ANNUAL BUDGET FY 2024-2025 OF 2 CONE EST. 1881 TOWN OF CONETOE NORTH CAROLINA OF CON EST.1887 "Wej put the Unity in Community!" Founded in 1887, Conetoe is a small town situated about six miles southeast of Tarboro, in Edgecombe County, North Carolina. Originally, known as Warren Station, the town settled on the name Conetoe fori its location along the Conetoe Creek. It's a small farming community where everyone knows everyone and neighbors can still rely on each other. OCON EST.1887 TOWN OF CONETOE Incorporated in 1887 Post Officel Box 218, Conetoe, NC27819 Phone: 252-823-0349 Email: omotCaceNCégmilcen Board of Council Mayor Delane. Bryant PO Box 473, Conetoe, NC27819 Phone: (252)717-9725 Email: elanebpant@pmailcom Mayor o-Tem/Commisioner Jenny, Staton-Hinnant PO Box 294, Conetoe, NC27819 Phone: (252)904-4929 Email: mmymmamto@gmal.con Budget Officer/Commisioner Clayton Webb PO Box 11, Conetoe, NC 27819 Phone: (252) 702-2871 Email: ebhx20astdemiscudu Commissioner Cedric. Barnes 116 East Thigpen Road, Conetoe, NC27819 Phone: (252)452-4577 Email: blesy@gmai.comles Commissioner Monica Worsley PO Box 63, Conetoe, NC27819 Phone: (252)366-6127 Email: onloymonis2@maileom OFC CON EST.1887 TOWN OF CONETOE Incorporated in 1887 Post Office Box 218, Conetoe, NC27819 Phone: 252-823-0349 Email: lomotComeeNCegmailoen Town Hall Staff Town Clerk/Finance Officer Kelly Hunter PO: Box 374, Conetoe, NC27819 Phone: (252)883-1691 Email: conctoenc.townçlerk@gmail.com Town Adminstrator Delane. Bryant PO Box 473, Conetoe, NC27819 Phone: (252)717-9725 Email: cancbrvant@rmal.com Support Staff/Finance Officer Jenny Staton-Hinnant PO Box 294, Conetoe, NC27819 Phone: (252)904-4929 Email: cmayhmamtol@smaileon Town Attorney Deloatch & Hinton, PLLC 210E. St. James Street P.O. Drawer 308 Tarboro, NC. 27886 Phone: (252)429-7850 Email: chad@dhandplaw.com POrCRa EST. 1887 BUDGET MESSAGE FY 2024-2025 BUDGET MESSAGE lam pleased to provide the Town of Conetoe Fiscal Year 2024-2025 Proposed Budget for your consideration. The public hearing for the Proposed Budget is expected to take place on. June 11, 2024. This budget contains line items of revenue and expenditures categories. The Proposed Budget is a sound financial plan and has been prepared with the Board's goals and objectives adopted from their annual planning session and budget workshops. The Budget Ordinance is al legal document which must be adopted prior to. June 30, 2024. All components oft this budget have been prepared and assembled in accordance with provisions of the North Carolina Local Government Budget and Fiscal Control Act and conform to all other applicable State and Federal standards. This Budget isi financially balanced, identifies all anticipated revenue sources, and provides all proposed departmental expenditures. In preparation for the new fiscal year budget, the Finance Officer will regularly monitor estimated and actual The Fiscal Year 2024-2025 Budget totals $171,605.00. This is a 2.86% increase to last year's budget. This increase is due to inflation, more needed services and resources, increases in administration, and the pursuit of available revenue. There is a taxi increase of $0.07 being proposed for the Fiscal Year 2024-2025 making the new tax rate fort the Town of Conetoe $0.45. The North Carolina Local Government Commission recommends that the local governments maintain a minimum unassigned fund balance of no less than eight percent of expenditures. The Fiscal Year 2024-2025 Proposed Budget continues to use the five fund budget categories presented in the last fiscal year. Theyi include: Administration, Governing Body, Sanitation & Services, Utilities, and Revtalization/Events. It is the belief that these fund budget categories are serving the Town of Conetoe well and allows for more precision and monitoring of the revenues and expenditures. Fiscal Year 2024-2025 Budget. EXPENDITURES The Administration fund budget includes additional funds due to a new: straight salary fore employees, increased advertisement costs for legal notices, and increased rates in The Governing Body fund budget remains as is with no additional funds added. The Sanitation & Services fund budget includes the contractual services for solid waste removal, yard waste pick-up, and grass cutting. Additional funds were added only tot the solid waste fund budget due to an increase in payment for these services. attorney fees, auditing, bonds, and