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Belmont presents $32.95 million general-fund budget proposal; council hears plan to hold tax rate
Summary
City staff presented a proposed FY 2026–27 budget that maintains the current tax rate and budgets for higher insurance costs, a 2.0% cost-of-living adjustment for employees, and an 8% water and sewer rate increase; the plan is scheduled for adoption June 1 after further council review.
Miles Bradwell, speaking for city staff, presented Belmont’s proposed fiscal year 2026–27 budget and outlined next steps for council review and adoption.
The proposed general fund is $32,950,126, with the transcript listing the water and sewer fund as $13,844,60 and the stormwater fund at $966,968. Bradwell told council the proposal maintains the current property tax rate and that one penny on the tax rate would equal about $348,026. He said property-tax revenue is budgeted at a 99% collection rate and sales-tax receipts are projected to grow from the prior year based on the North Carolina Department of Revenue forecast.
Why it matters: the manager’s proposal funds planned capital projects, maintains core operations, and budgets significant increases for employee benefits and insurance. The document shows a proposed two-point (2.0%) cost-of-living adjustment and up to 3% in merit increases; staff also included an increase for health-insurance costs. Bradwell said the draft budget includes a 43% health-insurance line item increase in the current version while staff prepares a plan A/plan B for employee coverage choices.
Details and debate: council members pressed staff about several line items. Among the items discussed were a proposed $4,132,580 fund-balance appropriation for capital projects, the status of negotiations for the city’s waste-and-recycling contract (staff said they budgeted the maximum bid and expected to finalize negotiations within the week), and parking-lease revenue that the city has re-budgeted after lease-rate negotiations with Belmont Land Investment (the packet shows $121,000 in lease revenue for three lots, up from about $33,000 previously).
On staffing, Bradwell said departments asked for six new positions but the manager recommended no new hires in this draft; the budget documents 196 full-time positions total (budgeted, not net filled). Bradwell also described major capital projects included in the CIP totals, including a $16.7 million moratorium project and a placeholder for a $26 million wastewater treatment project.
Next steps: Bradwell said the budget is scheduled for adoption on June 1 and that the draft is available for public inspection in the city clerk’s office. Councilmembers asked staff to return with additional proposals and clarifications at upcoming workshops before final approval.
Ending: the presentation closed with staff inviting council questions and promising follow-up on health-insurance options, the waste contract, parking-lease details, and fund-balance uses.
