City Council hears proposed 2024-25 budget
The Wilson City Council began its annual budget discussions Thursday night with the presentation of City Manager Grant Goings’ proposed budget. The spending plan is for the fiscal year that begins July 1 and ends June 30, 2025.
Goings noted that the budget presentation is more extensive this year due to the county-wide property revaluation and increasing costs to the electric system. He also said budget communications were prepared with a focus on providing facts and explaining complex information in an understandable manner. The budget presentation, typically delivered only by the city manager, included presentations from several others from the city’s leadership team. Goings mentioned that he wanted the city’s experts in key areas included this year to explain more detail in their area of expertise.
The proposed budget totals $271.9 million, an increase of 2.2 percent from the current budget. The recommended property tax rate is $0.525 per $100 valuation. This is a reduction from the current tax rate and reflects adjustments from the property revaluation. Wilson’s tax rate continues to be one of the lowest in our peer group including Kinston, Goldsboro, Rocky Mount and Greenville.
Goings also noted that most of the budget is not under the discretion of the City Council. For instance, wholesale power costs, which make up 47 percent of the budget, are determined through long-term wholesale contracts.
A full recap of the presentation is available on the city's website, just click the green button below to read more.
Additional Public Meeting Planned
Residents can learn more about the proposed budget at an information session scheduled for Monday, June 17 from 5:30 p.m. until 7 p.m. at 316 Douglas Street. Staff will be available to answer questions one-on-one. This new session was requested by City Council members to help residents understand the impacts of the 2024-45 budget.
Budget public hearing and next steps
The City Council will hold a budget work session during its morning meeting on Thursday, June 6.
The public hearing on the budget will be Thursday, June 20. State law requires the City Council to adopt the 2024-25 budget before July 1.
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