1987 - 06-26-87 Adjour. Reg. Meeting

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y y ✓ County of Lee, N Caro lina h June 26, 1987 Page 3 300< 12 ;v, 224 Intangibles Tax 422,659 Revenue Sharing 115,000 Library Revenues 68,450 DSS Revenues 1,569,200 Recreation Revenues 181,434 Department for Aging Revenues 361,946 Other Revenues 1,215,337 Fund Balance 592,527 TOTAL REVENUES 16,198,541 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 tax designated for School Capital outlay is ordered used to retire existing School Debt Service. SECTION 4. The following amounts are hereby appropriated in the Debt Service 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, 1987 and ending June 30, 1988: Principal 915,000 Interest 1,149,458 Charges 3,500 TOTAL 2,067,958 SECTION 5. It is estimated that the following revenues will be available to the Debt Service Fund for the Fiscal Year beginning July 1, 1987 and ending June 30, 1988: General Fund Contribution 1,069,914 Interest Income 200,000 Transfer from Special Revenue- Schools (Sales Tax) - 798,044 TOTAL 2,067,958 SECTION 6. The following amounts are hereby appropriated in the Revenue Sharing Trust Fund for the Fiscal Year beginning July 1, 1987 and ending on June 30, 1986: Transfer to G.F. for Debt Service 115,000 SECTION 7. It is estimated that the following revenues will be available to the Revenue Sharing Trust Fund for the Fiscal Year beginning July 1, 1987 and ending on June 30, 1988: