Notice is hereby given that in accordance with the provisions of N.C.G.S. 159-12, the proposed budget for the fiscal
year beginning July 1, 2007, for the Town of Morehead City has been submitted to the Mayor and Council and is available
for public inspection between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, holidays excepted, in the
Town Hall located at 706 Arendell Street.
Notice is hereby given that a public hearing will be held in the Municipal Building Auditorium located at 202 South 8th
Street, Second Floor, on Tuesday, May 29, 2007, beginning at 5:30 p.m., for the purpose of receiving input from citizens
wishing to comment on the proposed budget for FY2007-2008.
The following is a summary of the proposed budget:
General Fund $ 9,965,425
Fire/EMS Service Fund $ 3,285,000
Water/Sewer $ 4,424,284
Sanitation $ 815,000
Water/Sewer Capital Projects $ 915,000
Water/Sewer Capital Reserve [Combined] $ 587,000
TOTAL $19,991,709
The proposed FY2007-2008 Budget recommends a reduction from the current Ad Valorem Tax Rate of $0.38 cents per $100
property valuation to $ 0.22 cents per $100 property valuation. This is $ 0.0136 cents higher than Morehead City’s
calculation of the revenue neutral tax rate of $0.2064 based upon the estimated change in real property values as a
result of revaluation. The total proposed budget reflects an overall decrease in spending of 1.59 % less than the
prior year despite increases in the Water and Wastewater Operating and Capital Funds and in the Fire/EMS Operating
and Capital Fund. The public is invited to be present and make comments. The FY2007-2008 Budget must be approved
by the Morehead City Council prior to July 1, 2007.
Prior to and following the public hearing on the FY2007-2008 Budget, the Council will hold Special Work Sessions as
per G.S. 143.318.12. Work Sessions will be announced as prescribed by law in compliance with the Local Government
Budget & Fiscal Control Act.
R. Randolph “Randy” Martin
Budget Officer