Town of Duck
Budget Ordinance
FY 2007-2008
BE IT ORDAINED by the Town Council of the Town of Duck, North Carolina, meeting this 6th Day of June, 2007, that the following be the budget for FY 2007-2008:
Section I. Appropriations: The following amounts are appropriated for the operation of the Town government and its activities for the fiscal year beginning July 1, 2007, and ending June 30, 2008:
General Fund
Governing Body $125,400
Administration $262,403
Finance $ 31,000
Legal $ 42,000
Public Buildings $ 99,000
Information Technology $ 35,000
Police $735,466
Fire $423,420
Inspections $118,861
Ocean Rescue $232,600
Streets and Highways $ 94,500
Sanitation $914,000
Planning and Zoning $171,383
Cultural & Recreational $168,787
Capital Outlay $ 0
Transfers to Other Funds $ 0
Contingency $ 75,000
Fund Balance $ 35,829
Section II. Estimated Revenues: It is estimated that the following revenues will be available during the fiscal year beginning July 1, 2007, and ending June 30, 2008:
General Fund
Ad Valorem: Real Property $1,841,777
Ad Valorem: Motor Vehicles $ 8,500
Local Government sales Tax $ 515,000
Real Estate Transfer Tax $ 230,000
Occupancy Tax $ 515,000
Beer and Wine $ 2,000
Utility Franchise Tax $ 150,000
Powell Bill $ 11,372
Building Permits $100,000
Inspection Fees $ 15,000
Other Permits and Fees $ 15,000
Mixed Beverage Tax $ 39,000
ABC Distribution $ 12,000
ABC Distribution $110,000
Total Revenues: $3,564,649
Section III. The tax rate will be 9 (nine) cents on each one hundred dollars ($100) valuation of taxable property, as listed for taxes as of January 1, 2007, for the purpose of raising revenue listed as “Ad Valorem Taxes” as set forth in the foregoing estimates of revenue and in order to finance the foregoing appropriations. Such rate is based on an estimated total valuation of property of $2,077,998,400 at an estimated rate of collection of 99.98%.
Section IV. Special Authorization - Budget Officer
The Budget Officer is hereby authorized to transfer appropriations within a fund as contained herein under the following conditions:
a) He may transfer amounts between objects of expenditure within a department limitation.
b) He may not transfer any amounts between departments or funds from any contingency appropriation within any fund.
SECTION V.
The Town Manager is hereby authorized to execute the necessary agreements within funds included in the Budget Ordinance for the following purposes: (1) Form grant agreements to public and non-profit organizations; (2) Leases of normal and routine business equipment where the annual rental of each is not more than $20,000; (3) Consultant, professional or maintenance service agreements where the annual compensation of each is not more than $20,000; (4) Purchase of apparatus, supplies, materials, or equipment where formal bids are not required by law; (5) Agreements for acceptance of State, Federal, public, and non-profit organization grant funds, and funds from other governmental units for services to be rendered; (6) Construction or repair work where formal bids are not required by law; and (7) Liability, health, life, disability, casualty, property or other insurance or retention and faithful performance bonds. Other appropriate Town officials are also authorized to execute or approve such insurance and bond undertakings as provided by law.
SECTION VI.
The Town of Duck Fee Schedule as revised on June 6, 2007 is hereby approved with an effective date of July 1, 2007.
Adopted this 6th Day of June, 2007.
_________________________________________
/s/ Mayor
_________________________________________
/s/ Clerk
Last Updated June 8, 2007