City to vote on budget
The City of Lexington will vote on the Annual Budget Submission for Fiscal Year 2021-22 on Monday. The meeting agenda includes a summary from City Manager Terra Greene on Monday, May 24, 2021.
The proposed budget is being made available for public inspection on the City’s website at <https://www.lexingtonNC.gov> on the same day. In accordance with N.C. General Statute 159-12, a public hearing on the proposed budget must be advertised and held prior to the adoption of the budget.
“With fiscal year 2021-22, the City expects local option sales tax to increase by $1 million to above C-19 pre-pandemic levels, reversing the projected $568,000 decrease that was originally anticipated with the 2020-21 budget,” according to the package that will go before the council.
Councilor Donald Holt will present a proclamation in honor of Juneteenth.
Recommendations include:
· Although the City’s overall no change is recommended in the property tax rate of $.65 per $100 of assessed valuation in the proposed budget.
· A 10% increase is recommended for water and wastewater rates in order provide additional
funding necessary for significant infrastructure maintenance and rehabilitation requirements.
Other agenda items will include:
1. A Budget Ordinance for the City of Lexington General, Special Revenue,
and Enterprise Funds for Fiscal Year July 1, 2021 Through June 30,
2022 – Ordinance No. 21-37 - ORD 21-37
2. Ordinance Establishing, Amending, and Maintaining Capital Reserve
Funds for Governmental, Electric, Water and Wastewater, Natural Gas,
and Fleet Management for Fiscal Year July 1, 2021 Through June 30,
2022 – Ordinance No. 21-38 - ORD 21-38
3. Ordinance Amending and Maintaining Rate Stabilization Funds for
Electric and Natural Gas for Fiscal Year July 1, 2021 Through June 30,
2022 – Ordinance No. 21-39 - ORD 21-39
4. Financial Plan for the City of Lexington Internal Service Funds for
Fiscal Year July 1, 2021 Through June 30, 2022 – Resolution No. 29-21
- RES 29-21
5. Resolution Amending Fee and Rate Schedules – Resolution No. 30-21
- RES 30-21
6. Neighborhood Revitalization Funds Program - Allocate Funds from
Mayor and City Council to J. Smith Young YMCA for Kids Swim Free
Days at Lexington Aquatic Park - Ordinance No. 21-40 - ORD 21-40
7. Resolution Authorizing Termination of Lease Agreement with
Davidson County Rescue Squad – Resolution No. 33-21 - RES 33-21
