FY2021 Budget

unknown changes in revenue forecasts from COVID-19. More importantly, the Town must be able to award an approximate $9 million dollar contract to activate the Morrisville-Carpenter Road project this summer. The Town had originally expected to be able to leverage the available payment due to NCDOT for the McCrimmon Parkway Extension Phase 2 before those funds needed to be paid. The significant delay in timing to commence the Morrisville-Carpenter Road project will not allow that to occur. Careful monitoring of both conditions will be essential to meeting our commitments and obligations during FY 2021. Appropriations of $1,824,900 for FY 2020 from Parkland Payment-in-Lieu (PPIL) were made to support various park projects, resulting in a currently available balance of $3.2 million. The estimated fiscal year-end balance for PPIL is $4.0 million. No appropriation of PPIL is proposed as a part of the FY 2021 budget. Staff estimates approximately $100,000 in PPIL contributions in FY 2021. Until early March, the future outlook was very bright. The onset of a pandemic has disrupted virtually every facet of our everyday lives and of most local government operations. Revenue forecasts that were complete were redone. That may occur again, perhaps several times over the next six months. Expenditures, even those that are considered important and essential, will be scrutinized. Some have already been deferred and others may be authorized but strategically delayed for implementation until more certainty can be obtained about current and future year implications. Building the budget this year has been the most challenging of my career. Yet still, I know we will come out of this stronger. It is essential to remain focused and committed to continuing to build our future capacity, even if perhaps at a slower pace. Further delaying staff and operational needs this year will only exacerbate the ability and difficult decision making for future years. These needs will not go away if we ignore them this year. The proposed FY 2021 budget balances many things… revenue projections, impacts on our businesses and residents who also experience COVID-19 disruptions, desire to for more services and programs, future capital project needs, and the necessity of preserving fund balance to accomplish a significant capital project that has been promised to the community. Revenues may be lower, but service expectations continue with increasing pressure for new needs. As it will take additional resources and people to make things happen, we remain committed to delivering quality desirable services to our citizens. We are strong. We are healthy. We are resilient. I am confident and optimistic about our fiscal health and the agility to deliver on the goals and priorities that underpin the framework of this proposed budget. We may need to recognize what I hope is a short-term detour in some plans and preparation but not a wholesale change in direction of the major plans and opportunities envisioned for Morrisville. Future Outlook

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