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Current Information / Projections for Moore County

Current Information / Projections for Moore County. Presented by: Tim Lea Moore County Commissioner September 2011. Overview of Presentation. County Financial Information Update on Capital Projects Public Safety / Detention Center Government Administration Building Courts Facility

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Current Information / Projections for Moore County

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  1. Current Information / Projections for Moore County Presented by: Tim Lea Moore County Commissioner September 2011

  2. Overview of Presentation • County Financial Information • Update on Capital Projects • Public Safety / Detention Center • Government Administration Building • Courts Facility • Moore County Public Schools • Update on Other Projects • Water Projects • Heart of North Carolina MegaSite

  3. County Financials • Existing Debt Service • Capital Improvement Projects & Projected Costs • Revenues and Expenditures • Tax Collection Rate

  4. Existing Debt Service (Annually) *In 2008-09, the County refinanced Moore County Schools debt that shows as a principal payment for auditing purposes.

  5. General Government Debt on June 30, 2007

  6. Utilities Debt on June 30, 2007

  7. Total Debt on June 30, 2007 • General Government $47,607,895 • Utilities $ 7,906,306 • Total $55,514,201

  8. Existing General Government Debt

  9. Existing Utilities Debt *Debt Issued Fiscal Year 2011-2012

  10. Total Existing Debt • On June 30, 2011 • General Government $158,398,276 • Utilities $ 33,155,582 • Total $191,553,858 • On August 1, 2011 • General Government $158,398,276 • Utilities* $ 63,986,769 • Total $222,385,045 *Includes WPCP Upgrade and EMWD Phase 3

  11. Debt Service Balances *Debt Issued Fiscal Year 2011-12 **Debt to be issued at close of project

  12. Debt Service Balances

  13. Debt Balance Comparison • Total Debt • On June 30, 2007 $ 55,514,291 • August, 2011 $222,385,045 • Difference $166,870,754 • $195 million of the County’s $222 million debt service obligations are attributed to the following projects: • GO Bonds for MCS and SCC in 2008 & 2009 ($95 Million Remaining) • Public Safety Complex/Detention Center ($41 Million Remaining) • Pinehurst Utility Projects ($13 Million Remaining) • East Moore Water District Phases 2 and 3 ($22 Million Remaining) • Water Pollution Control Plant Upgrade ($24 Million Remaining)

  14. Capital Reserve Fund Running Balance

  15. Capital Reserve Fund Balances • Governmental Projects - $7,718,586 • Debt Service - $4,448,783 • Includes a $1,800,000 decrease to pay for debt service in FY 2011-12 • Enterprise Funds - $4,560,524 • Includes $1,616,478 increase budgeted in FY 2011-12

  16. General Fund Revenues Budgeted for Fiscal Year 2012

  17. General Fund Expenditures Budgeted for Fiscal Year 2012

  18. Total Expenditures Includes all expenses, including internal service funds, where the County was its own customer. *Estimated **Budgeted

  19. TAX VALUE AND COLLECTION DATA YEAR 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,473,833,391 $11,668,028,506 $11,696,128,000 $11,852,093,247 RATE/$100 0.49 0.53 0.545 0.545 0.475 0.475 0.455 0.455 0.445 0.479 0.465 .465 .465 COUNTY GENERAL COLLECTED $23,810,243 $26,997,890 $28,690,476 $30,225,195 $36,018,760 $36,892,447 $37,025,099 $38,442,260 $49,573,897 $54,564,249 $53,938,563 $54,236,496 $53,423,438 Projected for 6/30/12

  20. TAX VALUE AND ADVANCED LIFE SUPPORT (ALS) COLLECTION DATA YEAR 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,421,020,996 $11,668,028,506 $11,696,128,000 $11,852,093,247 RATE/$100 0.05 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.03 0.025 0.02 0.02 0.02 ALS COLLECTED $2,428,325 $2,555,974 $2,633,835 $2,768,613 $3,039,999 $3,103,273 $3,246,937 $3,376,115 $3,367,067 $2,867,348 $2,333,975 $2,202,481 $2,297,780 Projected 6/30/12

  21. TAX VALUE AND FIRE COLLECTION DATA YEAR 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 INITIAL VALUE $4,883,710,385 $5,059,453,701 $5,306,291,819 $5,584,765,367 $7,621,293,650 $7,779,578,744 $8,180,884,836 $8,524,636,576 $11,188,555,482 $11,421,020,996 $11,668,028,506 $11,690,128,000 $11,852,093,247 FIRE DISTRICT COLLECTED $1,879,665 $1,960,374 $2,049,473 $2,204,028 $2,336,556 $2,363,852 $2,571,182 $2,736,384 $3,367,531 $3,467,176 $3,393,104 $2,865,223 $3,128,294 Projected 6/30/12

  22. FIRE DISTRICT TAX VALUE AND COLLECTION DATA DISTRICT ABERDEEN CARTHAGE CRAINS CRK CRESTLINE CYPRESS POINTE EAGLE SPRGS EASTWOOD HIGHFALLS PINEBLUFF PINEHURST ROBBINS 7 LAKES S. PINES WEST END WESTMOORE WHISPERING PINES INITIAL VALUE $51,060,000 $352,500,000 $102,890,000 $88,930,000 $782,787,000 $213,030,000 $212,970,000 $151,550,000 $199,500,000 $175,000,000 $261,005,000 $657,900,000 $532,500,000 $424,300,000 $174,895,000 $126,623,000 RATE .093 .067 .111 .085 .079 .078 .070 .066 .089 .084 .061 .040 .089 .059 .071 .058 PROJECTED COLLECTIONS $46,774 $232,632 $112,495 $74,457 $609,126 $163,671 $146,843 $98,523 $174,892 $144,795 $156,825 $259,213 $466,816 $246,582 $122,313 $72,340 TOTAL: $3,128,294

