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25 <br /> 1 • Remaining 20% of revenues consists primarily of Intergovernmental and Charges for <br /> 2 Services <br /> 3 <br /> 4 General Fund Revenues Budget versus Actual Comparative Analysis (chart) <br /> 5 <br /> 6 • FY 2015-16 General Fund revenues are in line with historical performance; first quarter <br /> 7 normally low due to timing of Property Tax revenues <br /> 8 • 1Q FY2015-16 revenues collected are $24.5 million or 11.8% of Budgeted Revenues <br /> 9 compared to 12.2% in the prior year <br /> 10 • Property Tax revenues collected are $18.7 million or 12.7% of Budgeted Revenues <br /> 11 compared to 12.9% in the prior year; Property Tax revenues due September 1; By <br /> 12 December collection rate will be high 90 percentile <br /> 13 • Sales Tax revenues has shown no remittance activity; the NC Department of Revenue <br /> 14 (NCDOR) collects and remits to the local governments by second quarter; our second <br /> 15 quarter report will reflect NCDOR distributions <br /> 16 • Charges for Services revenues collected are $2.3 million or 21.5% of Budgeted <br /> 17 Revenues compared to 21.7% in the prior year <br /> 18 • Intergovernmental revenues collected are $3.3 million or 21.8% of Budgeted Revenues <br /> 19 compared to 25.2% in the prior year <br /> 20 <br /> 21 General Fund Expenditure Overview <br /> 22 • Expenditures are indicated by the Functional Leadership Teams <br /> 23 • National Recognition for Strong Fiscal Management of Departmental Budgets (AAA <br /> 24 rating reports) <br /> 25 • 1Q Spending is consistent with historical levels <br /> 26 • Debt Service payments are budgeted in Non-Departmental <br /> 27 <br /> 28 General Fund Expenditures Budget versus Actual Comparative Analysis (chart) <br /> 29 • FY 2015-16 General Fund expenditures in line with historical performance <br /> 30 • 1Q FY2015-16 expenditures are $50.6 million or 24.4% of Budgeted Expenditures <br /> 31 compared with 25.5% in the prior year <br /> 32 • Community Service includes Animal Services, NC Cooperative Extension, Economic <br /> 33 Development, and Planning and Inspections; spending rate of 22.4% of Budgeted <br /> 34 Expenditures is consistent with historical rate <br /> 35 • General Government includes Board of Elections, Clerk to the Board, County Attorney, <br /> 36 County Manager, Register of Deeds, and Tax Administration; spending rate of 21.4% of <br /> 37 Budgeted Expenditures is consistent with historical rate <br /> 38 • Education expenditures in line with prior year and represents Current Expenditures, Fair <br /> 39 Funding, and Recurring Capital; School Debt Service of$16 million is budgeted in Non- <br /> 40 Departmental <br /> 41 • Support Services includes Asset Management, Community Relations, Finance, HR, and <br /> 42 IT; spending rate of 33.7% reflects payments for workers compensation, <br /> 43 bonds/insurance, and IT contracts; consistent spending rate with prior year <br /> 44 <br /> 45 Gary Donaldson said the County has a strong balance sheet and cash flow over the first <br /> 46 quarter. <br /> 47 Commissioner Jacobs asked if there is any art to when lottery funds are requested. <br /> 48 Gary Donaldson said he plans to meet with state officials about this. <br /> 49 Paul Laughton, Orange County Finance and Administrative Services, said the amount <br /> 50 within the lottery fund is shared with each school system monthly, and when the schools are <br />