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OUR WORKSHOP AND AS THIS IS BEING, UM, LIVESTREAM.
SO WELCOME EVERYONE WHO'S WATCHING FROM HOME.
THIS IS OUR FIRST OF TWO WORKSHOPS FOR THE BUDGET.
UM, SO WE WILL START BY CALLING THIS ORDER AND IF ANYONE WOULD LIKE TO SAY THIS ABILITY PLEDGE WITH ME, FEEL FREE.
WE PLEDGE TO BUILD A STRONGER AND MORE PROSPEROUS COMMUNITY BY ADVOCATING FOR CIVIL ENGAGEMENT, RESPECTING OTHERS AND VIEWPOINTS AND FINDING SOLUTIONS FOR THE BETTERMENT OF THE TOWN OF LIFE.
WE HAVE PUBLIC COMMENT THAT ARE PERTAINING TO ONLY AGENDA ITEMS. ANYTHING, NO PUBLIC COMMENT.
WE'RE DOING THE FOUR FUNDS, AN OVERVIEW AND WE START WITH THE GENERAL FUND.
GOOD EVENING MR. I JUST HEARD SOMEONE HAS TO BE DONE BY SIX 30, SO WE'RE ON A SIX LEAVING IT.
IF YOU'RE TRYING TO KEEP UP WITH LARRY'S RECORD, LARRY WOULD HAVE A COPY RECORD.
I THINK WE CAN A LOT MINUTE
GET MY STUFF OUT THE WAY IN CASE I NEED TO MAKE NOTES.
UH, ALL GOOD EVENING, MAYOR AND COUNSEL.
UM, AS YOU KNOW, THIS IS OUR FIRST TOWN COUNCIL, UM, BUDGET WORKSHOP FOR THE BUDGET YEAR TW UH, 2324.
UM, WE WILL HAVE ANOTHER ONE ON TUESDAY, MAY THE 30TH, WHICH IS THE DAY AFTER MEMORIAL DAY.
SO, UM, WE'LL BE BACK IN HERE AND WE'LL GO OVER C I P AND WE'LL ALSO HAVE THE DMO HERE AS WELL TO TALK ABOUT THEIR UH, NEXT YEAR'S EXPENDITURES.
SO SIMILAR TO WHAT I DID DURING THE FIRST READING OF THE BUDGET, I'M GONNA GO THROUGH SOME OF THE ECONOMIC FACTORS OR BUDGET GOALS, GO OVER THE BUDGET AND I'LL GO A LITTLE MORE DETAIL THAN I DID BY UM, DEPARTMENT AND STUFF.
UM, AND AGAIN, IF YOU HAVE ANY QUESTIONS, PLEASE FEEL FREE TO JUST STOP ME AND LET ME KNOW AS WE GO THROUGH.
I KNOW WE WENT THROUGH SEVERAL OF 'EM DURING THE FIRST UH, READING, SO I THINK WE GOT SOME OUT THE WAY, BUT WE CAN ADDRESS ANYTHING ELSE THAT COMES UP.
SO AGAIN, TO TALK ABOUT THE ECONOMIC FACTORS, THESE ARE JUST AN OVERVIEW.
UM, GIVES YOU OUR PER CAPITA MEDIAN FAMILY AND WE ALSO ADDED IN OUR AREA MEDIAN INCOME THIS YEAR.
SO WE CAN HAVE THAT TO TRACK AND KEEP UP WITH AS WE MOVE FORWARD, AS WELL AS OUR MEDIAN HOUSING COST AND UM, UNEMPLOYMENT RATE TO COMPARE FOR THE COUNTY AND THE STATE.
SO WENT OVER THIS LAST TIME, BUT JUST TO REITERATE, THESE ARE SOME OF OUR ECONOMIC DRIVERS.
YOU CAN SEE HOW THEY'VE CHANGED OVER THE LAST YEAR WITH HEALTHCARE AND EDUCATION GOING DOWN A LITTLE BIT.
ACCOMMODATIONS, FOOD AND ENTERTAINMENT GOING UP ABOUT 3%.
RETAIL GOING DOWN ABOUT A PERCENT AND A HALF.
PROFESSIONAL SCIENTIFIC AND MANAGEMENT STAYING PRETTY LEVEL AND THEN CONSTRUCTION ACTUALLY GOING DOWN CLOSE TO ABOUT 3% FROM LAST YEAR.
