City manager presents FY2025–26 recommended budget: $93.18 million, proposed tax-rate reduction and utility rate changes
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Summary
City Manager and finance staff presented a recommended $93.18 million budget with proposed property tax rate reduction to 69 (from 82.5 reported), a 9% water/sewer rate increase, $11.4 million for water reclamation facility design and $1.2 million additional paving funding.
City Manager Matt Livingston and Finance staff presented the manager’s recommended FY2025–26 budget at the May 19 Goldsboro City Council meeting, summarizing priorities, reductions and proposed rate changes.
Livingston said the recommended budget totals roughly $93.18 million and is approximately $32 million less than department requests after capital reductions and reprioritization. The recommendation reduced discretionary capital spending and shifted some capital items to future years. The manager described priority funding for public safety, targeted capital needs and employee recruitment and retention measures tied to a separate market and organizational study.
Highlights presented by the manager and finance staff (reported verbatim from the presentation): proposed total budget approximately $93,180,000; proposed reduction of the property tax rate from 82.5 to 69 (described as a 13.5% reduction from the current rate reported in the presentation); revenue-neutral rate calculated at 0.5632; an increase in water and sewer rates of 9% proposed to fund a water-reclamation facility design; proposed water reclamation facility design funding $11,400,000 (design fees), additional street paving funding $1,200,000, recapitalization of rolling stock and equipment $3,800,000, and an allocation related to vehicle tag fee increase from $10 to $30 to help fund paving. Finance staff provided examples of the tax impact by house value and discussed average utility-bill comparisons with peer municipalities. Finance staff said the city plans to pursue a tiered water-rate structure in a later year but current billing software limits implementation in FY2025–26; funds are included to upgrade systems to enable a lifeline/tiered rate option in a subsequent year. The manager and finance director emphasized that the recommended budget uses no fund balance and that staff intend to hold a public hearing on June 2 and present the budget adoption recommendation at a later council meeting. Council members requested individual briefings and additional work sessions as needed.
