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Hope Mills draft budget relies on 48-cent tax rate and ARPA; board weighs repurposing park funding
Summary
At a special 5 p.m. workshop, Hope Mills Town officials reviewed a draft FY2025-26 budget balanced at a 48-cent tax rate that relies on $660,000 in ARPA funds and roughly $442,300 in fund balance; board members discussed repurposing $65,000 for playground equipment and noted the budget cuts about 13 requested positions.
Hope Mills Town leaders reviewed a proposed FY2025-26 operating budget at a special 5:00 p.m. workshop that would balance the books with a 48-cent tax rate and a mix of one-time resources, staff said. Town staff told the board the draft removes a previously assumed $481,000 sale of a cell tower, uses about $442,300 of fund balance and would draw $660,000 in American Rescue Plan Act (ARPA) funds to achieve balance.
Why it matters: The draft shifts costs from recurring revenue to one-time sources and requires program and personnel cuts to close a gap created by lower sales-tax receipts, officials said. Board members expressed concern about preserving core services while limiting tax increases.
What sta…
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