The Apex Town Council unanimously adopted the Fiscal Year 2025-2026 Annual Budget Ordinance at their May 27th regular meeting, and was among the first two towns in Wake County to adopt a final budget.
“The development of the FY25-26 budget presented challenges like slower revenue growth, continued inflation, and general economic uncertainty,” noted Apex Town Manager Randy Vosburg. “Despite these challenges, the budget process was approached with a clear sense of purpose and an unwavering commitment to serving the people of Apex.”
The Town's population growth has slowed, impacting revenue growth and requiring greater efficiency and prioritization in the budget process. The budget also addresses the ongoing effects of elevated inflation and extended delivery times, particularly in utility departments.
Rates and Fees
The adopted budget includes a property tax increase of 1.6 cents directly tied to the 2021 voter-approved Transportation Bond, bringing the rate to 35.6 cents per $100 of assessed value. This rate was the lowest option presented to Town Council by staff, and balances community feedback and economic considerations while aiming to maintain high-quality services. For the average house value of $600,000 this represents an annual increase of about $96.
As part of the existing service contract with a private hauler, solid waste and recycling fees will increase by 2.5%, resulting in a $0.35 monthly increase for residential customers. The Town’s yard waste collection service, operated in-house, will see no fee changes in FY25-26.
Electric rates include a $1.50 increase in the residential base charge and a 4% increase in the energy charge. The average residential electric bill, using 1,150 kw/month is expected to increase by $6.68 per month. Water and sewer rates include a 4% increase in both base charges and volumetric rates. For an average household using 5,000 gallons per month, this will result in a monthly increase of around $3.22. There are no changes to stormwater fees.
These rate adjustments ensure the Town can continue delivering reliable, cost-effective utility services to residents and businesses.
Investments and Initiatives
The balanced budget totaling $237,313,200 runs from July 1, 2025, through June 30, 2026.
Developed in line with state statutes and the Town's strategic plan, the FY25-26 budget focuses on core services and strategic investments for the growing community.
- Welcoming Community: Initiatives include the Historical Marker Program, new greenway designs, Vision Zero initiatives, crosswalk beacons updates, and neighborhood improvement grants.
- High Performing Government: The budget supports organizational and staff training, 31 additional positions, Peak Lifestyle Wellness Benefit, and enhancements in smart tech, AI, and cybersecurity.
- Environmental Leadership: Key projects include Plant the Peak, wastewater treatment UV system replacement, water quality conservation program, Seagroves Farm Dam repair, and sustainability action plan assessments.
- Responsible Development: The budget encourages equitable and sustainable development with investments in the transit program, affordable housing initiatives, annual sidewalk improvements, pavement and ADA improvements, and the South Salem Street Bicycle Connection.
- Economic Vitality: Investments include gravity sewer extensions, downtown façade grants, electric system expansion, economic development incentives, and Cary-Apex water and sewer projects.
Capital Investments
The Town continues to invest in infrastructure and other capital projects to maintain outstanding services for the community. Significant capital projects include the South Salem Street Bicycle Connection, Wimberly Road Park Design, Fire Warehouse & Storage Building, Downtown Streetscape, Addition/Renovation of Fire Station 3, Fire Engine Pumper, Apex Peakway Widening, and Annual Pavement Management.
Community Feedback
Public participation in the Town’s budget process continues to grow, reflecting the community’s strong interest in shaping local priorities and services. This year saw a 30% increase in participation in the Town’s annual Budget Priorities Survey.
Survey results highlighted Responsible Development and A Welcoming Community as the top priorities among residents. Within these strategic goal areas, the highest-ranked needs included maintaining and improving existing roadways and creating vibrant, accessible downtown community spaces. These community-driven priorities played a significant role in guiding the development of the FY25-26 Budget.
"People are at the heart of every service the town provides, and the budget is no different," said Mayor Jacques K. Gilbert. “The FY 2025-2026 budget reflects priorities set by the Town Council, guided by community feedback and economic conditions. Through sound financial practices and a thoughtful budgeting approach, we are well-positioned to continue delivering high-quality service to Apex residents and ensuring that our town remains a vibrant, welcoming community for years to come."