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, 2005 and ending on June 30, 2006:

Property Taxes	2,330,500
Occupancy Tax	259,525
Sales Tax	333,850
State Collected: Franchise/Telecom/Beer & Wine	151,000
ABC Revenue	120,000
Sales/Services	307,350
Powell Bill	81,000
Federal/State Grants	0
Other Revenue	180,120
Fund Balance Appropriated	0
TOTAL GENERAL FUND	$3,763,345

Governing Body	$50,745
Administration and Finance	304,290
Central Government	205,130
Public Buildings	206,470
Police Department	808,075
Emergency Services	297,615
Planning and Inspections	195,445
Street Department	782,330
Sanitation Department	304,800
Community Contributions	8,500
Recreation Department	394,945
Transfer to W/S Capital Projects Fund	205,000
Transfer to Fund Balance	0
TOTAL GENERAL FUND	$3,763,345

Interest Income	$16,750
Miscellaneous Income	4,400
Charges for Water Service	676,495
Charges for Sewer Service	512,705
Late Payment Fees	7,500
Taps and Connections	10,000
Water Impact Fee	45,000
Sewer Impact Fee	82,000
Reconnect Fee	1,500
Fund Balance Appropriated	0
TOTAL WATER/SEWER FUND	$1,356,350

Administrative/Engineering/Billing	$356,430
Water and Sewer Plant Operations	512,620
Water and Sewer Field Operations	257,300
Transfer to W/S Capital Projects Fund	230,000
TOTAL WATER/SEWER FUND	$1,356,350

Transfer from GF for Sidewalks	$10,000
Transfer from GF for Parking Facility	10,000
Transfer from GF for Storm Water	10,000
Transfer from GF for Swimming Pool Reserve	25,000
Transfer from GF for Emergency Services Building	50,000
Blowing Rock Fire District – Emergency Services Building	75,000
North Caldwell District – Emergency Services Building	10,000
TOTAL CAPITAL PROJECTS REVENUE	$190,000

Emergency Services Building	$135,000
Swimming Pool Architect/Design	25,000
General Capital Projects - Sidewalks	10,000
General Capital Projects - Parking Facility	10,000
General Capital Projects - Storm Water	10,000
TOTAL CAPITAL PROJECTS APPROPRIATIONS	$190,000

Transfer from General Fund	$205,000
Transfer from Water/Sewer Fund	230,000
TOTAL CAPITAL PROJECTS REVENUE	$435,000

Greenhill Area Sewer Line Project Capital Expenditures	$300,000
Water/Sewer Capital Projects	135,000
TOTAL W/S CAPITAL PROJECTS APPROPRIATIONS	$435,000

There is hereby levied, for Fiscal Year 2005-2006, 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, 2005 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 $787,000,000, excluding motor vehicles, with an estimated collection rate of 97.0%.

There is hereby established, for Fiscal Year 2005-2006, 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 2005-2006 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 14th day of June, 2005.

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J.B. Lawrence

Mayor

______________________________

Sharon H. Greene

Town Clerk