UM, I JUST REMEMBER THESE ARE PERCENTAGES, THESE ARE NOT ACTUAL NUMBERS.
SO IF WE HAD MORE JOBS CREATED AND ACCOMMODATIONS, FOOD, ENTERTAINMENT AND CONSTRUCTION STAY THE SAME, THEN THAT NUMBER IS STILL GONNA GO DOWN.
IT DOESN'T NECESSARILY MEAN JOBS OF LOSS, IT JUST MEANS IT'S NOW A LESSER PERCENTAGE OF OUR OVER OVERALL ECONOMY.
SO WE HAVE NOT HEARD YET AS FAR AS I KNOW FOR ABOUT OUR CREDIT RATING REVIEW, BUT SO RIGHT NOW WE ARE STILL THE SAME.
WE'RE HAVE EXCELLENT CREDIT POSITION WITH AA PLUS FOR STANDARD AND POOR AND UH, AA ONE FOR UH, MOODY.
WE ARE STILL HOPING TO HAVE THAT BY THE TIME WE DO SECOND BUD BUDGET READING IN JUNE AND KNOW WHETHER WE'LL STAY THE SAME OR WHETHER WE MAKE AN OPPORTUNITY TO MOVE HIGHER IN OUR CREDIT RATING.
SO AGAIN, THE GOAL OF THE BUDGET IS TO CONTINUE TO DELIVER ON THE STRATEGIC PLANS, UH, UM, PRIORITIES AND OUR MISSION AND VISION OF THE TOWN THAT COUNCIL HAS ESTABLISHED THAT WE REVIEW ANNUALLY AND THAT WE SET, UM, REALLY EVERY TWO YEARS TO WORK TOWARDS.
WE MAKE SURE OUR BUDGET REFLECTS THAT.
SO WE, THIS BUDGET REFLECTS GROWTH MANAGEMENT, WHICH IS AFFORDABLE HOUSING, LONG RANGE PLANNING, UM, AND ALSO WORKING UPDATES.
SOME OF OUR MASTER PLANS, AS YOU KNOW, WE'VE STARTED OUR BUCK ISLAND SIMMONS COMMUNITY AND ONCE WE GET THAT ONE ADOPTED, WE'LL DECIDE WHETHER WE WANNA MOVE GOY SCHULTZ OR AN OLD TOWN OR WHERE WE MAY NEED TO GO NEXT FOR OUR, UH, UPDATING OUR PLANS ALSO WITH WATERSHED AND RESILIENCY, UM, MAY RIVER ACTION PLAN, OUR REGIONAL PARTNERSHIPS AND PROTECTION OF THAT AND AS WELL WORKING TO GET A LOT OF OUR CAPITAL PROJECTS MOVING FORWARD AND TRYING TO GET THEM, UM, COMPLETED.
SO THERE'S QUITE A LIST OF THEM THERE THAT WE'RE, UH, CONTINUING TO WORK ON AND WE'LL CONTINUE INTO 2324.
SO WE'RE GONNA GO THROUGH AN OVERVIEW OF THE FUNDS.
AS THE MAYOR SAID, WE'RE GONNA TALK ABOUT SET OF FOUR NOW IT'S FIVE
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BECAUSE WE ADDED THE SPECIAL REVENUE FUND THIS YEAR, WHICH IS OUR HOSPITALITY AND LOCAL ACCOMMODATIONS.BECAUSE OF THE INCREASE WE'VE HAD IN THEM, THEY'VE BECOME MORE MAJOR FUNDS VERSUS JUST, UH, SECONDARY FUNDS.
SO BEFORE WE GET INTO THE GENERAL FUND, WE'LL DO OUR OVERALL CONSOLIDATED BUDGET TO SHOW YOU WHERE THE TOTAL BUDGET FOR THE YEAR IS.
AND YOU CAN SEE FOR FISCAL YEAR 24, IT'S PROPOSED TO BE ABOUT JUST SHORT OF $78 MILLION.
UM, LAST YEAR THE TOTAL CONSOLIDATED BUDGET WAS ABOUT 73 A LITTLE OVER.
UM, I WILL POINT OUT AGAIN LIKE I DID LAST TIME, IF YOU LOOK IN SPECIAL REVENUE FUNDS FOR FISCAL YEAR 23, THERE IS ZERO CUZ WE DIDN'T ACCOUNT FOR THOSE LAST YEAR AND IN THIS YEAR THERE'S A LITTLE OVER 9 MILLION.
