NEWS

Commissioners Fay, Stauffer, Michael, Brandon, Mayor Knox, and Commissioner Justus at a prior meeting.

DAVIDSON, NC – The Board of Commissioners approved the Fiscal Year 2025 Budget at their June 11, 2024, public meeting. All materials associated with the approved budget can be found at www.townofdavidson.org/budget. This budget was built upon the Board of Commissioners’ priorities as identified in the Town of Davidson Strategic Plan 2024-2025. The seven goal areas from the Strategic Plan are: A Healthy, Livable and Vibrant Community; Historic Preservation; Connecting People and Places, Affordable Living, Equity, and Inclusion; Sustainability and Natural Assets; Economic Development; and Operational Excellence. Town staff is greatly appreciative of the Board’s leadership in identifying priorities on which the Town should focus. This proposed budget provides resources for each of the goals and the accompanying priority initiatives.

The Town has again positioned itself well through solid financial management with a balanced and responsible budget that plans for the Town’s future.

Highlights of the approved budget:

• The newly approved tax rate to fund the Board’s Strategic Plan priorities, continue Town services and maintain operations remains at 26.6 cents per one hundred dollars of valuation.

• Investment in Town staff is critical to our success and ability to provide services. Funding is included for an inflationary adjustment and merit pay increases for employees to stay competitive with recruitment and retention in a competitive labor market.

Along with the operating budget, the Capital Improvement Plan (CIP) has also been updated and approved. Completed every year, the CIP looks five years ahead at various large scale Town projects such as improvements to parks, greenways, roadways and strategically plans out how that work might be completed most efficiently. The CIP also provides expected funding sources for the $65.9 million of projects.

Please direct any questions regarding the FY 2025 approved budget to the Finance Department by emailing: [email protected].