Budgets

Overview

  • The Town Manager annually recommends an annual balanced budget to the Town Board of Commissioners.
  • The annual budget is a funding plan that outlines where revenues will come from and how tax dollars will be spent. 
  • We are required to adopt a new budget every year that details sources of revenues and spending authority. 
  • The Town’s fiscal year runs from July 1 through June 30. 

Adoption

  • The budget process generally begins in January and concludes around June. 
  • By state statute, the budget must be adopted by June 30. 
  • Prior to board adoption, numerous budget workshops are held and a public hearing so that board members may assess public sentiment regarding the annual spending plan.

FY24 Budget Development

Board Planning Retreat Day 1 (January 26, 2023)
Board Planning Retreat Day 2 (January 27, 2023)

FY23 Adopted Budget 

Click HERE to view the FY2022-2023 Budget adopted by Commissioners.

FY23 Budget Development

On Monday, May 2, the Town Manager presented his recommended budget for the Fiscal Year 2022-2023 to Commissioners. This recommended budget is balanced and maintains the current tax rate of $0.24 per $100 of property valuation, the lowest tax rate of the 20 most populous municipalities in North Carolina, and maintains the lowest employee per citizen ratio of the same group. This budget focuses on capital projects and meeting the needs of our growing community.  

Manager's Recommended Budget Presentation to Board (May 2, 2022)
Manager's Recommended Budget (FY 2022-2023)

2/28/22 Board Planning Workshop Slides
3/1/22 Board Planning Workshop Slides
February 2022 CIP and 5-year Financial Forecast (TBD as FY23 budget gets refined)

Previous Approved Budgets