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Fayette County presents FY2025 budget with no tax increase, $6.06M five-year CIP
Summary
Fayette County officials on May 29 presented a proposed Fiscal Year 2025 budget that maintains employee benefits, proposes a county minimum wage increase to $16 per hour, funds a $6,061,021 five-year capital improvement program and continues a millage rollback that officials said means no tax increase; public hearings are set for June 13 and June 27, 2024.
Fayette County Chief Financial Officer Sheryl Weinmann presented the proposed Fiscal Year 2025 budget to the Board of Commissioners at a special-called meeting on May 29, 2024, saying the plan includes a millage rate rollback so there would be no tax increase and funds a five-year Capital Improvement Program (CIP) totaling $6,061,021.
Weinmann said the county projects a FY2024 fund balance of $30,766,512 with a Stabilization Fund of about $19.9 million, an emergency fund of $2 million and an estimated unassigned balance of $2.4 million after the proposed budget. "The County does not use one-time revenues to fund current expenditures," Weinmann told the board, emphasizing that capital projects are linked to operating budget capacity.
The budget presentation detailed major revenue sources and allocations. Property taxes, sales taxes and the…
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