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Midway Council previews $2.395M budget, OKs 3% COLA and $1M parks allocation
Summary
At a March 19 budget work session, Midway Town Council reviewed a proposed $2.395 million budget, agreed by consensus to a 3% cost-of-living increase for staff, kept pavilion fees unchanged, and directed staff to prepare proposals on retirement/HSA options and an investment-portfolio overview.
Midway Town Council on March 19 reviewed a proposed $2,395,000 fiscal-year budget that includes a $1,000,000 appropriation for Parks and Recreation and a conservative $100,000 estimate of additional ad valorem revenue tied to a recent property revaluation.
Town Manager Brock Hall told council members the town’s tax base is projected to rise from about $397 million to $657 million after revaluation, which staff estimates could increase ad valorem revenue by roughly $125,000–$130,000; the proposed budget conservatively counts $100,000 to reflect a 96% collection assumption. “If you do not stay on top of the cost-of-living adjustment incrementally year to year, it would be easy to suffer compression issues,” Hall said during the meeting.
The council reached consensus to include a 3% cost-of-living adjustment for staff…
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