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2 <br /> General Fund <br /> General Fund revenues are 84.8%of budgeted revenues are the same percentage rate the prior fiscal year.There remains no <br /> indicative risk pertaining to the Intergovernmental revenue through March 31, 2026. Property taxes and interest income have <br /> been strong and provides an offset to sales tax.Sales Tax Medicaid Hold Harmless is expected to meet the budget unlike Article <br /> 39,40 and 42 due to higher than anticipated sales tax refunds from the North Carolina Department of Revenue. <br /> • Property Tax collections include Real, Personal and Motor Vehicles. Real and personal taxes collections peaked at the <br /> end of December prior to the January assessment of penalties and interest and has met the budgeted revenues. <br /> Property tax revenues have met the budget projections for the fiscal year.The Tax Administration Office billing and <br /> collection rate will meet the 99.2%budgeted amount. Real and Personal tax revenues are$210.9 million.The remaining <br /> property taxes represent the last three months of motor vehicle tax revenues to meet the overall property tax budgeted <br /> amount of$212.8 million.The State remits motor vehicle tax revenues to the county monthly. <br /> • Sales tax revenues are 60.39%of the budget compared to 64.24%the prior fiscal year.The Hold Harmless sales tax <br /> revenues was budgeted conservatively at$4.8 million in FY 2025-26 due to increased State Medicaid expenditures.The <br /> County is projecting to meet the Hold Harmless budgeted amount.Articles 39,40 and 42 through seven months of <br /> collections is averaging 5%despite a significant non-profit refund. <br /> Note:Sales Tax has a three-month revenue lag from the NC Department of Revenue(NCDOR).The last month of sales <br /> tax for FY 2025-26 will be received by September 15, 2026. <br /> Seven Months of Collections <br /> FY 2025-26 FY 2024-25 $Change %Change Collections Basis <br /> Article 39 $ 10,095,654 $ 9,584,430 $511,224 5.33% Point of Sale <br /> Article 40 $ 7,393,266 $ 7,075,995 $317,271 4.48% State Per Capita <br /> Article 42 $ 5,061,998 $ 4,807,625 $254,373 5.29% Point of Sale <br /> Average 5.04% <br /> • Intergovernmental revenues are 51.6%of budgeted revenues as compared to 53.7%in the prior fiscal year.The <br /> percentage received to date has historically trailed the budget through the third quarter as noted in the table below: <br /> Table 1: Federal and State Grants Trend <br /> Fiscal Year Intergovernmental Revenue <br /> Third Quarter <br /> 2025-26 51.6% <br /> 2024-25 53.7% <br /> 2023-24 55.5% <br /> 2022-23 50.3% <br /> 2021-22 53.2% <br /> 2020-21 59.7% <br /> 2019-20 50.6% <br /> The intergovernmental revenue trend above is attributed to the historical timing lag for Department of Social Services claim <br />