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FY2024 Budget Overview

1. Total Budget
   • Total budget totals $56,015,309 for fiscal year 2024 (July 1^st, 2023 to June 30^th, 2024). This is a 26.35% increase from the previous year ($44,332,767). 
2. Equalized Real Estate Tax Rate
   • Reduced from $0.51 per $100 valuation to $0.38 per $100 valuation in consideration of the 2023 real estate reassessment. 
   • Real estate book values increased from $1.327 billion to $1.825 billion (37% increase). 
   • Real estate tax levies total 101% of previous year’s levies. 
3. Correction to Real Estate Tax Rate
   • The real estate tax rate for mobile homes classified as real estate and public service real estate was adjusted from $0.51 per $100 evaluation to $0.38 per $100 valuation as required by State Code.
   • Change in projected tax revenue of -$66,983 as well as expenditures.
4. Reduction in Community Development Budget Request
   • Community development has reevaluated account 4-100-081100-3160 from $75,000 to $25,000 or a $50,000 reduction in request. 
5. Personal Property Tax Rate Readjustment
   • Adjusted from $2.91 per $100 valuation to $4.15 per $100 valuation.
   • A 15% reduction will be applied at the time of billing to automobiles only for the 2023 tax year. 
6. Use of Surplus
   • Any surplus in the General Fund budget will be distributed to the following departments/organizations:
     1. ACPS – up to $43,000
     2. The remaining balance will be divided equally between the Sheriff, Public Works, and Parks & Recreation 
   • Current Surplus is running at $89,369:
     1. ACPS - $43,000
     2. Sheriff - $15,456
     3. Public Works - $15,456
     4. Parks and Recreation - $15,457
7. Reduction to ACPS Request
   • The original request totaled $26.5 million, a 16% increase from the previous year. 
   • Original local contribution request totaled $8.475 million, a 14% increase from the previous year. 
   • BOS adopted a reduction of $1.432 million to budget request (5% of total request). 
   • Total budget request after adopted reduction totals $25.1 million, a 9.86% increase from the previous year. 
   • Total local contribution after the adopted reduction totals $7.043 million, a 5% decrease from the previous year. 
8. Reduction to Sheriff Request
   • The original request totaled $5.123 million, a 34% increase from the previous year.
   • BOS adopted a reduction of $601,288 to budget request (12% of total request). 
   • Total budget request after adopted reduction totals $4.522 million, an 18% increase from the previous year. 
9. Reduction to Piedmont Regional Jail Authority Request
   • The original request totaled $1.282 million, a 54% increase from the previous year.
   • BOS adopted a reduction of $250,000 to budget request (19% of total request). 
   • The total budget request after the adopted reduction totals $1.032 million, a 24% increase from the previous year.
10. Use of Fund Balance
    • The total budget is balanced with the use of fund balance transfer(s).
11. Expenditure Breakdown
    • Of the total budget, the following account for:
      1. Departments – 26%
      2. DSS – 6%
      3. Non-Department – 2%
      4. ACPS – 45%
      5. CIP – 21%
      6. Sanitary District – 2%
12. Educational Spending
    • Of the total budget, $33,689,527 has been approved exclusively for educational purposes (60.14%). In other words, for every approved dollar, roughly $0.60 has been approved for education related expenditures:
      1. General Fund Debt Service for ACPS: $488,986
      2. ACPS total budget: $25,100,541
      3. CIP: $8,100,000