1997 - 06-16-97 Regular Meeting - Laserfiche WebLink

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Q?8 Budget Ordinance, Fiscal Year 1997-98 County of Lee, North Carolina June 16, 1997 Page 4 WK 16 P"'qr l % SECTION 2. It is estimated that the following revenues will be available for use by the County of Lee to fund the operations appropriated - Section 1 during the Fiscal Year beginning July 1, 1997 and ending on June 30, 1998: Current Year Tax Levy 16,104,000 Prior Years Taxes 371,000 Local Option Sales Tax 4,274,000 In Lieu of Taxes 977,999 Special School Sales Tax 1,173,000 Intangibles Tax 628,000 Library Revenues 109,888 DSS Revenues 3,548,984 Recreation Revenues 299,225 Department for the Aging Revenues 649,956 Health Dept. Revenues 1,014,697 Youth & Adult Services Revenues 469,497 Other Revenues 3,560,765 Fund Balance 2,601,379 TOTAL REVENUES 35,782,390 SECTION 3. All funds received which are committed to be spent by law or contract are ordered spent for those purposes. Additional funds appropriated for those purposes are ordered to come from General County Revenues to the extent necessary. The one-half cent sales taxes designated for School Capital Outlay are ordered to be used to retire existing School Debt Service. In Lieu of Taxes will be used to fund the Reserve for Wihik Project. SECTION 4. The following amounts are hereby appropriated in the General Fund for the payment of principal and interest on the outstanding debt of the county and expenses relating thereto for the Fiscal Year beginning July 1, 1997 and ending on June 30, 1998: Principal 2,919,764 Interest 2,130,113 Charges 3,000 TOTAL 5,052, 877 SECTION 5. It is estimated that the following revenues for the Debt Service will be available to the General Fund for the Fiscal Year beginning July 1, 1997 and ending on June 30, 1998: General Fund Contribution 2,390,697 Transfer from Special Revenue- Schools (Sales Tax) 1,173,000