Approval of Resolution 2024-18 and the new Agreement for the State Revolving Fund
Loan Program (SLFLP) Resolution - Lead Service Line Loan
Attorney Trask read Resolution 2024-18 into record by title only.
Ms. Lancaster stated additional funding has been made available from the state;
shared percentage of 51 percent.
Deputy Mayor Shelly moved approval of Resolution 2024-18 authorizing the new loan
agreement, increasing the Loan Repayment Reserve Account, and establishing the Town
Manager as the authorized representative to provide assurances and commitments required by
the loan application. Seconded by Commissioner Kelly.
Aye: 5 - Mayor Wilkinson, Deputy Mayor Shelly, Commissioner Barris, Commissioner Kelly, and
Commissioner Jennings
Maximum Millage Levy FY 2024-25
Ms. Lancaster spoke on properties and values; average parcel taxable values;
community atmosphere; spoke on services such as police security and response, solid
waste, streets and sidewalks, family parks; minimal commercial properties, residential
community; thanked finance for making budget in line with financial standards. Ms.
Lancaster spoke on steps taken such as flattening organization, eliminated
non-productive contracts, maximized revenues and continue to do so; utilized part-time
staff; increase to construction costs and consumables; last increase was 2019; health
care and personnel taxes have increased, staff number has remained the same;
believes this is a prudent budget; spoke on legislature proposing an additional $25,000
homestead exemption which will effect most households if passed.
Ms. Lancaster spoke on continued repairs needed to infrastructure; continuing progress
and lifestyle; a modest millage increase is being recommended.
Ms. Porter provided an overview of the property tax process; updated numbers
received from the property appraiser on July 1st; maximum millage must be set and
provided to property appraiser so they can send to residents; proposed budget hearing
dates are September 4th and 17th; taxes are received generally by the Town in
December.
Ms. Porter provided example of the property appraiser's TRIM guide; spoke on general
fund operating expenses, capital asset purchases and equipment replacement
reserve; all leave a deficit of almost $700,000; equipment replacement has been pared
down from original proposal; spoke on building a reserve of 15%.
Mayor Wilkinson questioned 15% reserve; Ms. Porter stated best practice is having a
20% reserve; requesting additional funding to build a 15%.
Ms. Porter spoke on rising costs of roadway projects, changes from initial costs
estimates to final completions; spoke on last millage increase in FY 2018-2019;
provided overview of potential increases and revenue gained; spoke on projected
impact to residents, provided average monthly impact based on home value, does not
include exemptions provided by Property Appraiser. No significant variations from
property appraiser numbers are anticipated; will continue to work looking for potential
revenues and reduction of expenditures, but does not anticipate anything that will
significantly change the budget; if deficit is not covered through increase revenue,
millage increase or reduction expenses, then unreserved fund balance will need to be
used to offset the deficit; spoke on numbers required; spoke on purpose of reserve
funds; staff is recommending a maximum millage rate be set a level to eliminate that is
sufficient to eliminate the majority of the budget deficit.
Commissioner Kelly questioned Chief Doyle if 3rd party resources have been used;
