Guilford County
File #: 2020-233    Version: 1 Name:
Type: Budget Amendment Status: Passed
File created: 5/1/2020 In control: Board of Commissioners
On agenda: 5/21/2020 Final action: 5/21/2020
Title: BUDGET AMENDMENT FOR FY 2019-20 COLLECTION FEE - VTS
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TITLE

Title

BUDGET AMENDMENT FOR FY 2019-20 COLLECTION FEE - VTS

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SPONSOR

Sponsor

Ben Chavis

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BACKGROUND

Background

Budget adjustment is needed to account for unanticipated expenses in NC DMV Collection Fees for FY 2019-20.  These fees consist of the fees that Guilford County is required to pay the State of North Carolina for collecting its vehicle tax.  There was a miscalculation of the DMV Collection Fees along with a 10% increase by the State after the FY 2019-20 budget process.

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BUDGET IMPACT

Budget Impact

Budget Ordinance Amendment

General Fund

$150,000 Increase in Property Tax Revenue

$150,000 Increase in Appropriation to Tax

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REQUESTED ACTION

Requested Action

Approve the increase of $150,000 of Property Tax Revenue and increase FY 2019-20 Tax Department budget by the same amount.

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