May 21, 2024
Presented by: Allen Cook, Mitchell County Manager

Mitchell County North Carolina Seal

In accordance with North Carolina General Statute 159-11, it is my honor to present the FY 2024-2025 proposed Mitchell County budget to the Board of Commissioners and our esteemed citizens for consideration. This balanced budget is mindful of future growth and has been meticulously crafted to meet the projected needs of all county operations, capital improvements, and statutory requirements.

The proposed budget totals $25,355,627, reflecting a 2.1% decrease from the current fiscal year 2023-2024 amended budget of $25,894,570. This decrease is mainly attributed to the completion of large grant-funded projects in the current year budget.

The proposed 2024-2025 budget is balanced with a tax rate of $0.56 per $100.00 valuation based on the current value of real, personal, and vehicle property. The tax rate remains unchanged from last year. This budget is based on a projected tax collection rate of 97.25%. With the current 2023-24 fiscal year collection rate trending above 97.32%, we feel this budget’s collection rate of 97.25% is both conservative and attainable. Revenues from sales tax are budgeted at $5,141,388, the same as last year. This conservative approach is informed by trending economic data which predicts sales tax revenue to level off. The revenue assumptions in this budget are based on realistic, not optimistic, projections.

The expenditures for Mitchell County remain steady overall in the proposed budget with most expense projections factoring in a three to five percent increase to account for inflation. As Mitchell County grows, expenses will trend up. From a new law enforcement center opening in October to the County operating the tag office, our citizens are being better served. The leadership of Mitchell County has a fiscal duty to manage growth in a responsible manner. As a result, those who receive funds from Mitchell County will be held to high standards of accountability.

The proposed FY 2024-2025 budget is balanced and prepared in accordance with the Local Government Budget and Fiscal Control Act. This budget represents our commitment to building a brighter future for all who call Mitchell County home.

I would like to extend my gratitude to this Board of Commissioners for their diligence and valuable input into this proposed budget. I would also like to thank the Mitchell County Finance Department, consisting of Mavis Parsley, Christy Young, and Allisyn Smith. Their expertise and insight has been essential throughout the budget process.

The charts below provide an overview of the revenues and expenditures in the 2024-25 proposed budget. The full budget will be on display at the Mitchell County Administration office, and a public hearing is scheduled during the regular Commission Meeting on June 3, 2024, at 6:30 p.m. I encourage you to review the budget proposal in detail and provide your valuable feedback.

Thank you for your consideration.

Allen Cook,
Mitchell County Manager

Mitchell County 2024-2025 Projected Budget TOP 5 Projected Revenues (per million dollars)

Revenue Highlights Include: 1). The projected total revenue for the 2024-2025 proposed budget is $25,355,627; 2). Property tax rate remains the same for the 2023-2024 proposed budget at $.56 per $100 valuation; 3). Property tax collection rate is projected at 97.25%; 4). Sales tax revenue is budgeted at last years amount.</p> <p>

Mitchell County 2024-2025 Projected Budget Top 5 Projected Expenses (per million dollars)

Expense Highlights Include: 1). Overall expenses are budgeted to decrease by 2.1%; 2). Most County departments are budgeted in line with past year averages; 3). Outside agencies were budgeted to meet projected growth and special needs; 4). Capital Expenses such as maintenance, building improvements, equipment, vehicle replacement and IT upgrades have been budgeted at fair market estimates; 5). State retirement rates as well as property and liability insurance rates have increased</p> <p>