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• Strong revenue base with minimal Elastic revenues <br /> • Property tax revenues is largest revenue source accounting for 71% of Budgeted <br /> General Fund revenues; generally Inelastic source of income <br /> • Sales tax revenues (Elastic) is next largest accounting for 9.6% of Budgeted General <br /> Fund revenues <br /> • Remaining 20% of revenues consists primarily of Intergovernmental and Charges for <br /> Services <br /> General Fund Revenues Budget versus Actual Comparative Analysis (chart) <br /> • FY 2015-16 General Fund revenues are in line with historical performance; first quarter <br /> normally low due to timing of Property Tax revenues <br /> • 1C) FY2015-16 revenues collected are $24.5 million or 11.8% of Budgeted Revenues <br /> compared to 12.2% in the prior year <br /> • Property Tax revenues collected are $18.7 million or 12.7% of Budgeted Revenues <br /> compared to 12.9% in the prior year; Property Tax revenues due September 1; By <br /> December collection rate will be high 90 percentile <br /> • Sales Tax revenues has shown no remittance activity; the NC Department of Revenue <br /> (NCDOR) collects and remits to the local governments by second quarter; our second <br /> quarter report will reflect NCDOR distributions <br /> • Charges for Services revenues collected are $2.3 million or 21.5% of Budgeted <br /> Revenues compared to 21.7% in the prior year <br /> • Intergovernmental revenues collected are $3.3 million or 21.8% of Budgeted Revenues <br /> compared to 25.2% in the prior year <br /> General Fund Expenditure Overview <br /> • Expenditures are indicated by the Functional Leadership Teams <br /> • National Recognition for Strong Fiscal Management of Departmental Budgets (AAA <br /> rating reports) <br /> • 1C) Spending is consistent with historical levels <br /> • Debt Service payments are budgeted in Non-Departmental <br /> General Fund Expenditures Budget versus Actual Comparative Analysis (chart) <br /> • FY 2015-16 General Fund expenditures in line with historical performance <br /> • 1C) FY2015-16 expenditures are $50.6 million or 24.4% of Budgeted Expenditures <br /> compared with 25.5% in the prior year <br /> • Community Service includes Animal Services, NC Cooperative Extension, Economic <br /> Development, and Planning and Inspections; spending rate of 22.4% of Budgeted <br /> Expenditures is consistent with historical rate <br /> • General Government includes Board of Elections, Clerk to the Board, County Attorney, <br /> County Manager, Register of Deeds, and Tax Administration; spending rate of 21.4% of <br /> Budgeted Expenditures is consistent with historical rate <br /> • Education expenditures in line with prior year and represents Current Expenditures, Fair <br /> Funding, and Recurring Capital; School Debt Service of$16 million is budgeted in Non- <br /> Departmental <br /> • Support Services includes Asset Management, Community Relations, Finance, HR, and <br /> IT; spending rate of 33.7% reflects payments for workers compensation, <br /> bonds/insurance, and IT contracts; consistent spending rate with prior year <br />