Cabarrus County, like most metropolitan areas of the region, state and country, continued to experience a high volume of residential, commercial and industrial growth over the past few years. The County’s population continues to increase each month. The NC Office of Budget and Management projects that our population will reach 200,000 by July of this year. As a result, Cabarrus continues to be ranked 11th out of the 100 (population) counties in NC. This growth in population brings additional demands on our public services - especially school capital and operational needs. The growth also created a positive impact to the County’s revenues, which equated to projected growth of 6.73% in ad valorem taxes and 3.89% in sales taxes.
FY 17 Budget Highlights:
- Funding for the adopted budget requires an ad valorem tax rate of 70 cents. This rate is .0023 cents higher than the revenue neutral rate
- Targeted staffing and funds toward the five areas of focus identified as important by the Board of Commissioners:
- Planning, growth and economic development
- Communications and public education
- Programs, funding and services, while providing excellent customer service
- Public safety
- Transportation and mobility
- More than $7 million in funding toward new debt service for construction of Mount Pleasant Middle, Kannapolis Middle and Royal Oaks Elementary schools
The budget adopted for FY 2017, as well as those in the remaining years in the Five-Year Financial Plan, are prudent and generally meet the needs of the County and the school system while maintaining adequate General Fund reserves. It is important to note, however, that revenue projections in these plans assume continuing improvement in the economy. In the absence of such improvement, considerable adjustments will be required.