds is included in the financial statement and as follows: General Fund • Total revenues (revenues and transfers) for the General Fund are $194.6 million for an increase of $7.7 million or 4.1% over the same period in fiscal year 2012 -13. This revenue increase is mainly due to the timing, billing and collection of Registered Motor Vehicles Ad Valorem Taxes. Total revenues collected are 86% of the amended budget for the current fiscal year. • Total expenditures (expenditures and transfers) for the General Fund are $188.5 million for an increase of $14.1 million or 7.7% over the same period in the previous year. General Fund Expenditures increased due increased expenditures for Education and Debt Service. Total expenditures are 72% of the budget for the fiscal year. • Revenues and net transfers are more than expenditures by $7.6 million representing a net increase of $.75 million or 11% over the same period in the previous fiscal year. Capital Funds • The County Capital Funds revenues and other financing sources total $16 million compared to expenditures of approximately $10.4 million. The main revenue and financing source are the funds received for the installment financing proceeds received in July 2013 and January 2014 of this fiscal year. The majority of the current fiscal year expenditures related to construction cost incurred for the Buckhorn Mebane Economic Development District and communication system improvements for Emergency Services as part of the strategic plan. • The School Capital Funds revenues and other financing sources total $10.2 million compared to expenditures total $10.5 million. The majority of the current fiscal year expenditures related to construction cost incurred for Northside Elementary (CHCCS) and technology for both school districts. Solid Waste Fund • Total revenues and transfers for the Solid Waste Fund decreased $2.6 million over the same period in the previous fiscal year to $7.6 million. Revenues and other financing sources and uses lower due to the closure of the landfill as of June 30, 2013. Total revenues collected are 48% of the amended budget for the fiscal year. • Total expenses for the Solid Waste Fund decreased 12% over the same period in the previous fiscal year to $8.5 million. Total expenditures are 42% of the budget for the fiscal year. • Revenues and transfers are greater than expenses by $897,031 compared to greater than expenses by $3.3 million over the same period in the previous fiscal year due to the closure of the Landfill. Sportsplex Fund • Total revenues for the Sportsplex Fund are approximately the same for the period in the previous year. Total revenues are 64% of the amended budget for the fiscal year. • Total expenditures for the Sportsplex Fund increased 7% over the same period in the previous fiscal year to $3.3 million. Total expenses are 32% of the budget for the fiscal year. • Revenues and net transfers are greater than expenses by $803,156, which is nominally the same as the previous fiscal year. 1