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.

FY23 Budget Development

On Monday, May 2nd, the Town Manager presented his recommended budget for 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 needs of our growing community.  

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

Manager's Recommended Budget (FY 2022-2023)

Commissioners kicked off the budget process for fiscal year 2022-2023 by holding their annual planning workshop on February 28 and March 1, 2022.

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)

FY22 Budget 

FY 2021-2022 Budget

Previous Approved Budgets