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Cary Town Council Adopts Fiscal Year Budget, Establishes First BID

Both budget and BID continue Cary’s high quality of life without raising taxes

Post Date:06/28/2012

CARY, NC – At their regular meeting tonight, the Cary Town Council left the Town Manager’s recommended budget relatively unchanged as they adopted a $233 million work and management plan that holds the property tax rate unchanged for the 22nd year at 33 cents per $100 valuation and the residential garbage, recycling and yard waste fees the same at $14 per month. With a strict focus on maintaining current service levels, the new budget is just 5.2 percent higher than the current fiscal year’s budget and includes a six percent rise in utility rates to help pay for the community’s share of the State-mandated Western Wake Regional Wastewater Management Facilities. Fiscal Year 2013 runs from July 1, 2012 to June 30, 2013.

Also at tonight’s meeting the Council established the Town’s first Business Improvement District (BID), an area in the center of downtown that extends out approximately one-quarter of a mile. The BID is designed to spur private redevelopment by having the Town, not property owners, pay for required development fees for a three-year period, July 1, 2012-June 30, 2015; the tax rate inside the
BID is remaining the same as that of the rest of the town.

“This budget and our new BID are responsible, forward-thinking decisions right for our community at this point in the long, slow recovery from the devastating recession that’s gripped the entire nation,” said Cary Mayor Harold Weinbrecht. 

As for the newly adopted Fiscal Year 2013 budget, the $48.4 million capital plan includes $1.3 million for continued downtown improvements, $2 million for street resurfacing, $1.1 million for the New Hope Church Trailhead Park and $3.7 million for developing Crabtree Creek Greenway. Included in the Council approved changes to the Manager’s Recommended Budget, an additional $600,000 of federal grant funding has been incorporated as part of the Morrisville Parkway Interchange Project. No new debt will be incurred for general capital projects; of the 49 capital projects in the coming year’s budget, over half are funded fully or partially by Federal grants or State collected local revenues.

Tonight’s adopted budget also features the addition of seven new positions, including one detective, one transit planner and one Downtown Theater facility supervisor to be hired in 2013 prior to the facility’s opening. Four other positions are utility-related positions, three of which are in preparation of the fall 2014 opening of the Western Wake Regional Wastewater Management Facility. Two positions—detective and transit planner—are funded at or near 100 percent by Federal and State grants. With these seven positions, Cary’s staff amounts to nearly 1,168, or nearly the same as it was four years ago, even though over 10,000 people have moved to and required services from Cary since then.

Weinbrecht said that during this fall’s November general election, Cary citizens will have the opportunity to decide whether to move forward with additional fire, transportation, and parks projects that were not able to be afforded in tonight’s adopted budget.  “It will be up to our citizens to tell us through their vote whether to move ahead in the next three to five years with the Cary Community Investment Bonds projects.”

This year’s budget process opened to the public in February with the month-long opportunity to share budget priorities. The Town Council held two budget work sessions to review and discuss the budget as well as public hearings at each of its regular Council meetings on May 24 and June 14.  North Carolina Law requires local governments to adopt a balanced budget by June 30 since the new fiscal year starts July 1.

While the Cary Town Manager’s proposed budget and list of adopted changes are already available online, the complete adopted budget is expected to be available by the end of August at www.townofcary.org. Printed copies of the final adopted budget are expected to be available by the end of September 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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PRIMARY CONTACTS:  
Scott Fogleman, Budget Director, (919) 462-3911
Ed Gawf, Downtown Development Manager, (919) 462-3870
Deanna Boone, Deputy Public Information Officer, (919) 462-3908
Susan Moran, Public Information Officer, (919) 460-4951

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