Bladen County commissioners receive monthly updates on revenues and expenditures for the county. The latest report was presented Tuesday, January 20 and is for the first 6 months of the 2014-2015 fiscal year.
On the revenue side, the county has collected 52.9% of all revenues for the year. There are 4 major sources of revenues. Property (Ad Valorem) taxes, Sales and Service revenues, Restricted Intergovernmental funds and Local Option Sales Taxes.
As of December 31, 2014, 72.65% of Ad Valorem taxes, or $14,210,063 had been collected. That is about $800,000 less than collected at the same time a year ago. County Manager, Greg Martin pointed out that collections over the first few days of January totaled nearly $800,000. January 5 is the last day to pay property taxes prior to a 2% penalty being added to the bill. 28.05% of sales tax had been collected on December 31, however there is little the county can do to speed up the process. Sales taxes are collected by the state and the county receives their portion on a set schedule.
Restricted Governmental funds are revenues from the state and national government that are, for the most part, “pass through funds” for specific programs.
Sales and services include water funds, and other local programs and services provided by the county for a fee.
At the midway point in the fiscal year, Bladen County had collected 52.93% of a $44,895,213 budget.
Expenditures were “in line” as well. At the midway point of the fiscal year 51.93% of the budget had been expended.
The total cash and investments was $21,341,787 with $16,527,019 in the General Fund line item at the midway point in the current fiscal year.
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