Yadkinville’s fiscal year budget proposal for 2018-19 was presented to the board with no recommended increases to the property tax rate or water and sewer rates.
The recommended budget totals $4,919,574 for all town operations, capital improvements, and debt service requirements, which represents an overall increase of about $195,201 or four percent from last fiscal year’s adopted budget of $4,724,373.
The general fund contains all governmental services that do not generate sufficient revenue to support their activities, including the police department, administration, planning and zoning, sanitation, streets and highways, garage, etc.
The FY 2018-2019 recommended budget for the general fund totals $2,626,099, which represents an approximate increase of six percent or $141,126 over the 2017-2018 adopted budget of $2,484,973.
This 2018-19 recommended budget proposes no appropriation of fund balance to balance the general fund.
The property tax base is estimated to be $255,539,664, which represents an increase of about 10 percent over FY 2017-2018 and is realistically based on information from the Yadkin County Tax Administrator.
This increase will provide about $1,045,684 in property tax revenues based on an assumed collection rate of 97.43 percent. A penny on the tax rate is projected to generate about $25,000 in revenue. This budget proposes to maintain the current tax rate of $0.42 per $100 valuation.
This budget proposes to maintain the current solid waste fee at $10 per month.
The public hearing on the town’s recommend budget for 2018-19 will be held June 4 at 5:50 p.m. at the town hall.
Also during the meeting, the new Yadkinville Commissioner Richie Parker was sworn in on May 7. Parker was appointed by the board to replace former commissioner Betty Driver, who retired from her position earlier this year.
Town Clerk Shelia Weathers also was given special recognition for Municipal Clerks Week, which was celebrated May 6-12. Mayor Eddie Norman surprised Weathers by reading a special proclamation extending appreciation for the vital services clerks perform and the exemplary dedication Weathers shows to the community she represents.
Kitsey Burns Harrison may be reached at 336-679-2341 or on Twitter and Instagram @RippleReporterK.