In the world of municipal finances, revenue sources are limited.
There are property and sales taxes and user fees for services, such as water, sewer and electric.
Conversely, expenses come from a seemingly endless list of sources.
While it is a municipality, the Town of Tarboro is also a business. Its day-to-day operations fall on the shoulders of a group of managers who report to town Manager Alan Thornton.
All, ultimately, are responsible to the eight-member town council.
The bottom line is for the town to live within its means but because of prior management practices that is becoming increasingly difficult.
In order to get a quick snapshot, Finance Director Karla McCall presented council members with a series of pie and bar graphs when they met for a planning retreat Saturday at The Fountains at the Albemarle.
The general fund is measured primarily by fund balance while the water and sewer fund, electric fund and solid waste fund are known as enterprise funds, which generate income from fees and operate in a manner similar to a private business. Net assets and operating income, as well as a fund balance, measure the enterprise funds.
Tarboro’s general fund fund balance has increased 90.8 percent from June 30, 2011 to June 30, 2012. This increase reversed a trend of decreases — 45 percent in fiscal year (FY) 2008-2009, 21.6 percent in FY 2009-2010 and 5.0 percent in FY 2010-2011 — that saw the general fund balance drop from $2,364,785 to $967,564.
“The policy of the town has been to pay as you go,” Town Manager Alan Thornton told the gathering. “We don’t really have any capital resources left to do that anymore … we will look a other funding options.”
While the fund balance at the end of FY 2011-2012 showed improvement, it fell short of the recommend levels, which recommend a balance equivalent of three-to-six months of operating expenses.
Total general fund revenues increased 4.9 percent in FY 2011-2012 and 7.6 percent in FY 2010-2011, but a nickel property tax increased generated approximately 46 percent of the total fund balance increase.
Property tax revenues in FY 2011-2012 increased $404,440 from the previous year based largely on an increase in the property tax rate from 36 cents per $100 valuation to 41 cents per $100 valuation.
An increase in sales tax revenue generated an additional $233,751 although revenues through the first seven months of FY 2012-2013 are flat.
In FY 2011-2012, largely because of the property tax increase, revenues exceeded expenses by nearly $1 million — $9,938,914 versus $8,992,454.
Property tax revenues accounted for 39 percent of the town’s income, followed by sales taxes (18 percent) and charges for services (15 percent). Five other revenue sources generated between 2 and 7 percent of the town’s total.
The great majority of the town’s expenses — 71.8 percent — fell into one of two departments, either public safety (42.9 percent) or public works (28.9 percent). Parks and recreation accounted for 11.1 percent, followed by administration, finance and planning/economic development.
When looking at the Water and Sewer enterprise funds, one finds that operating revenues decreased .7 percent and operating expenses increased by 3.8 percent in FY 2011-2012.
The revenue reduction was attributed to a variety of factors, including the use of low-flow toilets and aerators and a continued effort to educate consumers on conservation. Another factor was the weather, which was such that water use for lawns was down.
Revenues were also down in the Electric Fund, where usage was down in 11 of 12 months and electric sales declined for the firs time in five years.
“We had a mild winter and that made a difference,” explained council member Rick Page. Additionally, it was pointed out that while summer was hot, the spring and fall were both mild and allowed persons to not use air conditioning.
Utilities Director Buddy Harrison added another impacting factor — conservation.
“We’re partially to cause for it because we do energy audits and we tell people to conserve whenever they can,” he said with a smile on his face. “Plus, we’ve had a couple of big plants convert to LED lighting, so that makes a big difference, especially when you’re talking about thousands (of dollars) monthly.”
The Solid Waste Fund saw an increase in revenues of 3.5 percent and an increase in expenses of 9.1 percent from 2010-2011 to 2011-2012. A rate increase in FY 2011-2012 from $19.25 to $20.25 per month generated $33,865, but an increase in fees at the county landfill drove the rise in expenses.
Thornton told both staff and council that the overall financial picture for the town is good.
(COMING THURSDAY: The cost of protecting the Tar River.)
In the world of municipal finances, revenue sources are limited.
Here is your chance to celebrate your graduate’s Special Day by announcing their graduation in our Congratulation Page.
Hats Off To Our Graduates!
The announcements will appear in The Daily Southerner on June 7, 2013.
Deadline for placing announcements will be Tuesday, June 4th by 5:00pm.
All ads must be pre-paid. Information can be dropped off at our office 504 W. Wilson Street, Tarboro or call 823-3106.
