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Cramerton officials outline projects, fund balance and multiyear capital plan
Summary
Finance Director Jeff Wilkins told the board the town closed FY2022 with $7,045,782 in revenues and identified capital needs including a Riverlink Trail design ($317,000) and Centennial Center improvements; the board directed staff to prepare a five-to-ten-year capital improvement plan and will revisit details in November.
Finance Director Jeff Wilkins provided the Town of Cramerton Board of Commissioners with an overview of recent finances and capital projects at the Oct. 6 meeting.
Wilkins said the town’s FY2022 revenues totaled $7,045,782 and listed an unassigned fund balance figure of $2,528,472 for the end of FY2021; later in discussion he referred to a $2.9 million Fund Balance figure described as “self-imposed.” He reported outstanding purchase orders and payables of $604,683 that reduce available balances and said, after accounting for appropriations and expenditures, the FY2023 budget showed a $498,196 negative against Fund Balance. Wilkins listed FY2022 appropriations and capital items including $868,073.05 for…
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