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New Hanover board adopts budget amendments to reflect state funding changes and grant carryover
Summary
The board reviewed a multi-part budget amendment recording federal grant carryover, reducing some state/local supplement assumptions after a rise in county taxable value, and adjusting capital-outlay projections; staff said net impact was roughly a $4.9 million increase restricted across funds.
During agenda review, district finance staff presented a budget amendment that adjusts revenue assumptions and records carryover from federal and restricted grants.
Staff told the board the district no longer qualifies for a state local-supplement subsidy because the county’s adjusted taxable property value exceeded the statutory threshold; that change required reductions in state revenue assumptions. "Our…
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