In accordance with the provisions of the NC General Statutes, the City Manager’s 2019-20 Proposed Budget was presented to the City Council on May 6,2019. The City Council duly advertised and conducted a public hearing on May 20, 2019.
The City Council held two budget work sessions on May 22-23, 2019. From these work sessions, several recommendations were made by Council and were presented as a balanced budget on June 3, 2019 in their regularly scheduled meeting.
After discussion, the Council approved on a 5-3 vote to approve the 2019-2020 operating budget with the following changes from the original Manager’s proposed budget.
- Property Tax rate increase of 6.67 cents per $100 valuation (from $0.4811 to $0.5478 per $100 valuation)
- Nearly $845,000 for Economic Development opportunities (from nearly $635,000 as originally proposed)
- One cent of tax rate towards pay increase for General Fund City Employees in the form of a one-time bonus. Enterprise Funds will match the methodology.
- General Fund capital expenditures are funded at $2,608,309. Council eliminated the straight purchase of 4 Sanitation trucks, reducing expenditures by $936,000.
- Increase of $400,000 in Contingency to mitigate the potential purchase and/or major repair to Sanitation trucks.
- Increase of $203,000 for debt service expenditure for the lease purchase of a new ladder truck for the Fire Dept.
- Multiple operating cuts and corrections that resulted in nearly $105,000 of expenditure reductions
Other highlights from the Budget include:
- Continued funding for a career development program for Public Safety employees
- No change to Electric Rates
- 3.0% Increase to Water rates
- 3.5% Increase to Sewer rates
- Introduction of Stormwater Rate to begin July 1, 2019