Wake County Manager David Cooke presented the County’s fiscal year (FY) 2014 recommended budget to the Board of Commissioners during its regularly scheduled meeting Monday, May 20, 2013.
The $982,800,000 budget holds the property tax rate at 53.4 cents for the fifth year in a row, and focuses on priorities and addressing the greatest needs. The resources continue to be allocated to the highest priority areas: public safety, education, and human services and public health. The recommended budget also funds development related services, which have shown recent growth, such as the Register of Deeds, building inspections and the Revenue Department where seven positions are added to accommodate demand for services.
"Real estate development is showing signs of recovery in new residential building permits with an increase of 60 percent over the same time period from a year ago," said Cooke. "The tax base is also projected to grow at a steady and modest rate of 2.67 percent, more than twice last year's growth rate."
With these improved trends and resulting revenue growth, the County used the same principles to allocate resources that have been used for the last several years:
Focus on core services and priorities;
Realign existing resources to meet priority needs, without raising the property tax rate; and
Maintain the long-term focus.
"As the economic recovery occurs, we find ourselves also in the position of identifying priority service areas that need attention," said Cooke. "We've identified areas where we recommend adding resources to respond to service demands, while not expanding the role of county government."
The total Wake County budget will increase by $44.3 million, or about 4.7 percent, in FY 2014 compared to the previous fiscal year, recommended to be allocated as follows:
Education: $9.2 million
Public Safety: $9.1 million
Human Services and Public Health: $4.8 million
Debt and Capital: $17.4 million
Other County Activities: $8.1 million
The budget process will include public hearings and a Board of Commissioners work session prior to the Board's adoption of the budget. The schedule is as follows:
Monday, June 3, 2013, 2 p.m.
Monday, June 3, 2013, 7 p.m.
The public is also invited to give feedback regarding Wake County’s budget by calling 919-856-5433, emailing firstname.lastname@example.org
or attending and speaking at one of the aforementioned public hearings.