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4 <br /> • Sales Tax has a three-month revenue lag from the NC Department of Revenue (NCDOR) with the first <br /> month of July to be received in October. Note: The County received NCDOR notification of our July Sales <br /> Tax which is 8.2% above the July 2019 sales tax and the August Sales Tax is 4.4% above the August 2019 <br /> sales tax. The NCACC Research Center attributes the July and August 2020 sales tax performance to the <br /> following factors: <br /> - Online Sales Tax collections resulting from NCDOR enforcement of online retailers as consumers <br /> increased their Internet purchases. <br /> - Federal Stimulus spending from CARES Payroll Protection Program <br /> - Gradual Easing of Business restrictions <br /> Below is a three-year historical sales tax revenues and the FY 2020-21 budgeted reduction in sales tax in <br /> response to the recession. The FY 2020-21 sales tax budget is -9% below the prior fiscal year after <br /> factoring in the easing of public health business closures. <br /> FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 Budget <br /> $25,678,025.00 $27,844,578.66 $28,126,261.22 $ 25,595,372.00 <br /> Percent Change 8.4% 1.0% -9.0% <br /> • Charges for services are 17.4% of the budget as compared to 20.8% lower the prior fiscal year. The <br /> decline is attributed to COVID-19 public health measures for inmate inhabitants at the County Detention <br /> Center which reduced population and commensurate cost recovery from the Federal Government. <br /> Aging, Animal Services and DEAPR, Planning and Inspection fees are slightly lower as well due to COVID- <br /> 19 related preventive measures. <br /> • Miscellaneous revenue variance of 6.8% of budgeted revenues as compared to 9.1%the prior fiscal year <br /> is due to the reclassification of$252, 411 in Aging Grants from the General Fund to the Grant Fund. The <br /> timing of Asset Management lease rental revenues for County facilities and lower investment earnings <br /> attributed to interest rate declines. <br /> General Fund expenditures are 27.4% of budgeted expenditures as compared to 25% the prior fiscal year. The <br /> variance is due to an increase in debt service payments as the County funds the County and Schools bonds. <br /> 3 <br />