FY23 FULL BUDGET REPORT ADOPTED

Grant and Capital Project Funds with approved project ordinances are on multi-year budget schedules and are not related to the annual operating budget ordinance unless through planned interfund transfer(s) or debt obligation(s).

Outlook

While Parks and Recreation programs and related revenue have continued to illustrate the effect of reduced availability to the public, revenue growth overall remains stable and strong, primarily through very strong sales tax growth compensating for some slower recovering resources Consideration of a solid waste fee remains a viable option to capture additional budget capacity for organizational and community needs while still having one of the lowest cost of services inWake County. Future tax increases may be necessary to provide ongoing resources to support needed human capital and expanding operational expenses inherent in provision of quality core services for a town growing as Morrisville has and continues to do. At a minimum, retention of tax growth from property revaluation scheduled to occur in FY 2024 (FY 2025 tax impact) should be considered. Attention to growth in the limited undeveloped parts of Morrisville remaining will be critical to project future impacts on development fee revenues and real property growth that factors into our natural tax base growth. Short-term and long-range forecasting will be essential to maintaining the stability and low tax rate for Morrisville residents and businesses that call Morrisville home. Our stability is our strength – our long-range vision and planning excellence is our future. I am exceptionally grateful of the support of our department heads and their staff. We had candid discussions during multiple budget preparation meetings to grapple with challenging ourselves to find the best ways to achieve our highest possible outcomes. We started the budget review early this year and have worked together for months to prepare this proposed budget. Our best work always starts within the departments to gain their front-line perspective on ways to get the job done. The proposed budget is a collaborative effort and their ongoing willingness to work together for the betterment of the organization is fundamental to our success. Thank you to Eric Smith, Erin Hudson, Giselle Rodriguez- Villanueva, Lauri Shedlick, Mark Spanioli, Ben Mills, Michele Stegall, Nancy Emslie, Pete Acosta, Randy Little, Rick Ralph, Scott Criddle, Shandy Padgett and Wil Glenn for their important role in the budget development process. Thank you also to Brandon Zuidema, whose insights and observations are always valuable as we explore different perspectives and discuss opportunities we can consider to accomplish our goals. Jeanne Hooks’ leadership in budget management and administration has been further developed and utilized this year as she has formed a strong budget team to expand and enhance attention to our budget throughout the year. The addition of Michael James to our staff as Fiscal Recovery Officer was essential to our in-depth understanding, management and oversight of the American Rescue Plan Act funds that w e will spend over the next several years. Michael’s underlying budget acumen has also enhanced our Acknowledgement

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