Mecklenburg Co. projecting $27 million surplus
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CHARLOTTE -- On the heels of better than expected property and sales tax revenues, Mecklenburg County's finance director is projecting the county will have a surplus of more than $27 million dollars in their next budget.
Finance Director Dena Diorio said the numbers are signs the local economy has rebounded and starting to turn around.
It hasn't been said what county departments and agencies like Charlotte-Mecklenburg Schools could benefit from the surplus.
In two weeks, County Manager Harry Jones will unveil his proposed budget and the proposed property tax rate.
"I think there's a collective sigh of relief, that we've gotten past the point where we were doing mid-year budget reductions that we had to do for two years, so I think there is just a feeling of relief, I think there's a feeling of confidence that things are going to get better," Diorio said.
A portion of the surplus will go into the county's debt service fund, which pays off capital projects like new schools and park facilities.