FY 2017-18 FINAL ADOPTED BUDGET

MUNICIPAL SERVICE DISTRICTS FUND

PROGRAMS

2015-16

2016-17 Budget

2017-18 Adopted

2018-19 Projected

Actual

Historic Tax Districts

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.

Appropriation

106,529

399,250

535,000

135,000

Full Time Equivalent Positions

0

0

0

0

Business Improvement District (Downtown)

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.

Appropriation

890,973

739,000

1,039,000

780,000

Full Time Equivalent Positions

0

0

0

0

BUDGET SUMMARY

2015-16

2016-17 Budget

2017-18 Adopted

2018-19 Projected

Actual

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

140,000 915,000

Subtotal

1,088,133

1,138,250

1,574,000

General Fund Contribution

0

0

0

0

Total

1,088,133

1,138,250

1,574,000

915,000

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.

Adopted FY 2017-18 Budget

86