Stokesdale
Town Hall
8325 Angel Pardue Road
P. O. Box 465
Stokesdale, NC 27357
Office Hours:
Tuesday - Friday
8:30 am - 2:30 pm
PARK HOURS:
Open Daily
7:00 am - 6:00 pm
Phone:
336-643-4011
Fax:
336-643-4016
Carolyn L. Joyner
Town Clerk/Finance Officer
Stokesdale,
North Carolina
Budget Officer's Fiscal Year 2011-2012
Budget Message
The Honorable Randle L. Jones, Mayor
Stokesdale Town Council Members
P. O. Box 465
Stokesdale, North Carolina 27357
Mayor and Council Members:
The proposed budget has been prepared by the Budget Committee for the Town of Stokesdale in accordance with the North Carolina Local Budget and Fiscal Control Act. The Town continues to maintain a strong financial position with reserves significantly above those that are required by state statue. The proposed budget for the fiscal year 2011-2012 is presented for your review and consideration.
The budget proposal does not recommend an ad valorem tax for its citizens. The Town will continue to provide additional law enforcement, streetlights for the downtown area, and a water system that provides potable drinking water and water for a fire protection system. In addition to these provisions, the Town has opened a new Park and has relocated to a new Town Hall facility.
In December, 2010 the Town Hall offices were relocated to a new Town Hall located at 8325 Angel Pardue Road. A Grand Opening was held on April 16, 2011 for the new facility. The building project is nearing its completion with a small punch list of items remaining. The Town Hall Capital Project Fund should be closed out at the end of the FY 10-11 or early in the 2011-12 Fiscal Year.
The Town has also opened the Stokesdale Town Park at Martin’s Meadow. A Grand Opening was held at the Park on May 7, 2011. The Town Park Capital Project Fund remains open as well with the final closeout pending. The project will be closed out in 2011-12 due to some items, such as sprigging of some areas with Bermuda Grass that could not be done until mid-summer.
GENERAL FUND: The proposed budget for the 2011-2012 Fiscal Year reflects a 2% decrease over the current fiscal year budget for the General Fund.
REVENUES: General Fund Revenues for Fiscal Year (FY) 2011-2012 are estimated at $312,600. The largest source of income, the Utilities Franchise Tax is estimated at $226,000 and provides 72% of estimated revenues. Investment earnings are estimated at $35,000 which is 11% of the total revenues. Some of the Town’s Certificates of Deposit have been invested at rates between 3.5 to 4% interest for three to four year terms will mature in the 2011-2012 Fiscal Year. Interest rates remain at very low rates of yield thus causing a continuing decline in this source of revenue.
Planning Fee Revenues are low are expected to remain low ($4,000) until the construction industry begins to show some improvement. The anticipated revenues from the Cable Franchise Agreement with Time Warner Cable are estimated at $6,500. Revenues from Parade Fees are estimated at $800 and the Hold Harmless payment is also estimated to be $1,000.
The Beer and Wine Excise Tax Distribution is expected to decline slightly in 2011-12. . This should provide $16,500 in revenues, about 5% of the revenue stream. ABC Profit Share of $5,200 reflects a decline from the previous year.
A new source of potential revenue for the Town, the rental of park facilities and Town Hall has been estimated at $2,000 for the year.
Since the anticipated Revenues are less than anticipated Expenditures, $ 15,600 has been allocated as Undesignated Fund Balance.
EXPENDITURES: General Fund Expenditures for the FY 2011-2012 are estimated to be $312,600.00.
Administrative Services: Administrative expenditures are estimated to be $119,050 or about 38% of the proposed budget. These appropriations include expenditures such as insurance ($7,800), postage ($2,000), professional services ($24,000), salaries and stipends ($53,800), phone service and utilities ($10,500), property maintenance ($4,500), and general office expenses ($7,550). Membership dues ($5,300) include the School of Government, Council of Governments, American Society of Composers and the NC League of Municipalities. Town elections will be held in November 2011 at an estimated cost of $3,600.
Cultural and Recreational: Cultural and Recreational Expenditures total $53,400 for 2011-2012. These expenditures include the parade expenses ($2,600) and lighting of the Veterans Monument ($800). Expenditures totaling $50,000 has been allocated expenses relating to the new Park such as lawn, field, and building maintenance.
Public Safety: Public Safety expenditures total $103,300 for the next fiscal year. This includes funding to maintain the Emergency Generator ($3,000), Fire Inspections ($5,000), and Law Enforcement Augmentation at a cost of $80,500. The Reserve Fund for the purchase of the next patrol car shows $6,500. The Town will pay Guilford County $8,300 for Animal Control services in FY 2011-2012.
Economic & Physical Development: Economic & Physical Development expenses total $33,750 and includes expenditures relating to the Planning and Zoning Department for advertising of rezoning cases ($2,000), legal fees and administration ($6,750) and fees to be paid to Guilford County for planning services ($25,000).
Transportation: Funds in the amount of $3,100 have been allocated to continue providing streetlights in the business district.
WATER ENTERPRISE FUND: The proposed budget for the water enterprise fund totals $210,200.00.
REVENUES: Water Sales ($188,000) make up 89% of the revenue stream for the Water Enterprise Fund. The remaining revenues are comprised of Tap & Connection Fees ($9,000), and Investment Income ($1,200). Estimated Late Fee Revenues total $12,000.
Winston Salem City/County Utilities has increased the water rates it charges the Town every year that the Town water system has been in operation. For the first time since the water system was put into use in 2003, the Budget Committee recommends an increase in water rates for Stokesdale citizens. A rate increase of $.10 per 1,000 gallons of water is recommended. The average family uses about 5,000 gallons of water per month which would mean an increase of $.50 per month in their monthly bill. The rate would go into effect on July 1, 2011.
EXPENDITURES: The purchase of water from City/County Utilities ($135,000) would account for 64% of the expenditures for the water system. Other Expenditures include Administrative Expenses ($43,700) including the costs of Insurance, Contract Operation of the water system, offices expenses and professional services. Maintenance of the water system is estimated at $31,500 for the upcoming year. This would include flushing of the waterlines, repairs, new water taps and meters. Funds are included for the first year of a tank maintenance program.
WATER-SEWER FUND: The water-sewer fund reflects a decrease in investment earnings during the year due to the decline in interest rates. Estimated Investment earnings are $2,900. The unappropriated fund balance should continue to earn interest until such time that funds may be needed for longer-term maintenance and upkeep on the tank and water system.
The Proposed Budget for 2011-2012 is presented for the review and the input of the Town Council as well as the citizens of the Town. It is hoped that the Proposed Budget will provide a sound financial position with revenues being utilized in beneficial ways for all of the citizens of the Town of Stokesdale.
Respectfully submitted the 19th day of May, 2011,
Carolyn L. Joyner
Budget Officer
Mayor Randle L. Jones, Councilman Bobby H. Richardson, Budget Committee