Browse
Search
Agenda - 01-04-1982
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
1980's
>
1982
>
Agenda - 01-04-1982
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/11/2017 10:51:07 AM
Creation date
6/19/2015 9:36:21 AM
Metadata
Fields
Template:
BOCC
Date
1/4/1982
Meeting Type
Regular Meeting
Document Type
Agenda
Document Relationships
Minutes - 19820104
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\1980's\1982
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
56
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
MEMO <br /> TO: Beard Members DATE: December 31, 1981 <br /> FROM: County Manager <br /> SUBJECT: Communications Update <br /> 1. Financial Condition <br /> As reported earlier, I have been analyzing the County's revenue <br /> and expenditure situation with the assistance of the Finance Depart- <br /> ment. This has included review of the 1980-81 audit, current year <br /> tax collections as of the end of each month and projecting cash <br /> flow for the next twelve months to determine requirements. In the <br /> case of the audit and first and second quarter inflow/outflow of <br /> cash we are dealing with hard data. Forecasting, on the other <br /> hand, must involve assumptions and therefore is subject to error. <br /> It is essential to make the best estimates possible and adjust, to <br /> forecasting errors as time elapses. Enough information has been <br /> drawn to update you. other updates will follow as factors are <br /> monitored. <br /> The following are observations at this point: <br /> 1f Unemployment are affecting collections. End of November <br /> figures .lagged 4% behind last year. <br /> COUNTY LEVY <br /> NOVEMBER, YEAR-TO-DATE % COLLECTED <br /> 1980-81 $7,166,345.88 secured 28.56 2,046,963.74 <br /> $1,828,656.17 unsecured 16.69 30.5,374.63 <br /> 1981-82 $8,689,958.48 secured 24,35 2,116,046.87 <br /> $1,131,220.65 unsecured 15.49 175,257.99 <br /> It is hoped that this is a temporary phenomenon. However, <br /> were this to become a pattern through the end of January <br /> the County might not realize the 97% collection assumed <br /> during the budget process. <br /> Interest rates remaining high may be a factor. The penalty <br /> for non-payment of taxes falls below what one could derive <br /> by having the money invested, this reduces the incentive to <br /> pay prior to legal action being mounted which is a full year <br /> from the due date on secured property. <br /> The legislature has under consideration a bill to raise the <br /> penalty. This would help along with earlier mailing of bills <br /> and possibly a prepayment discount for bills paid by the end <br /> of August. <br />
The URL can be used to link to this page
Your browser does not support the video tag.