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Town of Navassa

2023-2024Budget Ordinance

 

 

BE IT ORDAINED AND ESTABLISHED by the Town Council of the Town of Navassa, North Carolina that:

            SECTION 1. The following amounts are hereby appropriated in the General Fund for the operation of the Town government and its activities for the fiscal year beginning July 1, 2023, and ending June 30, 2024, in accordance with the chart of accounts heretofore established for the Town:

DEPARTMENT                                                              BUDGETED

Governing Body                                                              $134,579.00

Administration                                                                 $354,566.00

Public Building                                                                 $   3,000.00

Environmental Development                                            $119,496.00

Public Safety                                                                    $329,139.00

Street & Transportation                                                    $ 30,500.00

Community Center                                                            $ 34,334.00

Environmental Protection                                                  $ 35,200.00

Cultural & Recreation                                                        $ 31.520.00

TOTAL APPROPRIATIONS:                                         $1,072,334.00

           

SECTION 2. It is estimated that the following revenues will be available in the General Fund for the fiscal year beginning July 1, 2023 and ending June 30, 2024:

REVENUES                                                                            BUDGETED

Ad Valorem Tax                                                                           $285,000.00

Sales & Use Tax                                                                          $576,986.00

DMV-NCVTS                                                                                $ 53,798.00

Event Revenue-Community Center                                             $   5,000.00

Franchise Tax                                                                              $ 50,000.00

Beer & Wine Tax                                                                          $   8,900.00

Interest Earnings                                                                         $       300.00

Mosquito Grant                                                                            $       800.00

Planning & Zoning                                                                        $ 15,000.00

Storm Water                                                                                 $ 15,000.00

Miscellaneous Revenue                                                               $   1,500.00

Police Collections                                                                         $      500.00

Fund Balance-GF                                                                         $ 59,550.00

Total Estimated Revenues                                                     $1,072,334.00

SECTION 3. The following amounts are hereby appropriated in the Powell Bill Fund for the operation of the Street Maintenance for the fiscal year beginning July 1, 2023 and ending June 30, 2024 in accordance with the chart of accounts heretofore approved for the Town:

EXPENDITURES                                                                    BUDGETED

Powell Bill                                                                                $135,338.00                                     

Total Expenditure:                                                                 $135,338.00

            SECTION 4. It is estimated that the following revenues will be available in the Powell Bill Fund for the fiscal year beginning July 1, 2023 and ending June 30, 2024.

POWELL BILL REVENUE:

Powell Bill

   

$ 61,446.00

Powell Fund Balance App.

   

$ 73,892.00

 

Total:

 

$135,338.00

       

SECTION 5. The following amounts are hereby appropriated in the Capital Project Fund for the construction of six capital projects for the fiscal year beginning July 1, 2023 and ending June 30, 2024 in accordance with the chart of accounts heretofore approved for the Town:

EXPENDITURES                                                               BUDGETED

Municipal Building                                                           $1, 000,000.00

Moze Heritage                                                                    $ 241,500.00

Multiuse Path                                                                      $ 642,320.00

Navassa Storm Water                                                         $ 263,300.00

Navassa Waterfront Park                                                   $ 398,737.00

Indian Creek Project                                                           $ 516,465.00

   

                                                             Total:                   $3,062,322.00

            SECTION 6. It is estimated that the following revenues will be available in the Capital Project Fund for the fiscal year beginning July 1, 2023 and ending June 20, 2024.

REVENUE:                                                                              BUDGETED

Municipal Building-General Fund                                                $1, 000,000.00

Moze Heritage – Kerr McGee Settlement                                      $ 241,500.00

Multiuse Path

            DOT Match                                                                          $ 585,182.00

            Town Match                                                                         $   57,138.00

Navassa Storm Water – Kerr McGee Settlement                            $ 263,300.00

Navassa Waterfront Park – Kerr McGee Settlement                       $ 398,737.00

Indian Creek Project – Kerr McGee Settlement                               $ 516,465.00

                                                                                    Total:         $3,062,322.00       

          SECTION 7. There is hereby levied a tax rate of twenty cents (.23) per one hundred dollars (100.00) valuation of property listed as of January 1, 2023 for the purpose of raising revenue included in “Ad Valorem Taxes – Current Year” in the General Fund, in Section 2 of this ordinance. This rate of tax is based on an estimated total valuation of property for the purpose of taxation of $126,626,960.00 an estimated collection rate of 93%.

            SECTION8. The Budget Officer is hereby authorized to transfer appropriations as contained herewith under the following conditions:

  1. Budget Officer may transfer amounts between line item expenditures within a department without limitation and without a report being required. These changes should result in increased in recurring obligations such as salaries.
  1. Budget Officer may transfer amounts up to $1,000.00 between departments, including contingency appropriations, within the same fund. Budget Officer must make an official report on such transfers at the next regular meeting of the Town Council.
  1. Budget Officer may not transfer any amounts between fund except as approved by the Town Council in the Budget Ordinance as amended.

SECTION 9. The Budget Officer may make cash advances between funds for periods not to exceed sixty (60) days without reporting to Town Council. Any advances that exceed sixty (60) days must be approved by Town Council. All advances that will be outstanding at the end of the fiscal year must be approved by Town Council.

SECTION 10. Copies of this Budget Ordinance shall be furnished to the Town Clerk, Budget Officer, and Finance Officer to be kept on file by them for their direction in the disbursement of funds.

Adopted this 15th day of June, 2023.