- Fiscal Year Budgets
- Fiscal Year 2023-2024
Fiscal Year 2023-2024
The Fiscal Year 2023-2024 budget was approved by a majority of the Board of Commissioners on Monday, June 5. It includes a half-cent tax decrease, bringing the county's property tax rate to 45 cents (from 45.5 cents in FY23).
The recommended budget, which was presented to the board on May 15, can be viewed here . The final budget will be published in the coming weeks.
- Tax decrease & no fee changes: the county-wide tax rate is decreased by half a cent, bringing it to 45 cents per $100 of assessed value; and all fees remain unchanged.
- Investments in public schools: the total funding for public schools across all funding categories – current expense, capital, debt service and pre-k classrooms – is $128.6 million. This meets the school system at their ADM (per-student) request and also funds $10.2 million for school capital needs, which is $6 million over the previous year and will fund a significant amount of the school’s request with the remaining needs funded in subsequent years as their capacity to do the projects allows.
- Use of escrow funds from hospital sale: the budget includes a total of $15.2 million from the county’s Mental and Behavioral Health Fund and Revenue Stabilization Fund to support a continued tax rate decrease that was adopted last year, fund the continued work of the community building plan and fund programs that support the board-adopted Mental Health and Substance Use Disorder Strategic Plan.
- Mental health and substance use disorder initiatives: new initiatives are being introduced in the recommended budget that further the county’s Mental Health and Substance Use Disorder Strategy, utilizing the escrow fund as well as opioid settlement funds. The initiatives focus on education and outreach, access to services and treatment and sustainable recovery and wellbeing. More information about these investments can be viewed here.
- Affordable housing initiatives: furthering the county’s commitment to workforce housing initiatives, the budget includes $3 million in funding for year two of the Board’s 5-year, $15 million Workforce Housing Services Program to help increase the supply of residential units, retain existing affordable housing stock and increase residents’ access to those homes.
- Community building initiatives: investments continue to provide resources to students and families, including the Port City United Connect Center and school-based Community Resource Coordinators (who are trained community health workers), expansion of violence prevention and mediation programs, capacity building for nonprofits, Pre-K expansion, career and technical scholarships and more.
- Capital planning for the future: around $73 million is included for major capital improvements and investments, including renovations for a medical detox and crisis stabilization facility on Robin Hood Road, renovations for the CFCC nursing facility, a new library branch in the Northchase area, Parks improvements, two new fire stations (on Gordon Road and in Castle Hayne) and investments in sewer and water infrastructure in the northern area of the county.
- Nonprofit & economic development investments: Nearly $1.6 million in funding to fulfill 50 non-county agency funding requests, along with more than $1 million in funding to directly support 14 organizations that contribute to growing local job opportunities, business prospects and quality of life across the county. As well as continued investment in the design of Holly Shelter Business Park and infrastructure completion for Blue Clay Business Park.
Meeting Videos & Presentations
View meeting video from the June 5 public hearings and budget adoption below:
View meeting video from the May 15 recommended budget presentation to the Board of Commissioners and the PowerPoint presentation below: