COMMUNITY NEWS

$250 million budget proposed for Concord in FY 2018-19
Friday, June 1, 2018

CONCORD – City Manager Lloyd Payne provided his fiscal year 2018-19 budget recommendation to the Concord Mayor and City Council on Thursday, May 31. The City-wide budget totals $250,896,647 for all funds, including utilities and special revenue funds. The total represents an overall budget increase of 1.8 percent over the FY18 adopted budget. The recommended General Fund budget, where the major funding sources are property and sales tax receipts, is $88,215,189. The property tax rate is recommended to stay at the current 48 cents per 100 dollars of valuation.

"Per Council’s direction, the focus of this budget is maintaining essential services provided to our residents and businesses and fund the essential projects necessary to maintain and improve the quality of life in a growing community," wrote Payne.

As in past years, the proposed budget restricts the equivalent of two cents on the tax rate to supplement State funding for transportation projects, as mandated by City Council.

The recommended Concord property tax rate continues to be among the lowest third of full-service North Carolina municipalities with populations greater than 40,000—and the lowest of those that do not charge solid waste and/or recycling fees. All of these cities whose property tax rates are lower than Concord's charge additional user fees for solid waste collection and/or disposal, and a few make extensive use of General Fund-related impact fees authorized by the State just for their municipalities.

The FY19 budget recommendation allows for service and infrastructure expansions where necessary to meet the demands of growth. The recommendation also includes investments in coworker compensation and benefits to ensure the recruitment and retention of talent to deliver community services.

The City Council held a budget workshop at a special meeting on May 10, where Payne presented an overview of his recommendation and solicited feedback from the Mayor and Council. The Council will discuss the budget at its June 12 work session, and a public hearing is scheduled for Thursday, June 14 during the regular City Council meeting.

Interested individuals can view the City Manager's recommended budget on concordnc.gov and also in print at the City Clerk's office.