FRANKLIN COUNTY REPUBLICAN PARTY
101 WEST NASH STREET
P.O. BOX 909
LOUISBURG, NORTH CAROLINA 27549
(919) 496-1469
www.FranklinNCGOP.com
E-mail: FranklinNCGOP@aol.com

May 29, 2007

$64,451,588.00


May 29, 2007: Commissioners hash out 2008 budget which could increase by $3,558,121 from last year's $60,893,121. Left to right: Finance Director Chuck Murray, Manager Chris Coudriet, Commissioners Robert Lee Swanson, Chairman Lynwood Buffaloe, Don Lancaster, Harry Foy, Sid Dunston, Penny McGhee-Young and Bob Winters.

No vote was taken at the May 29 recessed budget workshop meeting but commissioners discussed where money would come from to pay for more sheriff's deputies, funding for schools and other county needs.

Because of overwhelming support for the 2004 school bond taxpayers could see a five-cent tax increase on the hundred dollars; a homeowner could face a $100 tax increase.

Finance Director Chuck Murray said the proposed $3,588,121 spending increase for fiscal year 2007-08 could come from the proposed tax increase which could generate $1,776,000 in revenue. The fund balance appropriation would be $1,791,866. The 2008 budget would be $64,451,588 if adopted.

The lottery proceeds so far have generated $241,211 and another million dollars is expected for next year.

To pay off a $50 million bond debt:

    Year 1:    2,604,166
    Year 2:    4,924,166
    Year 3:    4,585,000
    Year 4:    4,475,000
    Year 5:    4,365,000

If a $50 million bond is passed it could result in a 13 cent tax increase or an extra $260 for a $200,000 home.

The available fund balance is $12,264,404, yet none was used for the new animal shelter which costs over one million dollars. That came from COPS (Certificates of Participation).

County Manager Chris Coudriet said the population increase is projected at 2.7 to 3 percent for next year.

Sheriff Pat Green has requested 19 new positions but may receive just four. Most of the new positions are for more deputies to patrol the county.

A public hearing for the budget is scheduled for Monday, June 18 before commissioners adopt the 2007-2008 budget.