2019 Popular Annual Financial Report volume 1 | Page 12

R evenues
and
E xpenditures
FY 18-19 B udget B reakdown
R evenues
E xpenditures
Sales/ Investments
(2.1%)
Permits services
Other (1.2%)
and fees (2.1%)
(7.0%)
Debt service
(10.6%)
Cultural/
recreational
(15.7%)
Intergovernmental
revenues
(10.0%)
Public safety
(36.4%)
Environmental
protection incl.
solid waste
collection
Property
(5.8%)
taxes
(57.0%)
Transportation incl.
street maintenance
(10.1%)
Other taxes
and licenses
(20.6%)
T
OTAL GENERAL FUND revenues for FY
18-19 were $34.26 million. The property
tax rate remained at $.5325 per $100 of
assessed value.
General
government
(21.4%)
statewide sales taxes and ABC revenue, account
for 20.6 percent of all revenues. Collections
during this fiscal year increased 10.6 percent
over the prior period. This category of revenues
was boosted through continued improvement in
the local economy and an increase to the car tag
fee charge.
Property taxes account for 57.0 percent of all
revenues. Property taxes (excluding registered
motor vehicles, which are collected by the N.C.
Division of Motor Vehicles) are assessed and The Town also received 7.0 percent of its
collected by Wake County and remitted to the revenues from permits and fees, an increase of
Town throughout the year.
8.6 percent over FY 17-18. The primary reason
for the increase was in building permit fees for
Other taxes, which include the Town’s share of new construction. The 102.7 percent increase in
G eneral F und R evenues
FY 16-17 FY 17-18 FY 18-19
$17,834,515 $18,336,285 $19,520,910
Other taxes and licenses 6,236,202 6,376,074 7,048,593
Intergovernmental revenues 3,262,406 3,316,833 3,443,787
Permits and fees 2,690,728 2,217,839 2,409,113
Sales and services 546,432 672,139 725,216
Investment earnings 151,936 360,123 711,823
Other revenues 370,697 197,818 401,000
$31,092,916 $31,477,111 $34,260,442
Property taxes
TOTAL
12
2019 P opular A nnual F inancial R eport