CARY TOWN COUNCIL APPROVES $381 MILLION BUDGET FOR FISCAL YEAR 2008

Budget holds line on Cary taxes & solid waste fees, continues investment in parks & streets

CARY, NC – The Town Council adopted a $381 million budget last night that includes $155 million in operations and $226 million in capital projects for Fiscal Year 2008, which runs from July 1, 2007 to June 30, 2008.  The budget includes no property tax or solid waste fee increases, while continuing to invest in utility, street, and park capital improvements including Bartley Park and $1 million for the Town’s open space acquisition program. 

Highlights of the adopted budget include $28.2 million for street improvements and other transportation initiatives, $29.8 million for water projects, $155.4 million for sewer projects, $2.7 million for general government needs, $1.7 million for fire, and $8.3 million for parks including $1 million for open space.

The operating budget includes maintaining the current property tax rate of 42 cents per $100 of valuation and keeping the solid waste collection fee at $11.75 per month as further efficiencies associated with the Town’s automated curbside collection and dual stream recycling programs will occur in FY 2008.  Town staff has also been able to hold the expected rise in Cary utility rates to 4.3 percent—$2.73 more a month for a Cary customer using 7,000 gallons of water.

The adopted budget includes 45.25 new staff members to help maintain existing service levels throughout Cary ’s 53.35 square miles, particularly in the areas of police, inspections, engineering, technology services, public works and utilities, and parks.  This increase in Town staff brings the total to 1,129.375 full time equivalents, or about 9.1 staff members for each 1,000 Cary residents – one of the lowest staff-to-citizen ratios in the state for a large municipality.

“Because we continue to operate under the philosophy that adding personnel is the most expensive, long-term solution to any situation, we work hard to find alternative ways to achieve our goals, only adding staff when it’s absolutely necessary,” said Coleman.

The Town of Cary ’s annual budget is a work and financial plan designed to implement the Town Council’s vision for the community as articulated in the organization’s mission statement and goals and initiatives:

Mission Statement:

At the Town of Cary we focus every day on enriching the lives of our citizens by creating an exceptional environment and providing exemplary services that enable our community to thrive and prosper.

Goals and Initiatives:

• Achieve a well-planned community using innovative and proactive planning approaches and techniques

• Ensure that roads, water and waste water facilities, parks, and other infrastructure exists for the existing citizens and for the future needs identified in the comprehensive plan

• Achieve a stable and strong financial position by accurately estimating, prudently allocating and managing financial resources

• Achieve a high level of service to the citizens in a prompt, reliable, responsive, and cost effective manner

The budget season began in February with a full month dedicated specifically to collecting budget priorities from citizens.  During the spring, the Town Council held four separate budget worksessions to review and discuss the manager’s recommended budget.  In addition, the Town Council held a public hearing at each of its regular Council meetings held on May 24 and June 14.  The changes to the Manager’s recommended budget that the Council approved were listed separately and voted on in conjunction with approval of the entire budget at the regular Council meeting on June 28.  North Carolina law requires local governments to adopt a balanced budget by June 30 since the new fiscal year starts July 1.

While the recommended budget is already on-line, the adopted budget including all changes will be available by the end of July at www.townofcary.org.  Printed copies of the final adopted budget will be available by the end of July for review at Town Hall and at the Cary public library in downtown Cary and at the West Regional Library, 4000 Louis Stephens Drive .

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