Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Budget topic
No spam. Unsubscribe anytime.
Newton City Council adopts $51.34 million FY2023–24 budget, sets property tax at $0.45 per $100
Summary
The Newton City Council on June 13 adopted the Fiscal Year 2023–2024 budget and Ordinance 2023-44, authorizing $51,340,765 in revenues and appropriations and levying a property tax of $0.45 per $100 valuation. The council approved the measure 5–1 after City Manager Sean Hovis outlined post‑public‑hearing adjustments including staff reductions and an $819,000 fund balance appropriation.
The Newton City Council adopted the Fiscal Year 2023–2024 budget and Ordinance 2023-44 on June 13, authorizing $51,340,765 in total revenues and appropriations and levying a property tax rate of $0.45 per $100 valuation.
City Manager Sean Hovis told the council that staff used a Local Government Commission worksheet and Catawba County data to calculate a revenue‑neutral rate of 39.09 cents per $100 following revaluation. Hovis said the recommended budget incorporates several changes from the previously presented draft, including the removal of a police officer position, a reduction of the Main Street economic development incentive from $65,500 to $40,000, and an additional fund balance appropriation of $819,000.
Council Member Ed Sain moved to adopt the budget; Council Member Jody Dixon seconded. Mayor Pro Tem John Stiver and Council Members Ed Sain, Jody Dixon, Jerry Hodge and Beverly Danner voted in favor; Council Member Roy Johnson voted against. The motion resolved: "That the Fiscal Year 2023-2024 Budget be – ADOPTED."
Ordinance 2023-44 lists detailed fund-level revenues and appropriations. Key General Fund lines include Ad Valorem Taxes of $8,137,800, Local Option Sales Taxes of $4,300,000, Proceeds from Borrowing of $2,285,300, a Transfer from the Electric Fund of $296,500 and Fund Balance Appropriated of $1,397,315, producing a General Fund subtotal of $20,818,615. The Water & Wastewater Fund subtotal is shown at $10,102,050 and the Electric Fund subtotal at $17,954,500; the ordinance sets total city revenues and appropriations at $51,340,765.
Section 3 of the ordinance levies the property tax at $0.45 per $100 valuation, based on an estimated total taxable valuation of $1,824,654,967 and an assumed 98% collection rate, and levies a municipal vehicle tax of $30 per resident vehicle under N.C. Gen. Stat. §20-97. Sections 4 and 5 authorize the City Manager and Finance Director to make budgetary amendments and reallocate appropriations during the fiscal year consistent with state law and the city's resolution on budget amendments.
The ordinance also certifies micro-purchase thresholds consistent with 2 CFR §200.320(a)(1)(iv)(C) and North Carolina law, listing $30,000 and $50,000 thresholds in specific procurement contexts and noting a $0.00 threshold where exemptions are not exercised.
The ordinance text, funding tables and departmental appropriation totals were entered into the record and the ordinance was adopted. The meeting was then adjourned.
