Cabarrus County FY 2027 Adopted Budget
Five-Year Plan
The county's five-year financial plan.
Introduction
The Five-Year Financial Plan is a forecast of revenues and expenditures beginning with the current year budget (FY26) and continuing for four additional years. Using a five-year planning window helps ensure the county can meet commitments, obligations and anticipated needs in a strategic, fiscally sound manner. The plan includes both operating and capital budgets for the General Fund. The plan assumes the Board of Commissioners will maintain current service levels. Staff also factor economic trends and conditions into assumptions used in developing projected revenues and expenditures.
Revenue Assumption
Property Tax Property tax is the largest revenue source for the General Fund. Assumptions include:
Property valuations increase of
FY27 - 2.35%
FY28 - 2.0%
FY29 - 2.0%
FY30 - 2.0%
FY31 - 2.0%
Tax collection rate of 98.75% for Real Property and 99.5% for Vehicles (DMV) during the five-year period. Sustained tax rate of $0.576 per $100 of assessed value. No sustained recession.
Sales Tax Sales tax is the second largest revenue source for the General Fund. Assumptions include:
Two (2) percent growth for FY27. Two (2) percent growth for remaining years. No contraction or expansion of the tax base. No change to sales tax distribution. No sustained recession.
Other Revenues Assumptions
include:
Intergovernmental Revenue/Grants - zero (0) growth annually.
- Permits & Fees - two (2) percent growth annually.
- Sales & Services - two (2) percent growth annually.
- Investment earnings - zero (0) growth annually.
- Miscellaneous - zero (0) growth annually.
Expenditure Assumption
Major expenditure assumptions include
Five (5) percent increase to salaries and wages annually. Four and half (4.5) percent increase for education expenditures. Four (4) percent increase for Cabarrus Health Alliance Three (3) percent for all other expenditures.
Conclusion
It is important to note revenue projections assume an improving economy. In the absence of such improvement, adjustments will be required to meet community needs.
