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10
<br /> General Fund Revenues Budget versus Actual
<br /> Comparative Analysis
<br /> FY2016-17 FY2016-17 YTD% FY2015-16 FY2015-16 YTD%
<br /> Category Original Budget Revised Budget YTD Actual Collected Category Original Budget Revised Budget YTD Actual Collected
<br /> Property Tax $ 149,498,811 $ 149,498,811 $118,412,891 79.2% Property Tax 147,551,332 $ 147,551,332 $121,175,552 82.1%
<br /> Local Option Sales Tax 22,066,641 22,066,641 4,581,981 20.8% Local Option Sales Tax 20,652,132 20,652,132 4,321,358 20.9%
<br /> Licenses and Permits 328,000 328,000 77,742 23.7% Licenses and Permits 313,000 313,000 77,552 24.8%
<br /> Charges for Services 11,681,503 11,891,529 4,424,226 37.2% Charges for Services 10,766,030 10,807,314 4,607,067 42.6%
<br /> Intergovernmental 15,787,579 18,669,438 6,917,852 37.1% Intergovernmental 15,000,278 18,524,600 7,604,906 41.1%
<br /> Transfers from Other Funds 2,712,600 2,712,600 0 0.0% Transfers from Other Funds 1,052,600 1,052,600 - 0.0%
<br /> Investment Earnings 155,000 155,000 29,718 19.2% Investment Earnings 52,500 52,500 26,494 50.5%
<br /> Miscellaneous 886,734 1,032,923 359,277 34.8% Miscellaneous 737,468 940,734 711,802 75.7%
<br /> Fund Balance Appropriabo 12,726,944 13,887,964 0 0.0% Fund Balance Appropriabo 10,650,770 10,826,066 - 0.0%
<br /> General Fund Revenues 215,843,812 220,242,906 134,803,687 61.2% General Fund Revenues 206,776,111 1 210,720,278 1 138,524,730 65.7%
<br /> • FY 2016-17 General Fund revenues are on target with the adopted budget; through the second quarter $134.8
<br /> million or 61.2% of budgeted revenues has been collected as compared to $138.5 million or 65.7% in the prior
<br /> year
<br /> • Property Tax revenues totals $118.4 million or 79.2% of Budgeted Revenues compared to $121.1 million or
<br /> 82.1% in the prior year; this represents a timing variance which is expected to be corrected by the third quarter
<br /> reporting
<br /> • Sales Tax revenues reflects three months of activity; the NC Department of Revenue (NCDOR) remittances
<br /> to local jurisdictions has normally lagged up to three months throughout the State; attributed to the time to
<br /> process and remit distributions to local governments
<br /> • Charges for Services revenues collected are $4.4 million or 37.2% of Budgeted Revenues compared to $4.6
<br /> million or 42.6% in the prior year; variance due to processing of EMS backlog billings
<br /> • Intergovernmental revenues which includes grant remittances are $6.9 million or 37.1% of Budgeted Revenues
<br /> compared to $7.6 million or 41.1% in the prior year; due to the timing of draw down of Lottery revenue
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