For Wake Forest property owners, the good news in Town Manager Kip Padgett’s budget is that the tax rate remains the same at 52 cents per $100 valuation and there is no change in the electric rates.
For the town’s administration, the good news is that every penny of that rate is more than it was a year ago, about $478,000 for the 2017-2018 fiscal year against $457,000 in the current year. Of the 52 cents, 11 cents goes to the Wake Forest Fire Department for their contract with the town and 41 cents provides a proposed $24,940,185 to the general fund. The total general fund budget is $42,894,500 and the separate Wake Forest Power budget is $21,534,100.
The town’s tax base has grown from $4,623,488,000 last year at this time to $4,899,445,110, giving the town more money to increase services for a population that continues to grow. Padgett proposes to fund 10 new positions including three yard waste collectors and convert the recreation specialists in the parks and recreation department from part time to full time.
Padgett presented the proposed budget at the end of the town board’s work session Tuesday night. The budget binder, substantially slimmer than in past years, includes a major reorganization of some departments – Padgett said the changes were made “So we don’t have as many [information] silos” – along with three new benefits for employees, the beginning of a major road maintenance and connectivity project, and an emphasis on economic development.
Those changes are:
*Six weeks of paid parental leave for employees who have a new baby or adopt a child. During the Tuesday meeting Padgett spoke about providing a three-week benefit for employees caring for an aging parent or step-parent but that is not in this year’s proposed budget.
*A “floating holiday” for all employees to take the day off of their choosing.
*After 15 years of service and later after 25 years of service employees may accrue an extra six months of six leave. This may allow people to retire earlier than they had planned.
*The town has 244 authorized employee positions, including the general government and Wake Forest Power, and will have 257 if this budget is approved.
*The town will purchase the bucket truck and chipper Urban Forestry Coordinator Jennifer Rall requested in previous budget cycles and will hire a two-person tree-trimming crew that will operate within the tree-trimming division in the public works department.
*The Fourth of July Committee, the Wake Forest Historical Museum, Resources for Seniors and the Wake Forest Area Chamber of Commerce will receive the same amounts as last year.
*The current planning and engineering departments are being consolidated into the C
community development department headed by current Planning Director Chip Russell. His new title will be community development director and recently-hired Assistant Planning Director Brendie Vega will be the assistant community development director heading up the planning department.
*The current finance and information technologies departments will become the administrative services department headed by Finance Director Aileen Staples, whose new title will be chief financial officer (CFO).
*The public facilities department will be tucked into the inspections department.
*The Renaissance Centre staff will be shifted from the town manager’s office to the downtown development department. Economic Director Jason Cannon and Downtown Development Director Lisa Hayes report directly to Padgett.
*A new position will be added to the public works department, an electric systems division manager who will report to Public Works Director Mike Barton.
*The budget includes $1.5 million for the road maintenance and connectivity project, money that will be raised through a debt plan rather than coming from general fund revenues.
*The general fund will begin providing a revenue stream to the Futures Fund, $125,000 this year with perhaps more in coming years.
*The operating budget for the economic development department was increased substantially, 75 percent increase, with an additional part-time person and more marketing efforts. The new nonprofit Wake Forest Business and Industry Partnership is looking at land inside town limits to develop a technology business park, a project that could be announced later this year.
*Padgett is beginning a performance management system to identify the goals and objectives of each department and measure workload effectiveness.
*The town will share the cost to construct a press box and bathrooms at Heritage High School with the Wake County school system and the Heritage High Athletic Boosters. The town’s share is $40,000.
A public hearing about this proposed budget will be held at the beginning of the town board’s meeting on Tuesday, May 16, at 7 p.m. After that the board will hold a work session about the budget and vote on it in June.
