During the Tuesday, May 14, Council meeting, Town Manager Mike McLaurin presented the recommended budget for Fiscal Year (FY) 2024-2025. The budget is a statement of the Town’s priorities and a financial plan for funding those priorities. Earlier this year, the Town Council members held two strategic workshops to update the original Town Council priorities developed in 2021. The following six new priorities will help guide the Town through 2027: Public Safety, Transportation, Economic Development, Town Infrastructure, Human Capital, and Capital Improvement Projects.
The recommended FY 2024-2025 budget funds numerous projects and services, laying the foundation for meeting the Town's priorities and the community's needs.
FY 24-25 Recommended Budget Highlights
Funds
- The General Fund is balanced at $23,867,032 using the existing tax rate of 18.5 cents.
- The Powell Bill fund is $2,055,000, and the Stormwater fund is $2,776,204.
- The Capital Reserve/Debt Service is $3,035,327.
Personnel Adjustments
- One Assistant Town Manager position will be effective July 1, 2024.
- One Right-of-way/Channel Maintenance Crew Leader position in the Public Works Department will be effective July 1, 2024.
Additional Highlights
- Continues to fund upgrades to outdated and end-of-life IT and A/V equipment, including upgrades in the three Town Hall community rooms and computers for staff.
- Funds the second year of the ADA Transition Plan.
- Funds Town Hall facility maintenance and security enhancement projects.
- Funds a 3% merit and 3.2% COLA for all full-time Town employees. It also funds an additional 3% for all full-time Town employees, except directors, if the employee Social Security vote passes. If the Social Security vote fails, the Council will vote on a budget amendment in July to reallocate the 3% back to the General Fund.
- Continues work on nearly $40 million of Capital Projects, including transportation and parks and recreation projects.
The Town will hold a public hearing on the recommended budget on Tuesday, May 28, during the regular Council meeting, which begins at 6:30 p.m. at the Indian Trail Town Hall. Residents are encouraged to review the budget and share their input. If you have questions about the budget, please contact Town Manager McLaurin at fmm@indiantrail.org.
Budget Documents
FY 24-25 Recommended Budget
FY 24-25 Budget Presentation Slides
FY 24-25 Budget Presentation Recording (the budget presentation begins at timestamp 1:02:00)