TOWN OF BOGUE BUDGET ORDINANCE FISCAL YEAR 2025-2026 BE IT ORDAINED by the Town Council of the Town of Bogue, North Carolina: Section 1: The following amounts are hereby appropriated for the operation of the Town government and its activities for the fiscal year beginning July 1, 2025, and ending June 30, 2026, in accordance with the chart of accounts heretofore established for this Town in the General Fund and Powell Bill Fund: Administration $ 165,156 Street Maintenance 181,000 Reserve/Emergency 30,000 $ 376,156 Section 2: It is estimated that the following revenues will be available in the General Fund and Powell Bill Fund for the fiscal year beginning July 1, 2024, and ending June 30, 2025: Property Tax $ 77,000 Registered MV Tax 4,500 Local Sales Tax 18,000 Alcohol Bev Tax 3,100 Franchise Taxes 48,000 Other Revenues 199,556 Powell Bill Funds 26,000 $ 376,156 Section 3: There is hereby levied a tax at the rate of five cents ($.05) per one hundred dollars ($100.00) valuation of property as listed for taxes as of January 1, 2025, for the purpose of raising the revenue listed as current year's property taxes in the General Fund in Section 2 ofthis Ordinance. Page 1 of2 Section 4: The Budget Officer or a designee is hereby authorized to transfer appropriations as contained herein under the following conditions: a. Transfers between line item expenditures within a department without limitation and with a report being required. These changes must not result in increases in recurring obligations such as salaries. b. Transfers up to $1000 between departments, including contingency appropriations, within the same fund. The budget officer must make an official report on such transfers at the next regular meeting of the Town Council. C. All transfers between funds require prior approval by the Town Council in an amendment to the Budget Ordinance. Section 5: Copies of this Budget Ordinance shall be furnished to the Clerk, Town Council, Budget Officer, and Finance Officer to be kept on file by them for their direction in the disbursement of funds. Adopted on this 16th day ofJune, 2025 By a vote of 5 YES 0 NO Rss ROBERT O'CHAT Mayor Attest: Baib BARBARA OWENS Town Clerk OF A SEAL ( à 09/1995 n CRPASS Page 2 of2