Zickefoose pointed out that in past few years the City has used revenue from the Fund Balance to help pay for budgeted items in the four City Funds (General, Water & Sewer, Electric, and Powell Bill). This year he is recommending not using the Fund Balance for any of these expenses. The Fund Balance is basically the City’s savings account. He added that the City’s reserve in that account is above the State requirements, it is still less than the average for municipalities statewide. Zickefoose also said that using the Fund Balance in past years has allowed the City to not increase the Property Tax rate since the year 2000.
It was pointed out that due to the recent property revaluation that many City residents will see an increase in the amount that they pay in property tax. Councilman Marty Eaddy commented “that a revenue neutral budget would actually be operating in the ‘red’ because of taking money from the Fund Balance.” Zickefoose agreed.
It was mentioned once more that the public will be allowed to comment on the proposed budget at the June City Council meeting.
In other business:
- The Council approved awarding contracts for chemicals at the Water and wastewater Treatment Plants.
- Recognized the 1018-19 Student Advisory Council.
- Accepted an offer from the Catawba Lands Conservancy to convey 14 acres of land to the City. This will allow the City to potentially create new public amenities, such as additional trails, South Fork River access for canoes and kayaks, benches, litter receptacles, and other passive uses.
With no further business, the Council adjourned.
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