Public Hearing on 2019-20 Budget set for May 21
Town Manager Kip Padgett presented the Fiscal Year 2019-20 budget to the Board of Commissioners for consideration on Tuesday, May 7. The budget will serve as the Town’s financial and spending plan for the period and, once adopted, will authorize resources and establish a direction for Wake Forest programs and services for the coming year.
The proposed budget includes an unchanged $0.52 tax rate ($0.52 per $100 of assessed property valuation), $0.14 downtown municipal service district tax ($0.14 per $100 assessed property valuation) and no change in electric rates.
The budget, which reflects the goals and strategies outlined in the Town’s strategic plan, proposes six new full-time positions and performance pay or merit funds, plus career ladders for eligible departments.
The public is invited to view a copy of the proposed budget in the town clerk’s office, located in Town Hall, from now until Tuesday, May 21. On that date, a public hearing is scheduled during the regular Board of Commissioners meeting to receive public comment. The meeting begins at 7 p.m. in the Town Hall board chambers, 301 S. Brooks St
Final budget approval by the Board of Commissioners is scheduled for the June 18 meeting.