FY2020 Budget

expenditures within existing revenue resources. The proposed budget also recommends commitment of significant resources to activate several key Capital Investment Program (CIP) projects that have been identified as priorities by Town Council, citizens, and through master plan and operational study updates that substantiate these needs. In addition to the balanced budget, two alternative tax rate scenarios are presented for consideration that illustrate additional resources necessary to increase investment in additional human capital and operational resources this year. As Town Council considers both the current and future budget year needs, we anticipate the need to evaluate the most effective way to maximize existing tax revenues for expanding core service needs as the Town’s residents and business community expectations are fulfilled and balanced with the increased costs of providing those services. An evaluation of funding strategies for both the stormwater and solid waste/recycling programs will help inform those decisions for FY 2021 budget preparation. In addition, property revaluation will occur in the upcoming year and influence the level of available resources required to sustain core services and desired enhancements to operations. Town Council continues its discussion of future bond referendums with incremental tax supported debt service to advance larger capital investments that will contribute to a comprehensive short-term and long-term budget development and financial strength. The budget will be formally presented to Town Council and the public at the May 7, 2019, Town Council meeting. Following the initial briefing, there will be a work session to share expanded detail and supporting information for operating and capital investment budget requests. The budget portal will also open on May 7. Discussion of the budget will continue at the May 13 and May 28 meetings, with the Public Hearing being held on May 28. A special work session to complete review of the budget and incorporate Town Council input and recommendations to the budget in advance of a planned June 11, 209 adoption is also scheduled on May 30. Fiscal Year 2019 proposed budget information will be available on the Town’s website to share information about the budget and will be complemented by a social media strategy designed to maximize awareness of the budget and encourage input by our citizens. Staff also plans drop-in meetings to allow the public to review the Budget Snapshot and ask questions. Lastly, A Frequently Asked Questions (FAQ) tool will be utilized throughout deliberations to supplement information included in presentations to provide expanded detail and clarification of budget requests for the Fiscal Year 2020 proposed budget. The Fiscal Year 2020 proposed operating and capital investment program budget are framed in continuing the significant progress visible in the many major projects and initiatives undertaken in the current and past budget years. You need only to drive or walk through Town to see the magnitude of the many projects that are expected to be completed in the near future. Construction crews are visible daily at the Carolina Street Extension at Town Hall Drive and McCrimmon Parkway Extension work sites. The Morrisville- Carpenter Road project will be underway this summer, as coordination and logistics are in progress. The allocation of Town resources to state-owned roads demonstrates Town Council’s commitment to improving transportation mobility as a significant issue expressed by our citizenry due to our proximity to Research Triangle Park and major businesses located in Morrisville. While work on these projects, particularly roadway improvements, takes a long time and causes disruptions while in progress, the long-term benefits are expected to help noticeably with traffic congestion. The Town continues to collaborate with transportation partners to effectively advocate for our transportation needs. BUDGET HIGHLIGHTS:

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