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Raeford manager previews 2022–23 budget, flags retirement and insurance cost increases
Summary
City Manager Dennis Baxley told the council the 2022–23 budget will likely include higher retirement contribution rates and an estimated 10% rise in insurance premiums; he said a proposed 7.9% COLA may not be attainable pending revenue projections and noted changes to the SAFER program require legal review.
City Manager Dennis Baxley presented a preview of the 2022–23 budget to the Raeford City Council on April 4, outlining personnel and cost pressures the city expects to address in the coming fiscal year.
Baxley told the council that retirement contribution rates are projected to increase for non-law-enforcement employees from 11.14% to 12.40 percent and for law-enforcement officers from 12.10% to 13.10 percent. He said insurance premiums are estimated to rise by about 10 percent. No major capital requests were submitted at this time.
Baxley also reported that the SAFER program as previously administered will be unable to continue under existing arrangements due to Fair Labor Standards Act (FLSA) regulations; the Raeford Volunteer Fireman’s Association, Inc. requested a lump-sum payment so the program could be operated by the association and Attorney Regina Sutherland will review applicable law before the council makes a final decision.
On cost-of-living adjustments, Baxley said that a CPI match of 7.9 percent is being considered but may not be attainable this year because revenue projections are still being finalized; property tax and revenue-neutral calculations are preliminary and depend on further county adjustments.
The council received the budget preview as information; no formal budget vote occurred at the meeting.
