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<br /> mostly attributed to a decrease in Intergovernmental revenue, and more specifically, the timing of the receipt of Child
<br /> Support Services and Department of Social Services Federal intergovernmental revenues.
<br /> Summary of Major General Fund Revenues
<br /> FY2015-16 FY2015-16 YTD% FY2014-15 FY2014-15 YTD%
<br /> Category Original Budget Revised Budget YID Actual Collected Category Original Budget Revised Budget YTD Actual Collected
<br /> Property Tax $ 147,551,332 $ 147,551,332 $120,454,187 81.6% Property Tax 145,714,650 $ 145,714,650 $117,523,829 80.7%
<br /> Local Option Sales Tax 20,652,132 20,652,132 4,321,358 20.9% Local Option Sales Tax 19,001,962 19,001,962 3,943,843 20.8%
<br /> Licenses and Permits 313,000 313,000 77,552 24.8% Licenses and Permits 313,000 313,000 83,166 26.6%
<br /> Charges for Services 10,766,030 10,807,314 4,602,324 42.6% Charges for Services 9,799,005 9,866,868 4,499,294 45.6%
<br /> Intergovernmental 15,000,278 18,524,600 7,602,005 41.0% Intergovernmental 13,575,486 16,354,491 7,967,007 48.7%
<br /> Transfers from Other Funds 1,052,600 1,052,600 - 0.0% Transfers from Other Funds 1,052,600 1,052,600 - 0.0%
<br /> Investment Earnings 52,500 52,500 5,656 10.8% Investment Earnings 105,000 105,000 3,726 3.5%
<br /> Miscellaneous 737,468 972,934 645,499 66.3% Miscellaneous 798,065 934,769 520,650 55.7%
<br /> Fund Balance Appropriation 10,650,770 10,826,066 - 0.0% Fund Balance Appropriation 10,068,343 10,150,647 - 0.0%
<br /> General Fund Revenues 206,776,110 210,752,478 137,708,580 65.3% General Fund Revenues 200,428,111 203,493,987 $134,541,516 66.1%
<br /> Property Tax Revenues
<br /> 2Q FY2015-16 Property Tax revenues total$120.4 million or 81.6% of budgeted revenues,which is above the 2Q
<br /> FY2014-15 total of$117.5 million or 80.7% of budgeted revenues,with actual collections in FY2015-16 more than
<br /> FY2014-2015 collections in the second quarter by$2.9 million. It is important to note that Property Tax revenues are due
<br /> September 1,with interest and penalties accruing January 2016. The billing versus collection rate is projected to be in the
<br /> high 90 percentile by January 31. The tax office annual billing versus collection rate is 99%. Property Tax budgeted
<br /> revenues accounts for 71% of the total General Fund revenue budget.
<br /> Local Option Sales Tax Revenues
<br /> 2Q FY2015-16 revenues total$4.3 million or 20.9% of budgeted revenues,which is $400,000 above the 2Q FY2014-15
<br /> Sales Tax revenues of$3.9 million or 20.8%. This reflects three months of actual collections due to the timing of receipts
<br /> from the North Carolina Department of Revenue. The local government sales tax distributions in any given month reflect
<br /> actual sales made up to three months prior. For example,August collections reflect July vendor sales,which are
<br /> processed and allocated in September,with a local government distribution made on or before October 20. The October
<br /> payment was the first month's sales tax distribution allocated to the July-June fiscal year. The December 2016
<br /> distribution, as historically is the case,includes a large number of calendar year end refunds,which results in significantly
<br /> lower net Sales Tax revenues.
<br /> The North Carolina Department of Revenue administers the following monthly disbursement of local option sales taxes
<br /> recorded in the County's General Fund:
<br /> • Article 39 (one-cent) -authorized in 1971, and is currently allocated on a point of delivery basis.
<br /> • Article 40 (half-cent) -authorized in 1983, and is currently allocated on a per capita basis.
<br /> • Article 42 (half-cent) -authorized in 1986, and is currently allocated on a point of delivery basis.
<br /> Orange County Goveirnment, I www.orangecountync.gov I 919.732.8181
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