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<br /> FY 2024 FY 2023 FYs 2024 vs 2023
<br /> GENERAL FUND Original Revised YTDActual* Percentage YTDActual* Percents YTD %
<br /> Property Tax $190,759,520 $190,759,520 $30,402,822 15.94% $30,729,654 16.51% -$326,832 -0.57%i
<br /> Sales&Use Tax $43,739,131 $43,739,131 $0 0.00% $0 0.00% $0 0.00%
<br /> Licenses and Permits $274,200 $274,200 $555 0.20% $630 0.20% -$75 0.00%
<br /> Charges for Services $14,208,193 $14,208,193 $2,757,304 19.41% $3,833,911 26.95% -$1,076,607 -7.54%2
<br /> Intergovernmental $19,686,908 $20,348,851 $2,155,730 10.59% $1,850,302 9.38% $305,428 1.21%
<br /> Investment Earnings $1,600,000 $1,600,000 $0 0.00% $217,921 2115.00% -$217,921 -2115.00%3
<br /> Transfers In $1,391,290 $1,433,628 $0 0.00% $0 0.00% $0 0.00%
<br /> Miscellaneous $846,286 $867,327 $148,611 17.13% $256,449 6.42% -$107,838 10.71%4
<br /> Appropriated Fund Balance $7,000,000 $7,000,000 $0 0.00% $0 0.00% $0 0.00%
<br /> Total $279,505,528 $280,230,850 $35,465pO22 12.66% $36,888,867 15.36% -$1,423,845 -2.71%
<br /> Community Services $15,241,917 $15,539,297 $3,434,382 22.10% $3,728,276 23.92% -$293,894 -1.82%
<br /> General Government $11,987,685 $11,996,855 $2,765,875 23.06% $3,327,472 24.23% -$561,597 -1.17%
<br /> g Public Safety $35,882,898 $35,921,198 $8,707,579 24.24% $7,792,998 23.47% $914,581 0.77%
<br /> Human Services $48,541,143 $48,936,802 $11,852,421 24.22% $9,755,855 21.47% $2,096,566 2.75%
<br /> o Education $107,805,947 $107,805,947 $25,979,480 24.10% $23,864,435 24.24% $2,115,045 -0.14%
<br /> W Support Services $18,492,107 $18,476,920 $6,775,899 36.67% $4,512,249 45.29% $2,263,650 -8.62%s
<br /> Debt Service $0 $0 $0 0.00% $20,515,028 53.88% -$20,515,028 -53.88%6
<br /> Transfers Out $41,553,831 $41,553,831 $0 0.00% $0 0.00% $0 0.00%7
<br /> Total $279,505,528 $280,230,850 $59,515,636 21.24% $73,496,313 30.61% -$13,980,677 -9.37%
<br /> Notes:
<br /> *-Actual amounts include Encumbrances.
<br /> +-Based on percentage.
<br /> 1-Property taxes includes Real,Personal and monthly Motor Vehicle taxes.
<br /> 2-Planning Inpspection Fees are now accounted for in a separate fund to enhance reporting pursuant to NC Statute 160D-1102.
<br /> 3-This is a timing variance in the interest allocation postings.
<br /> 4-Miscellaneous includes Hold Harmless Sales Tax,Lease Rentals,Donations and interest earnings.
<br /> 5-Reflects Insurance payments now accounted for in Human Resources.
<br /> 6-Debt Service is mow accounted for in a separate fund.
<br /> 7-Transfers Out are to the new Debt Service Fund;Transfers will start in 2nd Quarter.
<br /> General Fund Revenues
<br /> General Fund revenues are 12.2% of budgeted revenues compared to 15.3%the prior fiscal year. This represents a
<br /> timing variance due to property tax collections. During the first quarter of each fiscal year, revenues will trail
<br /> expenditures and fund balance provides an interim funding source until property tax revenues begins to peak in
<br /> December-January each fiscal year.
<br /> • Property Tax collections are 15.9% of the total Property tax budget compared to 16.5%the prior fiscal year. Real
<br /> and personal taxes are due September 1 with peak tax collections occurring in December prior to the assessment of
<br /> penalties and interest.The property tax category includes real, personal, and motor vehicle taxes.
<br /> • Motor vehicle taxes are payable on the vehicle renewal date and the tax is based on market value of the vehicle.
<br /> The North Carolina Department of Revenue remits this tax to the County monthly. Registered Motor Vehicle Taxes
<br /> become delinquent after 30 days.
<br /> • Sales Tax has a three-month revenue lag from the NC Department of Revenue (NCDOR) with the first month of July
<br /> collections to be received by local governments by October 15. The flowchart on page 3 illustrates this three-month
<br /> lag.
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