HomeMy WebLinkAboutC.054.93010_1143 (2)$761,904 from contingencY.for the schools, and budget an interfind loan from the solid waste
disposal enterprise fiend of $1, 351, 215.
October 15, 2002: The commissioners adopted a resolution to ley, it third '/: cent sales tnx
beginning December 1, 2002. Commissioner Williams made a motion to adopt the resolution
and Commissioner Bowles amended the motion to say that the sales tax would replace the
amount budgeted as a loan from Solid Waste and for the difference to be appropriated to the
schools.
The General Fund budget was then amended as follows.
Revenue
Add: Article 44 Sales Tax $2,474,780
Deduct: Tnterfund Loan f•mn Solid Waste 13( 51 2151
Net Increase in Revenue 56�
w
-Expenditures
Add: Current expense appropriation - Wljo
The additional $123,565 has not been paid to the school systems.
May 30, 2003: Beer and Wine revenues of $343,104 were received. The money was withheld
from the counties during the prior fiscal year, and it was not budgeted for FY 2003-03.
Receipts from the Article 44 Sales Tax are estimated to be 1,249.500 or $225,280 less dant was
anticipated when the budget was amended in October.
The correct amount of appropriation to increase current expense to the .schools, based on the
understanding of the motion made on October 15. 2002 is:
Article 44 Sales Tax 2,149,500
Beer & Wine Taxes 343,104
Total available 2,592,604
Less: Loan from Solid Waste ('1351 215)
Current Expense Appropriation 241,389
Iredell-Statesville 197,190
Mooresville Graded 44.099
24L 3$2
OTIO by Commissioner Tice to approve Budget Amendment #45A to
recognize the receipt of beer and wine sales taxes and to decrease the expected revenue
from the %: cent sales tax. (The amendment will appropriate $197,290 to the Iredell-
Statesville School System and $44,099 to the Mooresville System.)
VOTING: Ayes — 4; Nays — 0.
Dr. Holliday asked if the 1% of the 5% in capital outlay would be a recurring
amount. He said that if the school system could depend on this amount it would help in
capital planning. Holliday said the bids for the Certificates of Participation issuance
($24 million) were over budget. He said that if there were assurances the 1% continued
in the future, the system could make sure the new school in the southern zone could
accommodate 800 instead of 600 students.
Commissioner Williams and Johnson both expressed concerns about making the
commitment. Williams said it was uncertain as to whether or not the Public School
Building Capital Fund money would ever be seen again.
Dr. Holliday said an excellent compromise might be to direct that the beer and
wine tax money be used for capital projects. He mentioned the system was having to
cut $1.2 million out of the State budget.