FY23 FULL BUDGET REPORT ADOPTED

Service District Fund A service district must be authorized by state law. Properties within a service district receive additional services beyond the rest of the Town through an additional tax levy to raise funds to provide the designated service. The fund is consolidated with in the General Fund at reporting.

Municipal Service District Fund

Purpose 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. - 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

2022 Estimated Actual

2023 Projected Budget

2020 Actuals

2021 Actuals

Beginning Balance Interest Earnings

$ $ $ $ $ $

169,410

$ $ $ $ $ $

202,907

$ $ $ $ $ $

428,914

$ $ $ $ $ $

657,656

1,732

208

809

-

Transfer in fromGeneral Fund

110,000 95,014 173,249 202,907

110,000 118,008

110,000 118,155

110,000 120,000

Special MSD Tax Expenditures Ending Balance

2,209

222

-

428,914

657,656

887,656

20%

111%

53%

35%

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

$

33,497

$

226,007

$

228,742

$

230,000

83