Bladen County Commissioners receive a monthly update of Revenues and Expenditures as they relate to the adopted budget. The latest numbers are for the first 7 months of the current fiscal year.
The county has two major local sources of revenues, Ad Valorem Taxes (property taxes) and Sales Tax.
The local tax office has collected 87.50% of current year property taxes. The total levy was $21,718,728 and as of January 31st, 2016, $19,003,301 had been collected. At this time a year ago, collections totaled $17,412,253. Commissioners raised the tax rate by 8 cents to cover additional cost related primarily to the cost of a new detention center and an increase in the cost of Emergency Medical Services.
Sales tax are collected at the point of sale, sent to the state and then a portion returned to the county. After 7 months of collection, the county has received just over $1.5 million, about the same as a year ago. The county budgeted $4,245,016 for the 2015-16 fiscal year.
Total of all sources of revenue was $32,214,039 or about 68.50% collected after 7 months. Over $6 million are federal and state funds used to fund a portion of DSS and the local school system.
Expenditures total 55.27% of a $47 million plus budget, or nearly $26 million.
Cash and investments was $26,307,115 as of January 31, 2016 with $20.6M of that total in the General Fund.
The latest report was delivered to the Board of Commissioners at their most recent meeting, Monday evening, February 15, 2016.
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