2018 Popular Annual Financial Report For the fiscal year ending June 30, 2018 | Page 12

R evenues
and
E xpenditures
FY 17-18 B udget B reakdown
R evenues
E xpenditures
Sales/ Investments
Permits services (1.14%)
and fees (2.14%) Other (.62%)
(7.05%)
Debt service
(11.93%)
General
government
(22.14%)
Cultural/
recreational
(9.34%)
Intergovernmental
revenues
(10.54%)
Property
taxes
(58.25%)
Environmental
protection
(6.03%)
Other taxes
and licenses
(20.26%)
Transportation
(9.23%)
T
OTAL GENERAL FUND REVENUES for FY
17-18 were $31.48 million. The property
tax rate remained at $.5325 per $100 of as-
sessed value.
Property taxes account for 58.25 percent of all
revenues. Property taxes (excluding registered
motor vehicles, which are collected by the N.C.
Division of Motor Vehicles) are assessed and
collected by Wake County and remitted to the
Town throughout the year.
Other taxes, which include the Town’s share of
Public safety
(41.33%)
statewide sales taxes and ABC revenue, account
for 20.26 percent of all revenues. Collections
during this fiscal year increased 2.2 percent over
the prior period. This category of revenues was
boosted through continued improvement in the
local economy and changes to the services to
which sales tax are applicable.
The Town also received 7 percent of its revenues
from permits and fees, a decrease of 17.6 percent
over FY 16-17. The primary reason for the de-
crease was the discontinuation of water and sewer
capacity fees that had been charged previously.
G eneral F und R evenues
FY 15-16 FY 16-17 FY 17-18
$17,061,096 $17,834,515 $18,336,285
Other taxes and licenses 5,826,797 6,236,202 6,376,074
Intergovernmental revenues 3,185,644 3,262,406 3,318,833
Permits and fees 2,981,635 2,690,728 2,217,839
510,108 546,432 672,139
76,234 151,936 360,123
234,534 370,697 195,818
$29,876,048 $31,092,916 $31,477,111
Property taxes
Sales and services
Investment earnings
Other revenues
TOTAL
11
2018 POPULAR ANNUAL FINANCIAL REPORT