Rutherfordton Releases FY21 Managers Recommended Budget

The managers recommended budget for the fiscal year beginning July 1, 2020, and ending June 30, 2021, was formally presented to the Rutherfordton Town Council on May 6, 2020, in accordance with North Carolina General Statutes. However, in keeping with our desire to have an informed public, the managers recommended budget is available now for public review. The Town operating budget represents more than the allocation of funds to the Town’s operations, it sets the tone for the goals, visions, and priorities of our community.

 

Over the course of the past 5 years, the Town has made proactive steps to invest in ways to improve our community. Creating partnerships, investing in capital, improving efficiencies, and setting clear goals. The Town has also made strides to wisely save funds in its reserves to ease the burden of fiscal impacts. In recent months however, we have seen a sharp decline in the economy due to COVID-19. Major revenue streams have seen decreases and are forecasted to take double-digit declines. This reverses a trend of steady growth averaging 2% year over year for the past 4 years. This drastic turn will impact the Town’s budget in Fiscal 2021 but will not hamper our core services. The Town has made drastic business moves to ensure our long-term stability. These measures include reducing staff, reducing capital spending, cutting operations in service correct areas, and strengthening our remaining team. The Town is also carrying forward on projects that improve our long term position and that are fully funded, projects like Kiwanis Park, sewer service to the RS Middle School, updating the Comprehensive Plan and Unified Development Ordinance and the Purple Martin Greenway. This budget keeps the tax rate the same as the previous year & does not increase or propose any new fees. “I encourage all citizens to review the budget and to read the Managers Message, which clearly describes the budget and provides an insight into the numbers and priorities moving forward said Doug Barrick, Town Manager.

 

The proposed budget is available for public review on the Town of Rutherfordton website at www.rutherfordton.net or in person at either Town Hall. A public hearing will be held on June 3, 2020, however, citizens are encouraged to review the proposed budget and submit comments to the Town Manager. The Town of Rutherfordton provides service forged at the highest standard from all departments and that quality standard is rooted in the financial stability of our budget process.

FY 21 Budget Document 
FY 21 Managers Recommneded Budget Presentation _Page_6
FY 21 Managers Recommneded Budget Presentation _Page_8