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Moore County Home Builders Association

P. O. Box 912,
10022 NC HWY 211 E.
Aberdeen, NC  28315

Moore County Home Builders Association
Moore County Home Builders Association

(910) 944-2992

Moore County Home Builders Association Moore County Home Builders Association Moore County Home Builders Association Moore County Home Builders Association

MCHBA meeting presentation

Read the MCHBA Meeting  for January 16 2018 here

 

We also received an email regarding the FY 2017 revenues

The email is as follows:

Good morning Warren,

 

I wanted to pass along the presentation from the January 16 meeting and thank you again for the invitation.  I wanted to make sure also the discussion about FY 2017 revenues, expenses, and fund balances was a little more clear in case there were questions.  After the meeting, I had the concern that I may have tried to present too much info and maybe should have kept it to 2 or 3 key points.

 

For the General Fund, which is the main County Operations fund supported primarily by property taxes and sales taxes, the County ended FY 2017 (6/30/2017) with revenues in excess of expenses.  This is a good position and allows for the general fund balance (unspent $) to increase; for FY 2017 the fund balance increased from $27M to $29M; however, not all fund balance dollars are available for spending, there are various accounting categories that specify the allocation of the dollars.  The “unassigned” category is dollars that may be spent as the Board deems appropriated and necessary, but the County has a fiscal policy of maintaining a specified percentage of unassigned fund balance (percent is calculated based on actual expenses for the year).  With all of the capital projects for the County, College and Schools facing the County, this year the Board increased the percentage of unassigned from 15% to 17%  which allowed for the unassigned general fund balance to be set at $15.2M.  Dollars in excess of 17% get transferred into a capital reserve fund to be used for capital projects (upfront expenses or annual debt service); for FY 2017, the amount transferred to capital reserve was $2.0M.

 

As the County takes on additional debt for capital projects and expenditures increase having a greater unassigned fund balance will help maintain the County’s fiscal health and bond rating both of which help keep borrowing cost as low as possible.  Additionally, it is a sound practice to avoid allocating fund balance dollars which are basically one-time-dollars to recurring expenditures (example of recurring expenditures would be salaries).

 

I know this is a lot of information but I wanted to provide more detail to make clear revenues did not exceed expenses by $17M for FY 2017. 

 

I also spoke with Debra Ensminger, Planning Director, about the question Ron Jackson asked related to HB 252 and internal reviews.  The Planning Dept has a process and I will ask Debra to reach out to Ron for more discussion.

 

Call if needed.  

 

  1. Wayne Vest

Moore County Manager

Office:  910-947-6363

Cell: 910-690-6683

 
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  • Updates and News

    Upcoming Events: The Builder Awards Entry is Now Open | 2019 January Membership Meeting

    We extended the deadline for the Home & Garden Sponsorships till November 15th.

    You can find the sponsorship packet information here.

    Moore County Home Builders Association

    Moore County Home Builders Association

    Moore County Home Builders Association
    P.O. Box 912
    10022 NC Highway 211 East
    Aberdeen, NC 28315
    Phone: 910-944-2992