Budget Message and Proposed Budget for Fiscal Year 2022-2023

In accordance with Sections 159-11, 159-12, et al. of the General Statutes of North Carolina, it is my duty to submit for your consideration the proposed balanced Town of Lake Lure Budget for Fiscal Year 2022-2023 commencing July 1, 2022, and ending June 30, 2023. This budget is based on a careful analysis of departmental operating budgets, Capital requests, and prioritized needs identified by department heads through one on one meetings and budget workshops held with the various combinations of Town staff, the Mayor, and Council members. In summary, the budget is balanced at the recommended tax rate of $0.53 per $100 of property value. It is recommended that Water/Sewer Rates remain unchanged compared to Fiscal Year 21-22.

The Budget for Fiscal Year 2022-2023 has been structured to meet the immediate needs of our significant infrastructure challenges. The goal of the budget is to reduce day-to-day expenditures by creating efficiencies while continuing to build a capital reserve for the dam replacement project. The long-term debt service cost may be mitigated by strategic planning and improved business practices. The budget specifically includes:

1. Using measures to support the self-sufficiency of dredging and lake operations using only user fees and State-sponsored grants. This significantly reduces the dependency on tax revenues for day to day lake operations;

2. Reducing subsidies to neighboring communities for public safety services by enhancing the capabilities of Town Fire and Police to respond to incidents in remote areas. This initiative improves
fire, medical, and police protections for all Town residents;

3. Reducing expensive labor outsourcing by training and professionally developing Town staff to conduct routine maintenance and operations in various areas. Reducing the Town’s dependency on contractors is a significant cost-reduction measure;

4. Reducing inefficient Town business practices and non-essential recreational subsidies that undermine the ability to sustain long-term debt service. Providing subsidized recreational services to visitors has been minimized in order to avoid a financial burden on Town taxpayers;

5. Continuing to invest in dam, hydroelectric plant, and wastewater monitoring and control technology to reduce expensive labor hours required to conduct routine operations. This initiative will allow greater efficiency through employee to cross-training and pursuance of higher priority projects within the community;

6. Providing cost of living increases and heeding to the results of pay studies in order to retain and recruit the necessary workforce to operate unusually sophisticated operations in challenging environments; and

7. Improving or maintaining all current operations and services at levels to meet community expectations.

Please download the document below to review the specific outcomes expected over the next budget year as the Town begins executing the Fiscal Year 2022-2023 Budget beginning July 1, 2022.