TITLE: Title
Adoption of the FY 2023-24 Annual Budget
PURPOSE: The purpose of this agenda item is for the Town Council to adopt the annual budget for fiscal year 2023-24.
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DEPARTMENT: Town Manager
CONTACT INFORMATION: Richard J. White III, Town Manager, 918-7315; Arche McAdoo, Finance Director, 918-7439 Langston Ramseur, Deputy Finance Director, 918-7345
INFORMATION: The North Carolina Local Government Budget and Fiscal Control Act (LGBFCA) requires that the Town Manager submit a recommended budget and budget message to the Mayor and Council; that the Town Council hold a public hearing on the recommended budget; and that the Town Council adopt an annual budget ordinance each year by July 1. The budget must be balanced which is defined by LGBFCA as "the sum of estimated net revenues and appropriated fund balance in each fund shall be equal to appropriations in that fund".
On May 9, 2023 the Town Council held a budget work session where the Town Manager presented and received input on the recommended budget for FY 2023-24. On June 6, 2022, the Town Manager presented to the Town Council a recommended budget for FY2023-24 totaling $81.1 million, and the budget document was filed with the Town Clerk. It has remained available on the Town's website, and in the Town Clerk's Office for public inspection. The notice of its availability was published in the local media. On June 13, 2023, a public hearing was held on the Manager's Recommended Budget.
The goals of the FY 2023-24 budget are to:
* Align the Town Council's adopted 13 strategic priorities;
* Continue addressing employee retention, recruitment and well-being;
* Control costs while maintaining current level of services; and,
* Capital projects, especially renovation of Town Hall.
The Interfaith Council (IFC) and Orange County Partnership to End Homelessness (OCPEH) have requested $95,757 and $69,581, respectively, for services to the homelessness and housing needs. These two reques...
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