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Town of Franklin Council Agenda April 15, 2019 5:30 pam. Call to Order- Mayor Scott Projected Revenue for Fiscal Year 2019-2020 Debt Service for Fiscal Year 2019-2020 Discussion on Proposed Budget for Fiscal Year 2019-2020 Adjourn "TOWN OF FRANALIN, NORTH CAROLINA Budget forthe Year Ending June 30, 2020 Revenues: General Fund Fre Dept Fund W&Senterprise Fund TOA Fund Total {Ad Valorem Taxes $1963.00700 § $ 5 § 1963,027.00 (ther Taxes $7eo.90000 $ 645,007.00 $ § 13500000. § 1,740007.00 UnrestictedIntergovernmental $ 480.0000 § s $ $450,000.00 Restricted htergovernmental $ 13000000. $ $ 5 $130,000.00 Lceneses and Pers 5 6500.00 § 5 5 5650000 Sales and Services 5 8 $ 352155700. $ § 3352155700 (Other Revenues $ 48950000 5 613200 § 65,0000 § $260,682.00 “otal Antipated Revenue: $399,027.00 § #51,13000 § 3586557.00 § 135,000.00 § 871,723.00 Fund Balance Appropriate $ $ $ s $ 7 Fund Balance Approprited-Fowellail —§——50,00000.§ 8 s $ 450000000 Retained Earings Appropiated s s s $ = “Total Budget: $ 3919.027.00 § 851,13800 § 43586557.00 $ 135,000.00 $ 521,723.00 ‘Appropriations: General Government Public Safety Transportation ‘cutura/Receation Planning/Economic Development Public Works Debt Service Contribution to Fund Balance Contingency Tourism Development “otal Apprpriations: $ 8 8 = g TOWN OF FRANKLIN, NORTH CAROLINA |General Fund Detail Budget of Revenues lSource: |Ad Valorem Taxes: SCHEDULE 1 PAGE 1 FY 2019-2020 FY 2018-2019 Current Year $ 1,927,527.00 $ 2,028,976.00 hst Prior Year $ 25,000.00 $ 25,000.00 [2nd Prior Year $ 3,000.00 $ 3,000.00 3rd Prior Year $ 500.00 $ 500.00 lath & Earlier Prior Year $ 1,000.00 $1,000.00 Penalties & Interest $6,000.00 $6,000.00 {Total Anticipated Revenue $ 1,963,027.00 $ 2,064,476.00 lother Taxes: Motor Vehicle Tax $100,000.00 $ 100,000.00 Vehicle Rental Tax $20,000.00 $20,000.00 Local Option Sales Tax $640,000.00 $ 640,000.00 {Total Anticipated Revenue $ 760,000.00 $ 760,000.00 Unrestricted Intergovernmental Revenues: Franchise Tax $ 450,000.00 $ 440,000.00 Total Anticipated Revenue $ 450,000.00 $440,000.00 Restricted Intergovernmental Revenue: Powell aill $ 125,000.00 $ 125,000.00 JABC Law Enforcement Funds $ 5,000.00 $5,000.00 Total Anticipated Revenue $130,000.00 $ _ 130,000.00