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<br /> FY 2025 FY 2024 FYS 2025 vs 2024
<br /> GENERAL FUND Original Budget Revised Budget YTDActual* Percentage YTDActual* Percentage YTD %Variance'
<br /> Property Tax $201,999,345 $201,999,345 $158,516,212 78.47% $150,820,333 79.06% $7,695,879 -0.59%
<br /> Sales&Use Tax $44,139,012 $44,139,012 $7,939,368 17.99% $7,735,119 17.68% $204,249 0.31%
<br /> Licenses and Permits $274,200 $274,200 $55,757 20.33% $57,401 20.93% ($1,644) -0.60%
<br /> v Charges for Services $15,103,690 $15,106,609 $6,273,293 41.53% $5,778,082 40.67% $495,211 0.86%
<br /> vIntergovernmental $22,017,818 $22,499,290 $7,051,460 31.34% $6,860,373 33.37% $191,087 -2.03%
<br /> Investment Earnings $1,800,000 $1,800,000 $952,322 52.91% $482,386 30.15% $469,936 22.76%
<br /> °C Transfers In $1,006,039 $1,149,818 $0 0.00% $0 0.00% $0 0.00%
<br /> Miscellaneous $970,011 $1,007,747 $485,509 48.18% $640,483 73.85% ($154,974) -25.67%
<br /> Appropriated Fund Balance $7,100,000 $7,441,586 $0 0.00% $0 0.00% $0 0.00%
<br /> Total $294,410,115 $295,417,607 $181,273,921 61.36% $172,374,177 61.46% $8,899,744 -0.10%
<br /> Community Services $16,096,949 $16,432,210 $7,469,719 44.59% $6,692,372 42.60% $777,347 1.99%
<br /> General Government $12,699,830 $12,806,847 $6,429,647 48.88% $5,569,454 45.59% $860,193 3.29%
<br /> v Public Safety $40,930,579 $40,971,477 $18,501,731 44.81% $17,263,449 47.72% $1,238,282 -2.91%
<br /> Human Services $53,023,027 $53,455,448 $22,291,819 43.80% $21,201,741 42.99% $1,090,078 0.81%
<br /> Education $113,115,311 $113,115,311 $71,851,233 63.51% $57,167,579 52.95% $14,683,654 10.56%
<br /> o. Support Services $18,787,800 $18,872,800 $10,470,141 59.32% $9,451,473 50.59% $1,018,668 8.73%
<br /> W Debt Service $0 $0 $0 0.00% $0 0.00% $0 0.00%°Transfers Out $39,756,619 $39,763,514 $0 0.00% $0 0.00% $0 0.00%
<br /> Total $294,410,115 $295,417,607 $137,014,290 46.85% 1$117,346,068 41.67% $19,668,222
<br /> General Fund Revenues
<br /> General Fund revenues for this fiscal year are on target at 61.4% matching last year's budget versus actual
<br /> percentage as well. Given the new Administration's review of Federal grant revenues, this category is being
<br /> monitored and coordinated with departments to ensure reimbursable expenses are timely drawn down within the
<br /> fiscal year.
<br /> • Property Tax collections are 78.4% of the total Property Tax budget compared to 79.06%the prior fiscal year.
<br /> Real and personal property tax collections will peak by January 5 when penalties and interest begin to accrue on
<br /> late payments. The property tax revenue growth reflects a tax rate increase of 2.81 cents to 86.34 cents per$100 of
<br /> assessed value. This tax increase is dedicated to continuation expenses of both school districts. The other
<br /> component of the property tax revenue growth is attributed to natural growth from new construction and
<br /> improvements. The collection rate assumption of 99.2%for real property is expected to be achieved.
<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 /> • The Sales Tax category is comprised of Article 39 (1% point of sale), Article 40 (.5%State-wide per capita) , Article
<br /> 42 (.5% point of sale) and Hold Harmless. Article 40 to date has been flat. Article 40 is designed to ensure equitable
<br /> distribution to counties regardless of their commercial activity levels. Hurricane Helene has been a factor in Article
<br /> 40 showing no growth to date. Articles 39 and 42 which are point of sale has increased at 2.6%from the prior. The
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