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Finance committee reviews proposed 2026 budget, flags insurance hikes and town-center transfer
Summary
The Holly Springs Finance Administration Committee reviewed the proposed 2026 budget, noting steep insurance cost increases (health +33%) and a $300,000 transfer to the town center fund; no new personnel are budgeted and the committee approved sending the plan on to council.
Speaker 1, presenting the proposed 2026 budget to the Finance Administration Committee, said the proposal includes sizable benefit-cost increases — health insurance up 33%, dental up 5%, long-term disability up 5% and workers' compensation up 10% — and that there are no new personnel budgeted for next year.
"I have included in there with the expenditures, health insurance increase of 33% this year," Speaker 1 said, and later added that a one-time $200,000 increase in revenues was recorded after the insurance premium tax payment came in higher than expected. Speaker 1 gave the proposed general fund total as $17,500,000, a…
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