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Wake Forest adopts FY 2025-26 budget, holds property tax rate at 42 cents; commissioner seeks nonprofit accounting
Summary
The Wake Forest Board of Commissioners unanimously approved the fiscal year 2025-26 budget and kept the town's property tax rate at 42 cents per $100 of assessed value. A commissioner asked for greater transparency on how town funds awarded to local nonprofits are spent.
The Wake Forest Board of Commissioners unanimously approved the town's fiscal year 2025-26 budget during its regular meeting, keeping the property tax rate unchanged at 42 cents per $100 of assessed value.
The budget vote funds town priorities the board described as infrastructure and public safety while avoiding an increase in the property tax rate. One commissioner thanked the town's financial team and called for more transparency from nonprofit grant recipients, saying, "I would like to see accounting of how our funds are used."
The town manager had recommended three nonprofit allocations included in the budget: $25,000 for the Birthplace Museum, $20,000 for the Chamber of Commerce and $10,000 for the Boys and Girls Club. The commissioner said the town has requested accounting from the Chamber and asked for similar documentation from the museum and club to ensure taxpayer funds are tracked.
During debate the commissioner also noted there would be no change to vehicle fees or downtown municipal service district fees and that the town plans to use a new stormwater fund for targeted repairs in neighborhoods including Crenshaw and Cardinal Hills and reservoir repairs.
The motion to approve the budget carried unanimously.
Votes at a glance: The board recorded several other unanimous actions during the same meeting, including approval of the agenda and minutes, adoption of a consent agenda covering multiple routine items (see list below), a motion to enter a closed session under N.C. Gen. Stat. —7143-318.11(A)(6), and a 7% pay increase approved for Town Manager Kip Padgett following that closed session. Details for consent-agenda items: a contract with Engineered Construction to remodel the town hall annex for $588,900; authorization for Wake County Tax Administration and Franklin County tax administration to levy and collect property taxes and stormwater fees for fiscal year 2025-26; a budget amendment for fiscal year 2024-25; acceptance of streets into the town's maintenance system; approval of the stormwater capital reserve fund; and scheduling a public hearing related to a contiguous annexation petition for property listed as Waite Avenue 98 LLC.
The board adjourned after the unanimous votes.
