1974 - 07-01-74 Regular Meeting - Laserfiche WebLink

Home Browse Search

Section 16 Code 681-9 BOOK r fi 3 That for the said fiscal year there is hereby appropriation out of the School Capital Outlay Reserve Fund the following: Purpose Addition to Building Reserve TOTAL APPROPRIATIONS - SCHOOL CAPITAL OUTLAY RESERVE FUND Appropriation $ 537 660 $ 537 660 Section 17: It is estimated that the following School Capital Outlay Reserve Fund revenues will be abailable during the fiscal year beginning July 1, 1974 and ending June 30;, 1975 to meet the foregoing School Capital Outlay Reserve Fund appropriations: Code Revenue source Amount 51A-345-00 Local Option Sales Tax $ 50;000 51A-365-00 Revenue Sharing 74 681 51A-366-74 Ad Valorem Taxes 412 979 TOTAL REVENUES-SCHOOL CAPITAL OUTLAY RESERVE FUND $ 537 660 Section 18: Code 60 That for said fiscal year there is hereby appropriated out of the Central Carolina Technical Institute Fund:.the following: Purpose Current Expense Appropriation $ 117 915 TOTAL APPROPRIATIONS - CENTRAL CAROLINA TECHNICAL INSTITUTE FUND L_117 915 Section-19: It is estimated that the following Central Carolina Technical Institute Fund Revenues will be available during the fiscal year beginning July 1, 1974 and ending June 30, 1975 to meet the foregoing Central Carolina Technical Institute Fund appropriations: Code Revenue source Amount Taxes - Ad Valorem 53-301-74 Budget year (F/Y 1974-75) $ 106 920 53-301-00 Prior years 1 895 53-329-00 Interest on Investments 600 53-339-00 Intangible Property Tax 3 500 Total $ 112 915 Fund balance appropriated Surplus 5 000 TOTAL REVENUES - CENTRAL CAROLINA TECHNICAL INSTITUTE FUND $ 117 915 Section 20: There is hereby levied for the fiscal year ending June 30, 1974 the following rate of taxes on each one hundred dollars ($100) assessed valuation of taxable property as listed as of January 1, 1974 for the purpose of raising revenues from current year's property tax as set forth in the foregoing estimates of revenue and in order to finance foregoing appropriations for the general expenses incident to the proper government of Lee County, North Carolina, and for the payment of maturing principal and interest on outstanding bonded debt of Lee County, North Carolina: General Fund $0.2260 Debt Service Fund 0.0575 Social Services Fund 0.1090 Recreation Fund 0.0910 School Current Expense Fund 0.2075 School Capital Outlay Fund 0.0245 School Capital Outlay Reserve Fund 0.1545 Central Carolina Technical Institute Fund 0.0400 TAX RATE PER ONE HUNDRED DOLLARS ($100) ASSESSED VALUATION .9100 Such rates are based on an estimated total appraised value of property for the purpose of taxation of $297,000,000 with an assessment ratio of 100% of appraised value, and an estimated collection rate of 90%.