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Adopted FY 2017-18 Budget
BUDGET HIGHLIGHTS
The FY 17-18 Budget for the Municipal Service District Fund is increasing by $435,750, or 38.3%.
An increase of $135,750 between the two Historic Tax Districts, College Hill and Aycock, represent
plans to proceed with a variety of neighborhood improvement projects.
The Historic Tax District funds are typically used for projects such as maintenance and repair of signs,
fences, trash receptacles, landscaping and streetscape enhancements.
The Budget also includes a $300,000, or 41%, increase in the Business Improvement District (BID).
The BID District budget includes $259,000 in appropriated fund balance accumulated during previous
years.
PROGRAMS
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Appropriation
106,529
399,250
535,000
135,000
Full Time Equivalent Positions
0
0
0
0
Appropriation
890,973
739,000
1,039,000
780,000
Full Time Equivalent Positions
0
0
0
0
BUDGET SUMMARY
2015-16
2016-17
2017-18
2018-19
Actual
Budget
Adopted
Projected
Expenditures:
Personnel Costs
0
0
0
0
Maintenance & Operations
997,502
1,138,250
1,574,000
915,000
Capital Outlay
0
0
0
0
Total
997,502
1,138,250
1,574,000
915,000
Total FTE Positions
0.000
0.000
0.000
0.000
Revenues:
Special District Property Tax
646,206
649,600
679,600
679,600
Fund Balance
268,400
359,650
754,400
95,400
All Other
173,527
129,000
140,000
140,000
Subtotal
1,088,133
1,138,250
1,574,000
915,000
General Fund Contribution
0
0
0
0
Total
1,088,133
1,138,250
1,574,000
915,000
MUNICIPAL SERVICE DISTRICTS FUND
Historic Tax Districts
Business Improvement District (Downtown)
In 1989, the College Hill and Charles B. Aycock Historic Districts became special taxation districts under North Carolina Municipal
Service District legislation with each district paying 5 cents per $100 in assessed valuation. Property owners in Charles B. Aycock
Historic District still pay 5 cents per $100 in assessed valuation. Property owners in College Hill pay 1 cent per $100 in assessed
valuation after the rate was reduced from 5 cents to 1 cent in FY 11-12. The property tax funds from these districts go to fund projects
that enhance the special character of these neighborhoods. Projects are identified and prioritized by the district property owners. In
the College Hill Historic District, Municipal Service District funds have been used most recently to improve landscaping, replace trash
receptacles and conduct a tree inventory and management plan. In the Charles B. Aycock Historic District, Municipal Service District
funds have most recently been used to install sign-toppers, conduct planning projects, and install trash receptacles in the neighborhood.
Beginning in FY 04-05, an additional tax of 9 cents per $100 of property value was levied on the downtown district as a Business
Improvement District for enhanced services and programming. These services are aimed at efforts to revitalize the district through
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 8 cents per $100 of property value, and it is projected to remain at 8 cents following the
2017 revaluation.