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- Local News
Dr. Deborah Lamm, president of Edgecombe Community College, received the national ACT Career Preparedness Award on behalf of the college Tuesday. Shown from left to right are Dr. Jon Whitmore, ACT CEO; Scott Montgomery, ACT vice president; Sid Baker, education program specialist, NC Office of the State Superintendent; Dr. Lamm; and Virginia Edwards; editor-in-chief, Education Week.
Edgecombe Community College receives national award
Edgecombe Community College (ECC) received a national award Tuesday night for its efforts to prepare students to be successful in careers and the workplace.
Edgecombe was among four honorees that received national awards in Washington, D.C., during a gala that concluded ACT’s inaugural College and Career Readiness Campaign.
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14-Under softball tryout
The Tarboro Parks and Recreation Department and Edgecombe County Girls Softball League will be having tryouts for 14-under girls fast-pitch softball Wednesday, May 29 from 7 - 8:30 p.m. at Farmington Park in Rocky Mount. The is located at 319 Wellington Dr. There will also be a tryout Thursday, May 30 at Indian Lake Sports Complex on field 1 in Tarboro from 6 - 7:30 p.m. There is a $10 fee for Tarboro residents and a $35 fee for non-residents. For more information call the sports complex at 641-4202, Kathy Webb 252-813-4697 or Jamie Lindsey 252-883-0883 or firstname.lastname@example.org.
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My 13 years have been lucky
It was 13 years Sunday that a drought was broken in Big Spring, Texas, After that, we ate Mexican for dinner with a gathering of family and friends.
The next day, a Saturday, Stephanie and I joined one another in marriage under a beautiful little gazebo by Comanche Trail Lake, fed by the historic spring from which the community draws its name.
- My 13 years have been lucky
Brittney Joyce Corbett and Kenneth Robert Chasse, Jr. were united in marriage on April 6th, 2013, at 5:30pm at the Imperial Centre in Rocky Mount. The Rev. Carrol Bradbury officiated the ceremony.
The Rehearsal Dinner was hosted by Shirley and Donald Foreman, Grandparents of the Groom and also Elisha and Kenneth Chasse, Parents of the Groom, at Pizza Inn in Rocky Mount.
The Bride is the daughter of Mr. and Mrs. William Durwood Corbett of Macclesfield, NC. The Groom is the son of Mr. and Mrs. Kenneth Robert Leonel Chasse, Sr. of Pinetops, NC.
- Corbett/Chasse Wedding
- Obituaries Archives
CURTIS LEE DAVIS
PRINCEVILLE — Curtis Lee Davis, 60, died Sunday, May 19, 2013. Funeral services will be held at 2 p.m. Saturday, May 25, 2013 at the St. Luke Missionary Baptist Church (2225 N.C. Hwy 97 East) with burial in the Morning Family Cemetery.
Arrangements under direction of Dickens Funeral Service.
- IRENE EVANS
- SHIRLEY A. GOLDSTON
- JOHNNY LEE LAWRENCE
- CECILIA AMANDA PUDDY
- CURTIS LEE DAVIS
My husband and I love to entertain. We also love fondue. I have 4 or 5 fondue pots. I use them regularly. Some of them I have had for a long time.
Fondue began as a way to use up old, hardened cheese. The original fondue was cheese with wine. You then dipped hardened pieces of bread into the mixture. In America, the 1950's was the height of the fondue craze. However, it appears to be making a comeback.
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Edgecombe Events May 24
Edgecombe Events should be submitted by noon the day before publication. Items eligible include notices of local meetings and activities of non-profit organizations, clubs, schools and civic groups in the community. Information should be brief and typewritten, neatly printed or via e-mail. Questions? 823-3106 or e-mail: email@example.com. Leave a daytime contact phone number.
- Edgecombe Events May 24
- Our Community
Edgecombe Garden Club honors members
The Edgecombe Garden Club met May 1 for their noon luncheon at the Fountains of the Albemarle. After President Pauline Nicolosi greeted everyone, Sandra Joyner, Devotion Chairman, read “Torch” which was about our tongues torching good or evil.
Hostess Barbara Getzug described her specially designed flower arrangement of mock orange, snowball, purple columbine, and many varieties of roses. President Pauline, Hostesses Gloria Wall and Louise Fleming did the table arrangements. They contained wiegelia, azalea, ivy, mock orange, and ligustrum.
- DAR AWARDS
- Edgecombe Garden Club honors members