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Rural Hall council adopts FY 2026–27 budget and formal fund-balance policy
Summary
Council adopted the FY 2026–27 budget and approved a formal fund-balance policy targeting 40–60% unassigned reserves (minimum 40%). The budget also included end-of-year amendments totaling $72,600 across departments, offset by higher-than-expected revenues.
The Rural Hall Town Council adopted the fiscal year 2026–27 budget after a public hearing and simultaneously enacted a formal fund‑balance policy to guide reserve levels.
The town manager recommended adoption of a policy establishing a target unassigned fund balance of 40–60% of general fund operating expenditures with a minimum of 40 percent, noting the town's current unassigned balance is approximately 89.88 percent. "This proposed policy establishes a target unassigned fund balance of 40 to 60% of annual general fund operating expenditures," the manager stated, framing the policy as a best practice aligned with North Carolina Local Government Commission guidance.
Council also adopted a set of year‑end budget amendments for FY 25/26 totaling $72,600 to account for part‑time fire shift coverage and additional electrical expenses for Covington Park lighting; the amendments were offset by stronger-than-projected revenues including license-plate-agency receipts and miscellaneous recoveries. The manager said auditors and accountants reviewed the amendments and recommended them to avoid audit exceptions.
