FY2020 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

New Initiatives & Priorities

Cost Value

None

$0.00

Municipal Service District

2017 Actuals

2018 Actual

2019 Estimated 2020 Proposed

Ad Valorem Service District Taxes

$ $ $ $ $

94,200

$ $ $ $ $

95,993

$ $ $ $ $

98,800

$ $ $ $ $

100,700

Investment Earnings

630

3,477

-

-

Transfer In from General Fund Appropriation of Fund Balance

-

110,000

110,000 264,200 473,000

110,000

327,182 422,012

-

-

Total Revenues

209,470

210,700

Year Over Year % Change Total Year Over Year $s Change Total

25.3%

-50.4%

125.8%

$

85,343

$

(212,542)

$

263,530

2017 Actuals

2018 Actual

2019 Estimated 2020 Proposed

Operations

$ $

327,182 327,182

$ $

193 193

$ $

473,000 473,000

$ $

210,700 210,700

Total Expenditures

Year Over Year % Change Total Year Over Year $s Change Total

157199.0%

-99.9% 244977.7%

$

326,974

$

(326,989)

$

472,807

Ending Fund Balance

$

215,286

$

424,564

$

424,564

$

424,564

Note: FY20 Proposed budget is balanced between revenues and expenditures as required by the Local Government Budget and Fiscal Control Act and therefore the ending fund balance does not reflect growth. However, there are no planned expenses for FY20 that will allocate the realized revenue collected within that fiscal year to improve fund balance at year end.

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