2018-2019 Adopted Budget

MUNICIPAL SERVICE DISTRICTS FUND

PROGRAMS

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Actual

Historic Tax Districts

In 1989, the College Hill and Dunleath (formerly Aycock) Historic Districts became special taxation districts under North Carolina Municipal Service District legislation. Property owners in the Dunleath Historic District are assessed five cents per $100 in assessed valuation. Property owners in College Hill are assessed one cent per $100 in assessed valuation. The property tax funds from these districts go to fund projects that enhance the special character of these neighborhoods.

Appropriation

29,629

535,000

135,000

135,000

Full Time Equivalent Positions

0

0

0

0

Business Improvement District (Downtown)

In FY 04-05, a Business Improvement District, or BID, was established for the downtown area. An additional tax of nine cents per $100 of property value was levied on properties within the district. BID funds revitalize the district through various economic development initiatives. Funds received through this levy are maintained in a separate reserve account, and are available exclusively for downtown district purposes as approved by business owners and residents. Following a property revaluation that took affect in FY 12-13, the tax rate was reduced to eight cents per $100 of property value, which is the current rate.

Appropriation

742,253

1,039,000

927,570

855,000

Full Time Equivalent Positions

0

0

0

0

BUDGET SUMMARY

2016-17

2017-18 Budget

2018-19 Adopted

2019-20 Projected

Actual

Expenditures:

Personnel Costs

0

0

0

0

Maintenance & Operations

771,882

1,574,000

1,062,570

990,000

Capital Outlay

0

0

0

0

Total

771,882

1,574,000

1,062,570

990,000

Total FTE Positions

0.000

0.000

0.000

0.000

Revenues:

Special District Property Tax

690,416

679,600

734,600

734,600

Fund Balance

372,127

754,400

167,970

95,400

All Other

172,268

140,000

160,000

160,000 990,000

Subtotal

1,234,811

1,574,000

1,062,570

General Fund Contribution

0

0

0

0

Total

1,234,811

1,574,000

1,062,570

990,000

BUDGET HIGHLIGHTS  The FY 18-19 Budget for the Municipal Service District Fund is decreasing by $511,430, or 32.5%, due to the use of previously accumulated fund balance in the FY 17-18 budget.  The Historic Tax District funds are typically used for projects such as maintenance and repair of signs, fences, trash receptacles, landscaping and streetscape enhancements.

Adopted FY 2018-19 Budget

86