Town of Hillsborough issued the following announcement on Jan. 20.
The Hillsborough Board of Commissioners will hold a budget retreat focusing on the Fiscal Year 2024 budget at 9 a.m. on Saturday, Jan. 28.
The Hillsborough Board of Commissioners will concentrate on the Fiscal Year 2024 budget at a retreat next weekend.
The meeting will be 9 a.m. Jan. 28 at the Town Hall Annex, located at 105 E. Corbin St., and will be open to the public for in-person attendees. Discussion will focus on a financial update, strategic planning progress and proposed capital projects over the next seven fiscal years. The town’s fiscal years start July 1.
Additional discussion topics will include:
The addition of an equity objective in the Community Safety focus area.
Prioritization of potential efforts to address climate change.
Stormwater utility fee.
Potential opportunities for hosting interns and Lead for NC Fellows.
If needed, a second retreat will be April 3. The town manager’s recommended budget will be presented in May, followed by a required public hearing. Budget adoption is expected to take place June 12.
The budget discussion is informational, and no vote will be taken on budget allocations at this meeting. Budget retreats are not legally required but are common and encouraged for transparency across local governments.
The town’s three budgetary funds are the General Fund, Water and Sewer Fund, and Stormwater Fund. The General Fund is primarily funded with property and sales tax revenues, while the other two funds are enterprise funds that rely on user fees. No profits are made in enterprise funds, and the revenue is used for no other purpose.
For additional information on the budget, contact Budget Director Emily Bradford by email or at 919-296-9427. For information on attending the meeting, contact Town Clerk Sarah Kimrey by email or at 919-296-9443.
Original source can be found here.
