Town of Waxhaw Annual Budgets
About the budget process:
The Board of Commissioners is the legislative body for the town. Its role is to adopt laws and ordinances that govern the Town; therefore, The Town of Waxhaw Board of Commissioners adopts the Budget Ordinance each fiscal year for the operating funds. The Town operates with the Council- Manager form of government. Under this form of Government, the Town Manager oversees the day-to-day operations of the Town, including the preparation and administration of the operating budget.
The fiscal year begins July 1, and ends June 30. The Annual Budget Ordinance adopted by the Board sets the tax rate, establishes the fee schedule and approves the operating budget for each fund. The General Fund is the operating fund for the Town.
The General Fund annual budget Ordinance is the legally adopted budget by function as authorized by NC Statute 159-13. The General Fund budget ordinance is adopted by the following functions:
Economic & Community Development
Streets & Transportation
Other Finance Uses (Transfer to Capital Projects)
In order to facilitate operations and delivery of services, the General Fund Budget document also includes the supporting line item budgets by function, these line items are the calculating structure of the functions, but only the functional totals are adopted by the ordinance. The accounts in the General Fund (the main operating fund) are totaled on the detail budget document by function, because that is the legal level at which it was adopted and those totals tie to the total amount shown on the Budget Ordinance. The line items show the account numbers and the specific account budget to be used by the Town Manager and his staff in operating the departments. The adoption of the Budget Ordinance by function authorizes the Manager and his staff to expend up to, but not to exceed the total amounts appropriated for each functional total.
The Budget Ordinance also includes other funds, such as the Cemetery Fund, Powell Bill Fund and Small Transportation Fund. Each fund is for a separate purpose and the revenues and expenditures are not co-mingled, therefore these funds do not provide for the day-to-day operations of the Town.