FY2018 Recommended Budget

MUNICIPAL SERVICE DISTRICT FUND

Municipal Service District

MISSION

The mission of the Municipal Service District Fund was authorized by the General Assembly in North Carolina G.S. 160A-536(a)(6), Session Law 2011-072 for the purpose of converting private residential streets to public streets for specific neighborhoods.

SERVICE TO COMMUNITY

The tax levied on those Municipal Service District properties will pay for the conversion cost of those private streets to public standards and streets will be publicly maintained.

BUDGET NOTES

Cost Value

New Initiatives & Priorities

None

$0.00

2015

2016

2017

2018

Revenues

Actuals

Actuals

Estimated

Proposed

Ad Valorem Service District Taxes $ 94,065 $ 93,948 $ 94,200 $ 96,000

Investment Earnings

$ 114 $ 621 $ 630 $ -

Transfer in from General Fund*

$ 110,000 $ 242,100 $ -

$ -

Appropriation of Fund Balance

$ 122,736 $ -

$ 327,182 $ 110,000

Total Revenues

$ 326,915 $ 336,669 $ 422,012 $ 206,000

EXPENDITURES

Capital Outlay

$ 303,288 $ 208 $ 327,182 $ 206,000

Total Expenditures

$ 303,288 $ 208 $ 327,182 $ 206,000

Revenues over Expenditures

$ 23,627 $ 336,461

$ 94,830 $ -

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