  23. YEAR REAL VALUE % INC % INC TOTAL VALUE $4,509,241,865 $6,568,126,065 $5,584,765,367 $7,621,293,650 2002 2003 45.6% 36.4% $8,524,636,576 $11,188,555,482 $7,320,824,701 $9,963,358,595 2006 2007 36.1% 31.2% TAX VALUE AND COLLECTION DATA IMPACT OF REVALUATION ON VALUES ESTIMATED PROJECTIONS FOR 2011 - 2012 TOTAL VALUE RATE TOTAL REVENUE PROJECTION $11,852,093,247 0.465/$100 $53,423,438

  24. Tax Collection Rate

  25. Moore County Tax Rate Comparison

  26. Tax Rate Information • Value of 1 penny on the tax rate is estimated to be $1,148,891 • This is based on the value, collection rate, discount offered and taken, and interest for late payment • 79 of the 100 NC counties have a higher tax rate than Moore County

  27. Tax Rate Comparison Surrounding Counties

  28. Tax Rate Comparison Surrounding Counties

  29. Capital Projects Under Consideration

  30. Current Public Safety / Detention Center • July 21, 2010 Bid Opening • $27,224,000 (D.H. Griffin Construction) • Limited Obligation Bond Financing • Principal - $29,830,000 • Interest - $12,006,413 • Total - $41,836,413 • 147,000 Square Feet • Detention Center (192 beds) • E-911 Center • Public Safety/Fire Marshal • Sheriff’s Department

  31. Government Administration Building • 5/17/10 – Board voted to not place this building on the Grimm property • 5/17/10 – Board voted to not bid the government building at this time • Latest Cost Estimate - $11,730,228 • Includes $497,700 of design fees already paid • Does not include site work

  32. Courts Facility • 3/15/10 - Received a comprehensive space needs assessment from Solutions for Local Government • Estimated Construction Cost: $21,886,200 • 116,700 gross square feet and 150 parking spots

  33. Other Future Major Capital Requests • Moore County Schools • Modernization Projects $14,800,000 • New High School - 35,000,000 • New Middle School - 18,000,000 • 2 New Elementary Schools – 26,000,000 • Elementary Addition - 4,000,000 • West End Elementary Sewer - 2,000,000 Total $99,800,000 • The preceding information is listed in the County’s future Capital Improvement Project (CIP) and is not approved or funded

  34. Current Water System Capital Improvement Projects • Radio Read Meters 1,288,000 • SCADA Upgrades 163,000 • 2 New Wells in Pinehurst (3A, 6A) 370,700 • East Moore Water District Phase 3 3,871,816 __________________________________________________ TOTAL $5,693,516

  35. Current Sewer System Capital Improvement Projects • Old Town Sewer Rehab $5,450,000 • 2 Lift Station Permanent Generators 185,000 • ATEX Sewer Line and Lift Station 525,390 • Vass (Little River Regional Lift Station) 2,274,898 __________________________________________________TOTAL $8,435,288

  36. Addor Water Pollution Control Plant Expansion • Adds an additional 3.3 million gallons per day (mgd) capacity for a total capacity of 10 mgd • Rehabilitates and modernizes the existing facility • Construction contract awarded July 19 • Current Budget – $25,442,000 • $4,560,524 available in Capital Reserves • $1.1 million in design costs already paid • $20 million planned loan at a 2.22% interest

  37. Current Purchase Water Capacities • Southern Pines 1,000,000 GPD • Aberdeen 600,000 GPD • Chatham 300,000 GPD • Harnett 2,000,000 GPD • Current pipe capacity is1,120,000GPD • Robbins 100,000 GPD _____________ Total Current Water Cap. 4,000,000 GPD

  38. Additional Water Purchase Contracts Under Consideration • Chatham County • Harnett County • Lee County • Montgomery County • Randolph County (Asheboro) • Robbins • Scotland County (Laurinburg)

  39. Existing Water Sources

  40. Existing Water Sources

  41. Existing Population & Average Day Water Demand

  42. Existing Population & Average Day Water Demand

  43. Maximum Day Water Demand Max day demand is approximately two times average day demand.

  44. Maximum Day Water Demand

  45. Heart of North Carolina MegaPark  A joint Project of Moore and Montgomery Counties

  46. Heart of NC MegaParkVision • Long-term regional economic impact • Strategic central location • Large land tract • Landowners’ support • Joint collaboration between counties • Eco-friendly development • Quality of life amenities

  47. Heart of NC MegaParkRegional Economic Impact • 60 Minute Drive Time • 2010 Population – 646,251 • 2010 Civilian Labor Force – 317,875 Source: Site to Do Business, www.stdbonline.com

  48. Heart of NC MegaParkStrategic Central Location  Easy access to East Coast markets  Geographic Center of North Carolina

  49. Winston-Salem  Greensboro   Raleigh    Charlotte Pinehurst/Southern Pines Fayetteville  Rockingham  Heart of NC MegaParkDistances to Selected Cities

  50. Montgomery Moore US 220 NC 24/27 Heart of NC MegaPark

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