Current Budget

Budget Highlights for Fiscal Year 2016-17

FY17 Budget Cover

The fiscal year 2016-17 budget was approved at the June 7, 2016 meeting of the Town Council. Here are the highlights:

  • Total Budget: $102,637,126 (includes Water & Sewer and Electric Utilities funds)
  • Tax Rate: $0.38 per $100 of valuation (While this rate is 1 cent lower than the current rate of $0.39, it is about 2 cents higher than the revenue neutral rate of $0.36. See pg 8 of budget document for more details)
  • New estimated total tax base of $5,958,438,000.  
  • No increases in water, sewer, or electric utility rates.
  • The monthly cost for residential garbage and recycling will decrease by $1.05 cents.
  • The monthly cost for yard waste collection has not been adjusted since 2008, and will increase by $2.85.
  • 17 new employee positions, including 3 Firefighters, a Traffic Engineering Analyst and 5 positions in the Police Department
  • Merit pay budgeted at an average 3.75% increase, dependent on performance
  • Adjustments to Development Fees that will help us keep pace with increased service costs

Major Projects

Street Resurfacing and Repair: $1,000,000
  • Several areas in town, including Dogwood Acres, Pearson Farms, Perry Farms, and N. Salem (see Transportation Projects page for full list)
Park & Greenway Improvements: $667,927
  • Reconstructing tennis courts at Apex Elementary School
  • Adding restroom facility to Salem Pond Park
  • Design work for Beaver Creek and Middle Creek Greenways
Vehicle Replacements/Additions: $1,875,499
  • Fire Engine Replacement
  • Yard Waste Vacuum truck replacement
  • Patrol cars
  • Vehicle replacements among several departments for vehicles with high mileage or under frequent repair
Water/Sewer System Capital Improvements: $1,655,000
  • Downtown water upgrades - improved water conservation and water quality
  • Wester Pressure Zone, Phase 1 - decreases high water pressures in western part of town
  • Commerce Street sewer upgrade - decreases maintenance improves reliability of sewer line