FY2021 Budget

SECTION 5. OTHER POST EMPLOYMENT BENEFITS (OPEB) FUND

ANTICIPATED REVENUES

Transfer from General Fund

372,800

Interest

40,200

Total Anticipated Revenues

$413,000

AUTHORIZED EXPENDITURES

Net Assets in Trust

358,100

OPEB Benefits Paid

54,900

Total Expenditures

$413,000

SECTION 6. LAW ENFORCEMENT SEPARATION ALLOWANCE FUND

ANTICIPATED REVENUES

Transfer from General Fund

83,600

Interest

5,000

Total Anticipated Revenues

$88,600

AUTHORIZED EXPENDITURES

Net Assets in Trust

-

Law Enforcement Benefits Paid

88,600

Total Expenditures

$88,600

SECTION 7. LEVY OF TAXES AND FEES GENERAL FUND

A. Under authority of GS 160A-209 there is hereby levied for Fiscal Year 2021 an Ad Valorem Tax Rate of $0.36 per one hundred dollars ($100.00) valuation of taxable property as listed for taxes as of January 01, 2020, for the purpose of raising the revenue from current taxes as set forth in the foregoing estimates of revenues, and in order to finance the foregoing applicable appropriations. The rate of tax is based on an estimated assessed valuation of $6,200,175,000. B. Under the authority of GS 20-97, there is hereby levied an annual License Tax of thirty dollars ($30.00) on each vehicle with the Town of Morrisville. C. Under authority of GS 160A-314, Session Law 2005-441 and Session Law 2011-109 the Town of Morrisville levies a Stormwater Equivalent Residential Unit (ERU) Fee at $25.00 per Equivalent Residential Unit and hereby authorizes Wake County Revenue Department & Durham County Revenue Department to collect the ERU Fee as prescribed by the Fiscal Year 2021 Fee Schedule on behalf of the Town of Morrisville as a contracted billing service. The fee shall appear on the Annual Tax Bills. The ERU Fee is considered a restricted revenue source for the purpose of stormwater activities as prescribed by mandates. The Finance Department is hereby authorized to collect the ERU Fee from all qualifying

56