Budget Information

Budget Oversight

 
The Finance Department monitors / oversees budgetary compliance throughout the year in accordance with GS 159 The Local Government Budget and Fiscal Control Act.

Adopted Budget Information (FY 2022-2023)

Building the Town of Fuquay-Varina's annual budget is a collaborative process between the public, departments, administration, and the Town Board. Town Manager Adam Mitchell presented the proposed operating budget to the Town Board and the public on May 2, 2022, and a public hearing was held on June 6, 2022. The Town Board adopted the FY 2023 Budget on June 6, 2022.  It is effective July 1, 2022-June 30, 2023.

Highlights for the FY 2023 Budget

The tax rate included in the operating budget is $0.425 per $100 of assessed property value, including a $.03 increase per $100 of assessed property value. This rate increase has been in the 5-year plan for several years and will be used to pay for Fire Station #4.

The Manager's Recommended Budget advances strategic plan and voter-approved projects, including the Community Center North, numerous transportation projects, Fire Station #4, water and wastewater capacity, and quality of life initiatives.  

The budget reflects a 9.9% increase in base and volumetric water and sewer rates. As a result, the combined monthly bill for an In-Town resident using 5,000 gallons of water will increase by $7.97 per month. The water/sewer town rate supports long-term investment in addressing water and wastewater capacity needs.  

Adopted Budget
This is the Town's first budget document to incorporate all Government Finance Officers Association (GFOA) best practices for state and local transparency in budgeting. These criteria have been developed based on GFOA best practices for budget documents that excel as a policy document, financial plan, operations guide, and communications tools. To this end, the document includes information on the Town's strategic goals and priorities, budget process, long-term financial planning, financial policies, debt and capital programs, department goals and objectives, and performance measures. The budget document identifies not only the services to be provided and funding needed to provide those service but the rationale behind budget decisions so that any resident or reader can better understand the Town's finances and their Town government.

Fee Schedule
This document includes the Adopted Fee Schedule for FY 2023

Five Year Plan
This document includes the five-year plan for FY 2023-2027

Budget Ordinance

FY23 General Fund Expense Graph