FY23 FULL BUDGET REPORT ADOPTED

Other Major Revenues

Other major revenue sources for the Town include the Utility Franchise Tax, the Wake County Fire Tax and Video Programming Fees:

o Utility Sales Tax is projected to generate $1,740,200, which is 2% growth over estimated FY 2022 revenues and is 4% of total General Fund Revenues. Utility Sales assumptions are relatively static with a minor growth factor. Underlying factors such as weather, energy prices, population expansion and technology changes primarily contribute to shifts in utility consumption. o Wake County Fire Tax projected revenues of $800,000 represents the Town of Morrisville’s cost share allocation fromWake County for fire protection and mutual aid. This allocation remains static this year. Staff pro-actively engages in updates with Wake County to negotiate basis of annual cost share. o Video Programming revenues of $625,000 reflects a 1% increase over estimated FY 2022 projections and are approximately 1.4% of total revenues. This resource is expected to continue a slow decline as the change in the consume r market from cable TV to streaming services. Morrisville’s overall growth at times can counteract the overall realized distribution annually. Development Services Permits and Fees (Planning, Engineering and Building Inspections) remain strong, and have been increased 6% over FY 2022 budget estimates based on assumptions resulting from strong permitting activity in commercial development and influences from remaining residential opportunities. Looking forward, Staff remains watchful of slowing trends for residential development long-term. . Budget projection strategies are intentionally more conservative than other revenues to safeguard against the unpredictability of construction activity. Parks and Recreation Programs and Facility Revenues continued to be impacted by pandemic side- effects andmarket conditions. Revenues continue to be projected conservatively for FY 2023, as creative efforts work to recover historically robust youth programs and to maximize on new opportunities with a renovated MAFC facility. Other state distributed resources (Powell Bill, Beer & Wine, Rental Vehicle and Solid Waste Disposal) have been positively adjusted for Census related impacts. In addition, in late 2021 the state’s approved budget escalated the amount of state funds to the Powell Bill program recognizing growing transportation needs at the local levels. Sources indicate that level of funding should be sustained through FY2023 although the General Assembly has the option of adjusting in its summer session.

User Fees

The Town assesses a variety of User Fees for town services including administrative fees, inspection permits, police alarm fees, fire department services, and permit fees. During the FY 2023 budget

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