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Town of Morrisville · Town Council
Thursday, March 28, 2024

Regular meeting Budget and appropriationsTax rate and revaluation

Agenda document Watch

What's on this agenda

Morrisville's town council holds a work session on the fiscal year 2025 budget, with no other business on the agenda. Staff present department requests totaling $19 million — $9.5 million in onetime spending and $9.4 million in recurring costs — against a base budget of $43.5 million and $48.5 million in projected base resources.

Staff frame the choice around how far to set the tax rate above the revenue-neutral rate, estimated near 30 cents against a current rate of 39 cents. Three cents above revenue-neutral would raise about $2.9 million and could cover an economic development strategy and technology replacements; five cents, about $4.8 million, would add park and streetscape work; seven cents, about $6.7 million, would fund a full penny toward public works debt and added fire prevention capacity. Staff ask the council how it would describe a "good" balanced budget and what else to weigh before bringing back a recommended budget on May 14.

Summarized from the published agenda. Read the agenda itself before acting on it.

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Agenda items (3)

Procedural · 2Discussion item · 1
  1. 1 Call to Order
    Procedural
  2. 2.a FY25 Budget Work Session
    Discussion item Budget and appropriationsTax rate and revaluation
    Staff present the FY25 budget outlook: $19 million in department requests, about $5 million in base budget capacity, and three illustrative funding tiers tied to raising the tax rate 3, 5 or 7 cents above the revenue-neutral rate. The presentation asks the council for direction on which investments to prioritize before staff return with a recommended budget on May 14.
  3. 3 Adjournment
    Procedural

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