SO EVEN THOUGH THE TOTAL CONSOLIDATED BUDGET IS UP, ABOUT FOUR AND A HALF, 9 MILLION IS IN SPECIAL REVENUE.
SO IF YOU TAKE OUT THE SPECIAL REVENUE, WE WOULD BE DOWN ABOUT FOUR AND A HALF MILLION OVER WHERE WE WERE LAST YEAR.
JUST WANTED TO POINT THAT OUT SO THAT CUZ WE'RE NOT REALLY LOOKING AT APPLES TO APPLES OVER FISCAL YEAR 23 AND 24 BECAUSE OF THE NEW FUNDS THAT WE'RE ACCOUNTING FOR IN OUR CONSOLIDATED BUDGET.
SO A FEW HIGHLIGHTS, UM, RECOGNIZES A LITTLE BIT OF SLOWDOWN THAT WE'VE HAD IN CONSTRUCTION AND PERMITS OVER THE LAST YEAR.
UM, IT DOES RECOMMEND TO KEEP OUR PROPERTY TAX MILLAGE THE SAME AT 38 AND A HALF MILLS.
THAT INCLUDES OUR, UM, AORM AND AS WELL AS OUR DEBT MILL.
UM, THIS IS PENDING REASSESSMENT, WHICH IS GOING ON AT THE COUNTY RIGHT NOW.
SO ONCE WE GET AN IDEA OF WHAT REASSESSMENT WILL DO, WE'LL COME BACK TO COUNCIL TO DISCUSS WHAT THAT, HOW THAT MAY AFFECT OUR MILLAGE RATE.
UM, AGAIN, FOCUS ON TOWN COUNCIL'S PRIORITY PROGRAMS, AFFORDABLE HOUSING, HISTORIC PRESERVATION, QUALITY OF LIFE, AND AS WELL AS DOING COMMUNITY OUTREACH AND CELEBRATIONS.
IT DOES WORK TO CONTINUE TO GROW OUR PAY FOR OUR EMPLOYEES.
YOU KNOW, WE DID OUR CLASS IN COMP LAST YEAR, WHICH GAVE ABOUT AN AVERAGE OF A AROUND 7% FOR ALL EMPLOYEES AND WE DID A 2% MERIT IN JANUARY.
SO THAT WAS ABOUT A 9% IN THE CURRENT BUDGET YEAR WE'RE IN FOR NEXT YEAR, WE'RE LOOKING TO DO A 2% COST OF LIVING, WHICH WILL BUMP EVERYBODY'S PAY AS WELL AS THE PAY BANDS 2%.
AND THAT'S ONE OF THE THINGS THAT'S NEW NOW THAT WE DID THE CLASS AND COMP, ONE OF THE REASONS THAT HIT WAS SO HIGH WAS BECAUSE WE ALWAYS DID MERIT INCREASES.
WE DIDN'T DO ANYTHING TO ADJUST OUR PAY BANDS THROUGHOUT THE YEAR.
SO THIS WILL ADJUST OUR PAY BAND TO TRY TO KEEP UP AS WELL AS HAVE 2% TO ADJUST PEOPLE WITHIN OUR PAY BANDS.
SO WE'LL RECOGNIZE THE GROWTH AND THEN WE'LL ALSO RECOGNIZE PERFORMANCE.
SO THAT'S A LITTLE SOMETHING DIFFERENT FOR THIS YEAR, BUT IT'LL, IT'LL BE FOR, UM, THE VAST MAJORITY OF OUR EMPLOYEES, A 4% INCREASE.
SO WHEN YOU ADD THAT WITH ABOUT THE 9% THAT WE AVERAGED LAST YEAR, AGAIN, IT'S ABOUT 13% OVER THESE TWO FISCAL YEARS.
TRYING TO KEEP UP WITH THE GROWTH OF COST OF LIVING AS WELL AS INFLATION.
IT ALSO WORKS TO INVEST IN OUR PUBLIC INFRASTRUCTURE.
AS YOU KNOW, WE'VE GOT A LOT OF PROJECTS GOING ON.
I THINK THEY WERE DOWN HERE GETTING STARTED ON, UH, BRIDGE STREETE FOR SEWER.