NHC fund balance sees boost in 2011 | News

NEW HANOVER COUNTY, NC (WECT) - New Hanover County leaders have plenty to consider before planning next year's budget, including new tax values after a recent property revaluation.

County commissioners had to pull roughly $2 million from the county's fund balance last year to even out the current budget.

Now the balance has recovered from that hit and even grown a little more. New Hanover county reports a fund balance of 20.5%, which is up from 18.3%. That increase equates to a nearly $10 million addition.

Vice-chairman of County Commissioner's Jonathan Barfield said it's too soon to know how or when this new money will be used. He did say that it's a nice surprise when so many other counties in the state are reporting decreases to their fund balances.

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