Finance chief says tax revenues on target for this year ...

Posted on 04 February 2013.

By DRU WILLIS
CorneliusNews.net

With 58 percent of the fiscal year completed, town projections show that tax revenue is on track to meet the budget for the fiscal year ending June 30, Cornelius commissioners were told Monday night.

?Obviously collections will continue to go on for the next five months, but based on what we have budgeted we are going to make budget,? finance director Jackie Huffman said in a presentation at the board?s ?pre-meeting? at Town Hall.

At Monday?s meeting, the board also voted to endorse staff recommendations on a plan for sidewalks on Torrence Chapel Road, and got updates on the MI-Connection Communications System and the Ada Jenkins Center in Davidson. Commissioners also discussed revisions to the town?s code of ordinances, and appointed several people to various town boards.

The ?pre-meeting,? a session before the regular Town Board meeting, also featured a presentation by the City of Charlotte, Mecklenburg County, and the University of North Carolina on a new Charlotte region quality of life study.

BUDGET OUTLOOK

In her report on the town budget, including revenue and expenses, Ms. Huffman said property, sales and franchise taxes make up more than 80 percent of the town?s revenue.

The town projected receiving $2,395,004 in sales tax revenue, and so far has estimated receiving $200,000 a month. So far, Cornelius has received $1,500,000, so it is about $35,000 ahead of budget.

?We will make budget easily in sales tax assuming there is no drop in sales tax,? Ms. Huffman said, adding that her report did not include December numbers yet.

Meanwhile, property taxes will be coming in soon as they are typically paid in December and January. ?So the majority of taxes that will be collected have come in,? she continued.

The town?s utility franchise tax revenue is budgeted at $1,549,721 with approximately $694,000 (44 percent) collected.

?It?s my expectation that we probably will not make budget on that one line item,? Huffman stated. ?But the other two ? property tax and sales tax ? will more than make up for it.?

So far, the town has spent 52.6 percent ? or $10,402,959.18 ? of its $19,976,471 expense budget.

TORRENCE CHAPEL SIDEWALKS

After two public meetings, the board voted to follow the recommendations of town staff for a proposed sidewalk along Torrence Chapel Road.

The sidewalk will be installed during a project with the North Carolina Department of Transportation to widen the street running north of West Catawba Avenue. The road currently is about 15 feet wide, and will be widened to 20 feet, averaging about 2 1/2 more feet on each lane.

Which side the sidewalk will be built is still to be determined. The first public meeting saw disagreement over whether to place it on the north and east side of the road, while the second brought sentiment against placing it on the other side. However, Town Manager Anthony Roberts said he felt a basic agreement that the south and west side of the street would be best and for it not to go past Senlac Lane.

?What DOT wants to hear from this board is do we want to partner with them and move forward with them on the sidewalk,? Mr. Roberts said before the vote.

MI-CONNECTION, ADA JENKINS UPDATES

Cornelius resident Rodney Short gave a short presentation on the Ada Jenkins Center, a regional community services center in Davidson where he is co-chair of board of directors. He said there have been ?quantifiable and measurable? results on the town?s investments in programs there.

For example, of the 99 students in the center?s LEARN Works after school program ? which serves impoverished, at-risk children in first through sixth grades ? 55 list their zip code as Cornelius 28031. The program itself has a nearly 100 percent success rate of students going to the next grade, he said.

?The level of quality and dedication of the folks that serve on that board and what they are able to accomplish with a minimum of dollars is just incredible,? Commissioner Chuck Travis said.

Mr. Short also serves as a member of the MI-Connection board of directors and gave a second-quarter financial and operations report. MI-Connection is the local cable and internet system owned by the towns of Davidson and Mooresville. It serves about 15,000 customers in the Lake Norman area, including Cornelius.

Total revenue in the 2nd quarter that ended Dec. 2012 was $167,431, or 4.2 percent, better than 2012, he said, and the revenue is driven by growing number of customers. But the system is still losing money.

?As far as long term plans for the company, we have looked at a few things. And growing the customer base is the thing to be done. It?s the solution that?s most achievable and it?s the most realistic thing we can try to do, and that?s exactly what we are trying to do. But it?s a difficult solution,? Mr. Travis said.

Julie Miller was appointed to the Historic Preservation Commission and the town board also voted to extend a contract for auditors Mark Starnes & Associates.

Anthony Roberts reported in his town manager?s report that sidewalks in the area continue to be fixed and repaired with an end date estimated in mid-March. Also, eight of 20 new Town of Cornelius signs have been erected. The town also recently purchased 115 various trees from a local business going out of business of ?good size, calibre, and height? for about one-quarter of the price, if not less, including installation. They will be planted in local parks.

RELATED LINKS

See the full agenda from Monday?s meeting along with related documents on the town website

Download the Mecklenburg Quality of Life study featured in the pre-meeting at http://maps.co.mecklenburg.nc.us/qoldashboard

Jan. 27, 2013, ?MI-Connection reports growth, expands marketing campaign?

Source: http://corneliusnews.net/blog/2013/02/04/finance-chief-says-tax-revenues-on-target-for-this-year/

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