Finance & Budget

Overview

The Finance Department is responsible for establishing and maintaining an accounting and reporting system in accordance with NC General Statutes, federal laws and regulations and generally accepted accounting principles. We manage all aspects of the town’s finances to ensure financial stability and responsible stewardship, adhering to principles of integrity, quality, collaboration, and customer service.

Financial Statements

Monthly financial dashboards summarize cash positions and cash flows, as well as compare revenues and expenditures to current year budget and prior fiscal year.An annual independent audit is performed on the Town’s financial statements for the fiscal year which ends June 30.

Monthly Financial Dashboards

Audit Statement

FY 2016 Financial Statement

Budget

The Town operates under an annual balanced budget ordinance. The annual budget, developed after careful consideration, levies taxes and allocates resources in a manner that effectively reflects the priorities of the governing body.

Property taxes are assessed at a rate which is applied to every $100 of property value.

The Town of Davidson tax rate is $0.35 per $100 of assessed property value. The chart below is based on our FY 2017 approved budget.
Mecklenburg County tax rate is $0.8157 per $100 of assessed property value.
Iredell County tax rate is $0.485 per $100 of assessed property value.

To calculate your tax bill, take the value of your property, divide by 100, and multiply by the corresponding tax rate or rates above.

FY 2017-2018 Budget

Development of a balanced budget is a fundamental responsibility of local government governing bodies -- North Carolina general statutes govern the requirements of the budget development process.

The board of commissioners and town staff work diligently to establish goals and priorities which started at our retreat in January. Those priorities are supported through the budget.

In Davidson, the town manager is the budget officer for the town. His responsibility is to prepare and present the board of commissioners with a proposed budget each year. He works closely with staff to project revenues and expenditures for the upcoming fiscal year.

The first draft of the FY2018 Budget was presented to the Board on April 25, 2017. The presentation and documents from that meeting are linked below. A public hearing will be held on May 9, 2017 for the public to provide input on the budget. The board of commissioners will discuss the budget at the May 9 and 23 board meetings, with the goal of approving the final budget on June 13, 2017.

FY 2017-2018 Budget Documents

FY 2017-2018 Proposed Budget
Budget Summary
Budget Line Item
Budget Need Lists