Public Hearing on 2022-23 budget set for May 17
Town Manager Kip Padgett presented the Fiscal Year 2022-23 budget to the Board of Commissioners for consideration on Tuesday, May 3. Designed to reflect the goals and strategies outlined in the Town’s strategic plan, the budget will serve as the financial and spending plan for the period and, once adopted, authorize resources and establish a direction for Wake Forest programs and services for the coming year.
The proposed budget includes no change in the property tax rate ($0.495 per $100 of assessed property valuation), $0.14 downtown municipal service district tax ($0.14 per $100 assessed property valuation) or residential solid waste fee ($21/month).
It does propose 12 new full-time positions and a 5% salary adjustment/increase for employees earning $65,000/year or less and a 2.5% adjustment/increase for those earning $65,001 or more. The proposed budget also recommends a $5 increase in the vehicle fee from $25 to $30 to fund a three-person streets crew.
The public is invited to view a digital copy of the proposed budget online at https://bit.ly/TOWFBudget from now until Tuesday, May 17. On that date, a public hearing is scheduled during the regular Board of Commissioners meeting to receive public comment. The meeting begins at 6 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 21 meeting. For more information, contact Chief Financial Officer Aileen Staples at email@example.com.