Vance County Commissioners have held a couple of work sessions to discuss the proposed 2023-24 budget and the community will have a chance to chime in during an upcoming June 5 public hearing before commissioners decide whether to adopt it.
The details of the roughly $57.5 million budget are contained in a 131-page document presented by County Manager Jordan McMillen. This is McMillan’s final budget presentation before he leaves his position later this month to become Butner Town Manager in neighboring Granville County.
The budget calls for no increase in the property tax, holding at 89 cents per $100 valuation, as well as appropriating more than $1.5 million from the General Fund to plug a gap between expected expenses and expected revenues. The proposed budget is 4.5 percent more than the 2022-23 budget.
Among the budget highlights are improvements to the county’s fire tax fund, which will provide 24-hour coverage in the north and south of the county – all with no tax increase.
On the revenue side, property tax is up some $63 million, which translates into more than $600,000 in additional tax revenue for the county.
Sales tax continues to be the big leader, with expected revenues projected at close to $2 million more than last year. Sales tax is the second largest source of revenue for the county at 21 percent.
Among the budget’s line items are funding for broadband expansion and the economic development strategic plan, as well as preparing for ongoing and increased costs in the areas of community health, education and workforce development training, to name a few.
In all, the county received requests for $7.4 million more than it was able to provide. If all those funding requests were to be granted, it would mean a 25.9 cent tax increase to county residents.
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