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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 Centennial Center Park and parking-lot improvements, $279,000 for a street sweeper and $82,000 for the Rocky Branch Trail.
Assistant Town Manager Josh Watkins updated the board on projects. He said the town has an NCDOT grant of $801,558 for the Riverlink Trail and that the design and permitting contract is estimated at $317,000; staff estimated a five-year timeline for the Riverlink extension and said construction would take about three to four months after selection of a contractor. Watkins also reported downtown parking-lot Phase 1 used contingency funds and that an additional $27,000 would be needed for change order #2 for Phase 1. He said property owned by Duke Energy may provide an access point to the eight-acre Redhawk site set aside for a municipal/county facility and estimated purchase and roadway design costs at $40,000–$50,000 to be shared with Gaston County.
Commissioner Atkinson asked about a payment-in-lieu account showing a zero balance; Wilkins and Interim Town Manager Leamon Brice said that account had been separated from the General Fund and that prior budgets had counted anticipated developer payments as revenue. Atkinson urged a hiring freeze to conserve cash; Commissioner Kincaid cautioned that cutting hires could strain operations because current staff are covering vacant positions.
Watkins flagged other capital needs: moisture mitigation at the C.B. Huss Sports Complex ($446,000), lighting design for the downtown lot ($6,600; Duke Energy will cover installation), and an estimated $15,000 sidewalk connection from the Courtyards at Cramerton to the Timberlake neighborhood. The board asked staff to compile and prioritize projects; Wilkins and Watkins said they would present a capital improvement plan and additional budget detail at the November meeting.
The board also consented to a special called retreat on Oct. 29 to discuss roles and expectations, and agreed to move the Oct. 20 meeting to Oct. 27 with a 5 p.m. start and a 6 p.m. public hearing.
Ending: Staff will return with a proposed five-to-ten-year capital improvement plan and updated budget amendments at the November meeting.
