Bailey OKs $1.5M budget for 2024-25

The town of Bailey adopted its 2024-25 fiscal year budget on June 17, a balanced effort with a tax rate of 68 cents per $100 in property valuation and anticipated revenue equaling $333,805.

A general fund balance appropriation of $369,696 was also included in the package, per Town Administrator Joel Killion, but it’s not expected to be needed the entire year. Bailey’s total budget is $1,528,704.

EXPENDITURES

The town’s general fund was established at $1,013,900, with $419,804 and $95,000 allocated for water, sewer and cemetery expenses.

The plan also includes a 6% cost of living adjustment for all employees, with other items as follows:

• Adminstration budget: $473,638

• Planning and zoning budget: $45,911

• Police department: $289,002

• Parks and recreation department: $15,000

• Streets department: $55,149

• Garbage department: $135,200

Funding for the Bailey Police Department will cover operational expenses for part-time and full-time staffing, with grant money from the N.C. League of Municipalites and the U.S. Department of Agriculture potentially available to defray the cost.

Water and sewer numbers represent an increase from prior years, covering debt service, a new generator and contract services provided by Envirolink and Top Notch Lawn Care LLC.

A part-time utilities technician tasked witih providing departmental support is also included in Bailey’s spending plan.

REVENUE-NEUTRAL RATE

Killion said a tax rate of 49 cents per $100 in valuation was “calculated to generate the same amount of revenue after allowing for growth in property values, including the general increase due to Nash County’s re-evaluation.”

Bailey commissioners voted to maintain the current 68-cent tax rate.

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