2. GENERAL FUND Year-end Projections FY 16/17
Projected Revenues $4,418,970
Projected Expenditures $4,035,409
Excess of Revenues over Expenditures $383,561

3. EXCESS REVENUE OVER EXPENDITURES
Excess of Revenues over Expenditures $383,561
Projected Excess Permitting Fees-Transfer $166,153
Projected Excess Revenues-Fund Balance Reserve $217,408

4. CAPITAL ITEMS FUNDED FY 16/17
DEPARTMENT
ITEM
AMOUNT
PUBLIC WORKS
EXCAVATOR
$77,000
DUMP TRUCK
$65,000
EQUIPMENT TRAILER
$16,000
AERIAL BOOM
$15,000
POLICE DEPARTMENT
2 POLICE INTERCEPTORS
$72,000
FIRE DEPARTMENT
SLEEPING QUARTERS
$250,000
FIRE TRUCK
$425,000
ROLLER RACK UNIT
$8,394
Public Works/SC
PIPE CAMERA
$6,333
TOTAL
$ 934,727

5. NON-CAPITAL (Funded) FY 16/17
Surface Pro Tablets $5,421
HVAC-Old Town Hall $4,712
Fire Gear $22,835

6. STORMWATER ENTERPRISE FUND YEAR END PROJECTION FY 16/17
Projected Revenues $75,000 Projected Expenditures $75,000

7. SOLID WASTE ENTERPRISE FUND YEAR END PROJECTIONS FY 16/17
Projected Revenues $272,000 Projected Expenditures $272,000

8. Debt Service Item Principal Balance Interest Rate End Date
(Existing) Annual Debt Service
(Proposed) Annual Debt Service
Town Hall/Tanker
$797,552
2.69
03/21/28
$84,724
Public Safety Facility
$320,000
2.58
12/22/24
$49,288
Fire Truck
$425,000
2.08
11/01/26
$47,512
Equipment/Vehicles
$245,000
1.87
11/01/21
$51,783
Sleeping Quarters
$250,000
2.43
12/14/26
$31,075
Total Debt
$2,037,552
$264,382

9. Proposed Budget FY 17/18 (Highlights)

10. .01 = $44,325 (100% Collection) .01 = $43,057 (97.14% Collection)
TAX RATE
.01 = $44,325 (100% Collection)
.01 = $43,057 (97.14% Collection)
Current Tax Rate = 35 cents/$100
No change projected in proposed budget

11. General Fund Proposed Revenues 2017-18 ($3,716,503)

12. General Fund Proposed Expenditures 2017-18 ($3,716,503)

13. Merit/Cola Funded FY 17/18
Merit -1.5% $15,665
Cola -1.5% $21,898

14. CAPITAL ITEMS FUNDED IN FY 17/18 BUDGET PROPOSAL
DEPARTMENT
ITEM
AMOUNT
PUBLIC BUILDINGS
SERVICE TRUCK (1/4 COST)
$ 6,750
METAL BUILDING (1/4 COST)
$11,000
STREETS
SERVICE TRUCK
PARKS & RECREATION
PASSENGER VAN
$27,547
POLICE
POLICE VEHICLE
$36,000
SET ASIDE
UNDESIGNATED/CAPITAL RESERVE
$32,646
SIDEWALKS
CAPITAL RESERVE
$25,000
TOTAL CAPITAL OUTLAY
$156,693
ACKNOWLEDGED IN 5-YEAR CAPITAL IMPROVEMENT PLAN

15. ENTERPRISE FUNDS

16. Comments on Stormwater Enterprise Fund during deliberations
Consider a fee credit for homeowners (utilizing Swansboro’s Watershed Restoration Plan)
Provide option if lump sum paid up front
Consideration should be given for smaller businesses (reduced rate) compared to larger businesses/generators of impervious surface
Do not change fee, even reduce fee through
stormwater credit (homeowners)

17. Challenges to developing rates - Commercial
132 commercial parcels within Town limits contain impervious surface = $40,000 est. stormwater revenue
Decreases in fee for smaller businesses offset by larger businesses
Option .01/SF with minimum fee equal to highest residential tier – burden
carried by largest generators

18. FY Rate Tables

19. FY 17-18 Proposed Rate Tables
Residential Tier FY $1.25 increase
Tier SF
Monthly Rate
Annual I
<1,000 SF
$2.00
$24.00 II
1,001-1,794
$3.50
$42.00
III
1,795-2,669
$3.75
$45.00 IV
2,670-3,544
$4.00
$48.00 V
>3,545
$4.25
$51.00
Commercial Tier FY
Minimum Fee
>1,000 SF Impervious
Base Fee
<1,000 SF Impervious 0.01/SF
Based on Total Impervious Surface
Example 10,000 SF
$8.33
$100.00
(2) MONTHLY CREDITS MAY APPLY TO
BOTH RESIDENTIAL AND COMMERCIAL (LUMP SUM & BMP)

20. STORMWATER ENTERPRISE FUND FY 17/18
Proposed Revenues $104,291
Proposed Expenditures $104,291

21. SOLID WASTE ENTERPRISE FUND FY 17/18
Proposed Revenues $303,584
Proposed Expenditures $303,584
**PROPOSED RATE INCREASE
RATE
RESIDENTIAL /MONTH =$15.45/MONTH
COMMERCIAL /MONTH = $25.75/MONTH

22. ENTERPRISE FUNDS CAPITAL ITEMS FUNDED IN FY 17/18 BUDGET PROPOSAL
AMOUNT
SERVICE TRUCK (1/4 COST)
$ 6,750
METAL BUILDING(1/4 COST)
$11,000
METAL BUILDING (1/4 COST)
TOTAL
$35,500

23. ENTERPRISE FUNDS DEBT SERVICE FY 17/18
STORMWATER $8,224 *(1/4 COST)
SOLID WASTE $9, (1/4 COST)
* DOES NOT FUND LIFT

24. FEE SCHEDULE PROPOSED INCREASES SUMMARY FY 17/18
SOLID WASTE
STORMWATER
PARKS & RECREATION
MEETING ROOM RENTAL FEES
PARK FACILITIES FEES