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Public Hearing on Town Manager's Recommended Budget for FY 2025
PURPOSE: The purpose of this agenda item is to provide an opportunity for the public to comment on the Town Manager's Recommended Budget for FY 2025 as required by G. S. 159-12 (b)
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Department
DEPARTMENT: Town Manager & Finance
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Contact
CONTACT INFORMATION: Patrice Toney, Town Manager, 919-918-7315; Darrell Keyes, Comptroller/Interim Finance Director, 919-918-7301
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Information
INFORMATION: By state law, the Town Manager is required to submit a recommended budget and budget message to the Mayor and Town Council by June 1st of each year. This recommended budget is to be made available for public inspection and the Town Council is required to hold a public hearing on it prior to adoption. The FY 2025 Recommended Budget can be found on the Town's website at the following location:
Financial Documents | Carrboro, NC - Official Website (carrboronc.gov)
The goals for the FY 2025 budget are to include the Council's key priorities of affordable housing, race and equity, environmental protection, and continue to integrate Carrboro Connects throughout the budgeting process.
The Town's annual operating budget represents Carrboro's mission and commitment to enhancing the quality of life of our residents. This budget reflects our dedication to supporting our valuable employees, investing in critical infrastructure, and meeting the immediate needs of our community. We have produced, as best we can, a balanced budget based on revenue projections that are not overly aggressive, nor unduly regressive.
The total budget recommended by the Town Manager is $68.3 million comprised of:
General Fund at $32,685,651
Special Revenue Fund at $8,209,590
Capital Projects Fund at $25,551,937
Enterprises funds total $1.8 million as follows:
Storm Water Utility Enterprise Fund at $1,642,008, and
Parking Enterprise Fund at $216,000.
The General Fund is the Town's operating budget.
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