TITLE: Title
Public Hearing on Town Manager’s Recommended Budget for FY23
PURPOSE: The purpose of this agenda is to provide an opportunity for the public to comment on the Town Manager’s Recommended Budget for FY23 as required by G. S. 159-12 (b).
body
DEPARTMENT: Town Manager
CONTACT INFORMATION: Richard J. White III, Town Manager, 918-7315; Arche McAdoo, Finance Director, 918-7439; and Cary McNallan, Deputy Finance Director, 918-7301
INFORMATION: On May 24, 2022, the Town Manager presented his recommended budget for Fiscal Year 2022 - 2023. The recommended budget totals $90,498,125 and is comprised of the following: General Fund $27,479,482 (Operating Fund); Capital Projects Fund $50,825,396; Special Revenue Fund $10,968,456; Stormwater Utility Enterprise Fund $1,081,601; and Parking Enterprise Fund $143,190.
North Carolina G.S. 159-12 (a) requires the Town Clerk to have the budget document available for public inspection until the budget ordinance is adopted. The document is also available on the Town’s website at <http://www.ci.carrboro.nc.us/250/Financial-Documents>
The statute also requires the Town Clerk to make a copy of the budget available to all news media in the county and to publish a statement that the budget has been submitted to the governing board and is available for public inspection. The statement must also give notice of the time and place of the budget public hearing.
FISCAL & STAFF IMPACT: Other than the cost to publish the budget statement, there is no fiscal or staff impact associated with this agenda item.
RECOMMENDATION:r The Council is requested to: 1) hold a public hearing and receive comments from the public on the Town Manager’s recommended budget for FY23; and 2) provide directions to the Town Manager for preparation of the final FY23 budget ordinance which is scheduled for adoption on June 21, 2022.