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Council opens public hearing on FY26 budget; manager, staff and residents debate tax rate and fund balance use
Summary
The town opened the public hearing on the FY26 budget and discussed a proposed 17-cent tax rate; staff and multiple residents debated conservative revenue assumptions, fund balance levels and capital priorities. Council scheduled final budget adoption for its first June meeting.
The Indian Trail Town Council opened a public hearing on the proposed fiscal year 2025–26 budget and discussed the recommended tax rate and capital priorities at the meeting.
Town Manager Michael McLaurin said the manager initially recommended an 18.5-cent rate, but council members agreed on a 17-cent rate as a compromise after reviewing priorities. "That is the benchmark. That is the North Star that we are currently following," McLaurin said. The council set a public hearing and scheduled final budget adoption for the council’s first meeting in June to allow staff to close fiscal-year '25 actuals and finalize FY26 numbers.
Finance staff and members of the public questioned assumptions in the proposed budget. Resident…
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