The City of Fayetteville has their budget. At Thursday night’s meeting, the City Council approved the Fiscal Year 2019 Budget.
Thursday was the second reading of the proposed budget, leaving few questions left to answer, as the three attending council members voted for approval.
The total of all funds comes to $55,050,992, with $15,482,481 coming from General Fund, $10,149,776 from water, sewer, and solid waste, and $27,432,682 from capital project funds.
The bulk of general fund revenues comes from taxes (53 percent), followed by SPLOST (26 percent). The biggest chunk of expenditures goes towards police (34 percent) and fire (28 percent).
Director of Finance Mike Bush noted one boost to the city’s coffers. Revenues from the Vehicle Excise Tax increased by roughly $60,000, thanks in large part to the Enterprise Rent-A-Car at Pinewood Studios.
“My understanding is that it does more business than any other Enterprise location east of the Mississippi not located at an airport,” Bush said.
Even with approval, the numbers for the budget are not set in stone. Bush said there will be mid-year adjustments needed, including when the results of a pay and class study come in.
At the July 19 meeting, City Manager Ray Gibson cautioned that the city is likely looking at a millage rate increase when a firm number can be finalized.
“We haven’t had to look at this the last few years, but we’re looking at a potential millage increase,” Gibson said. “The early estimate is about a 1.5 to 1.74 mill increase to make the budget work.”