FY2018 Recommended Budget

BUDGET OVERVIEW

The total operating budget for Fiscal Year 2018 is $34,964,000 for the following annually adopted funds:

General Fund

$ 34,030,000

Stormwater Fund

$ 934,000

The General Fund includes three capital reserve funds: Fire Apparatus, CIP, and Roadway and Transportation Funds. The proposed Fiscal Year 2018 General Fund Budget reflects an approximate 1.5% increase as compared to the current amended Fiscal Year 2017 budget of $34,494,000. Growth in the operating budget over the last ten years budget is predominantly related to expanded infrastructure, most notably streets and greenways, and the subsequent repairs and maintenance for those assets, development services support, and increased public safety service demands that a community of now more than 25,000 people need and expect. The Town of Morrisville is a destination of choice and provides for the most significant priorities identified by the people who live and work here. The budget has been balanced with no change in the $0.39 tax rate originally adopted for Fiscal Year 2017. Of the $0.39 tax rate, one cent ($0.01) of the tax rate, or $460,000, is allocated to the Roadway and Transportation Capital Reserve Fund for use on projects as identified by Town Council. Revenues are reflective collectively of the increased assessed property value from the natural growth in tax base and from stable revenues in other categories. Real revenue growth (from sources other than transfers and carryover items) approximates 6% as compared to the prior year original budget.

In addition to the appropriation to the Roadway and Transportation Capital Reserve Fund, the following allocations are recommended in three categories:

 Proactive Road Maintenance: This allocation aids in accelerating the ability to address road maintenance needs before deterioration of the roads becomes more costly. Allocation of these funds since Fiscal Year 2016 have helped lessen higher costs from deteriorating roads.

 Capital Investment Program Reserve: Implemented with the Fiscal Year 2017 budget, this allocation facilitates investment in future CIP projects.

 Sidewalks/Pedestrian Enhancements:

The Town has contributed significant resources toward several sidewalk projects, including the Church Street Walking Loop, Upper Church Street (a CDBG Project), NC54 between Keybridge Drive and the Oaks at Weston, and Cary Parkway. All projects are underway and nearing completion. In addition, the Fiscal Year 2017 operating budget includes appropriations for pedestrian safety enhancements for Morrisville Carpenter Road Streetlights (a project also underway) and carryover funds for a pedestrian crossing at McCrimmon Parkway. During Fiscal Year 2017, Town Council elected to defer decisions on how to spend sidewalk/pedestrian enhancement allocations until the completion of the projects in progress. The proposed Fiscal Year 2018 operating budget recommends continued allocation toward sidewalks and pedestrian enhancements, and, along with unencumbered allocations in prior years, establishment of a capital project fund for Sidewalks/Pedestrian Enhancements. This capital project fund would affirm the commitment of Town Council to address sidewalk segment gaps, and to devote resources to design projects as well as for the Town cost share for state road sidewalk project commitments that will be required in future budget years.

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