BE IT ORDAINED by the Town Council of the Town of Blowing Rock, North Carolina, that the following Revenues and Expenditures are hereby approved for the operation of the Town of Blowing Rock for the Fiscal Year beginning July 1, 2004 and ending on June 30, 2005:

Property Taxes	2,285,900
Occupancy Tax	262,205
Sales Tax	320,000
State Collected: Franchise/Telecom/Beer & Wine	138,610
ABC Revenue	125,000
Sales/Services	304,590
Powell Bill	81,000
Federal/State Grants	0
Other Revenue	159,285
Fund Balance Appropriated	0
TOTAL GENERAL FUND	$3,676,590

Governing Body	$46,845
Administration and Finance	284,060
Central Government	190,700
Public Buildings	216,510
Police Department	779,710
Emergency Services	284,170
Planning and Inspections	199,110
Street Department	762,780
Sanitation Department	293,145
Community Contributions	11,500
Recreation Department	343,060
Transfer to W/S Capital Projects Fund	200,000
Transfer to Fund Balance	65,000
TOTAL GENERAL FUND	$3,676,590

Interest Income	$11,500
Miscellaneous Income	3,000
Charges for Water Service	684,000
Charges for Sewer Service	512,705
Late Payment Fees	7,500
Taps and Connections	10,000
Water Impact Fee	45,000
Sewer Impact Fee	65,000
Reconnect Fee	1,500
Fund Balance Appropriated	0
TOTAL WATER/SEWER FUND	$1,340,205

Administrative/Engineering/Billing	$366,975
Water and Sewer Plant Operations	518,555
Water and Sewer Field Operations	224,675
Transfer to W/S Capital Projects Fund	230,000
TOTAL WATER/SEWER FUND	$1,340,205

Transfer from GF for Sidewalks	$10,000
Transfer from GF for Emergency Services Reserve	50,000
Transfer from GF for Swimming Pool Reserve	20,000
Accumulated Balances	20,000
TOTAL CAPITAL PROJECTS REVENUE	$100,000

Emergency Services Architect/Design	$50,000
Swimming Pool Architect/Design	30,000
General Capital Projects	20,000
TOTAL CAPITAL PROJECTS APPROPRIATIONS	$100,000

Transfer from General Fund	$200,000
Transfer from Water/Sewer Fund	230,000
TOTAL CAPITAL PROJECTS REVENUE	$430,000

Greenhill Area Sewer Line Project Capital Expenditures	$225,000
Water/Sewer Capital Projects	205,000
TOTAL W/S CAPITAL PROJECTS APPROPRIATIONS	$430,000

There is hereby levied, for Fiscal Year 2004-2005, the following ad valorem tax rate of 29.5¢ per one hundred dollar ($100.00) valuation on taxable property as listed for taxes as of January 1, 2004 for the purpose of revenue as set forth in the foregoing estimates of revenue and in order to finance the foregoing appropriations:

This rate of tax is based on an estimated assessed valuation of $772,000,000, excluding motor vehicles, with an estimated collection rate of 97.0%.

There is hereby established, for Fiscal Year 2004-2005, various fees and charges as contained in Attachment A located in the appendix section of this document.

Interfund and interdepartmental money transfers, except as noted in Section 12 (B), shall be accomplished only with specific advanced approval of the Blowing Rock Town Council.

This ordinance shall be the basis of the financial plan for the Town of Blowing Rock municipal government during the 2004-2005 fiscal year. The Budget Officer shall administer the Annual Operating Budget and shall insure that operating officials are provided guidance and sufficient details to implement their appropriate portion of the budget.

The Finance Director shall establish and maintain all records, consistent with this ordinance, and the appropriate state statutes of the State of North Carolina.

A copy of this ordinance shall be furnished to the Town Manager and the Finance Officer of the Town of Blowing Rock to be kept on file for direction in the disbursement of funds.

Adopted this 8th day of June, 2004.

__________________________________

J.B. Lawrence

ATTEST:

______________________________

Sharon H. Greene

Deputy Town Clerk