Agenda - 06-08-1982 - Laserfiche WebLink

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ORANGE COUNTY , NORTH CAROLINA THE GENERAL FUND The general fund is the general operating fund of the County and is used to account for all financial resources except those required to be'-accounted for in another fund. Revenues As in former years, the major revenue source will be ad valorem taxes on personal and real property. After consideration of non-tax sources the portion to be funded from current year taxes is $9,838,920. This is up from the $9,420,324 in current year revenue of 1981-82. The tax rate necessary to produce the amount for 1982-83 is 54.4¢ per $108 in valuation. The revenue growth in the General Fund is used to decrease the fund balance appropriation necessary to balance the budget this year over last, retain the necessary operating capital , and meet expenditure increases. Fund Balance This year's recommended appropriation of fund balance needed to "balance" the general fund budget is $300,000, which is considerably less than the current years appropriation of $773,280. The significance of this decrease is that it reduces the dependency on prior year, non-recurrent funds and allows the County to maintain the working capital needed for those months at the beginning of the fiscal year where expenditures exceed revenues. Appropriations The recommended general fund appropriation is only $25,435 more than the 1981-82 budget or a .15% increase. In the recommended budget, County operating departments decreased 1.5%; school operating funds, which makes up 37% of the general Band, increased 1.8%, and agency support decreased 2.6%.