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a' <br /> ORANGE COUNTY", NORTH CAROLINA <br /> E XCCUTI VE_,SU14MARY <br /> I NTRODPCTi ON <br /> The purpose of this 'summary is to provide a comprehensive and simplified overview of Orange <br /> County's budget and to highlight important factors that affect the budget process. <br /> Summaries of projected revenues and recommended appropriations follow this introduction. It <br /> t is expected that General Fund Revenue growth will amount to 3.11 percent. This year compares with <br /> past year growth of 6.74% in 1981-82, 14.85% in 7980-$1* and 6.99% in 1979-80. <br /> The lower growth rate in the tax base is believed to be due to a general slump in the economy. � <br /> Locally we know that building permits are down 30 percent .from 1981 and 44 percent from 1980. Also, <br /> lesser amounts of inventory are being maintained in area businesses. Sales, of goods and services, <br /> which shows up in sales tax revenue and personal property tax revenue, might be affected by many <br /> wage earners experiencing layoffs and fluctuating work weeks (alternati-ng between 4 and 5 days among f <br /> County manufacturers) and by Orange County farmers who see milk prices droppinq and.tobacco price ' <br /> supports in an uncertain condition after this year. <br /> Faced with these conditions and notin�l various indicators of economic pressure on the citizenry, <br /> the Board slave early instruction that effort should be made to pare expenditures so as to maintain <br /> the existing tax rate for another year. What follows complies with the instruction. It proposes an <br /> appropriation level that seeks the best utilization of existing funds to maintain current service , <br /> levels and reach work program objectives without a tax increase. The public's assessment together with <br /> input from departments, agencies and public during May and June will enable-the Board of Commissioners <br /> to .judge the impact of the various expenditure recommendations- and to make- the adjustments it sees fit <br /> before adopting a final budget for the coming year. <br /> i <br /> * The 1980-81 growth rate included an 11% tax increase - from $.90 to $.995 per $100 valuation. <br /> -1- <br />