insurance. The Sanitation & Services fund budget also includes Streets and Drainage. The Powell Bill expenditure has been added to this fund budget to alloti for small drainage projects. The Utilities fund budget includes additional funds due to inflation and increased No additional funds were added to the Revtalzation/Events fund budget. electric rates. REVENUES InOffice Revenue is expected to increase. This budget fund includes the renting out of property, the selling of merchandise, and town fundraising events. We are anticipating an increase in Property tax and! Sales Tax Distribution with the increase oft the town tax rate and with the addition of two new businesses. Additional funds were added to Revenue through the Unrestricted Fund Balance. With regards to the Fiscal Year 2024-2025 Proposed budget it is imperative that we monitor revenue for areas that we mayi improve upon. CONCLUSION The Town of Conetoe Proposed Budget for Fiscal Year 2024-2025 does move the Town forward in a positive direction. It.reflects the Board's priorities for the citizens, meets the Board's stated The Town of Conetoe remains stable and in good overall financial shape. However, we will be increasing our efforts in the 2024-2025 Fiscal Year to stay within our set budget and continue to secure grants and fundraise, through events, to help perpetuate this forward trajectory and eliminate the need to use additional funds in our Unrestricted Fund Balance. We will also continue to update and implement policies to help monitor spending and to operate more lam pleased to present this Proposed Budget for the Town of Conetoe for the next fiscal year to the Board of Commissioners. lappreciate your efforts to draft a budget that provides resources and services to the town, as well as address community needs. On behalf of myself and our Budget Officerlthink you for your consideration ofi the Fiscal Year 2024-2025 Proposed goals and objectives, and is responsive to town wide needs. efficiently. Budget. Respectiulysubmitted, KellyHunter, Town Clerk/Finance Officer Rt4 OF CO EST.1881 BUDGET ORDINANCE DRAFT FOR THE TOWN OF CONETOE Fiscal Year 2024-2025 BE IT ORDAINED by the Governing Board oft the Town of Conetoe, North Carolina: The following amounts are hereby appropriated in the General Fund for the operation of the town government and its activities for the fiscal year beginning July1, 2024 and SECTION1: ending June 30, 2025. GENERAL FUND APPROPRIATIONS Administration Governing Body Sanitation & Services Utilities Revitalization & Events TOTAL $84,305.00 $17,320.00 $46,850.00 $21,130.00 $2,000.00 $171,605.00 SECTION 2: Itis estimated that the following revenue will be available int the General Fund for the fiscal year beginning. July 1, 2024, and ending. June 30, 2025: GENERAL FUND REVENUE Automobile Tax Beer & Wine Tax Franchise Tax & Utility Tax In Office Revenue Powell Bill Property Tax Sales Tax Distribution Solid Waste Disposal Tax Distribution Unrestricted Fund Balance $6,900.00 $1,000.00 $12,000.00 $7,600.00 $8,600.00 $40,000.00 $65,000.00 $100.00 $30,405.00 $171,605.00 TOTAL SECTION 3: There is hereby levied a tax at the rate of forty-five cents ($.45) per one hundred dollars ($100) valuation of property as listed for taxes as of January 1, 2024. This rate is based on the estimated total valuation of property for the purposes of taxation of $9,827,284.00 and an estimated rate of collection of 84.42%. SECTION 4: The Budget Officer is hereby authorized to transfer appropriations contained herein under the following conditions: a) Transfers between line-item expenditures within a department without limitation and without a report being required. These changes must not result in Transfers up to $1,500.00 between departments, including contingency appropriations, within the same fund. The Budget Officer must make an official report on such transfers at the next regular meeting of the Governing Board. All transfer between funds requires prior approval by the Governing Board in an increases in recurring obligations such as salaries. b) c) amendment to the Budget Ordinance. SECTION 5: Effective. July 1, 2024, the following are in effect in expenditure control: Purchase orders are required for any purchases over $200.00. a) b) Formal approval from the Board is required for all "non-routine" expenditures exceeding $2,500.00. Routine expenditures include, but aren't limited to utilities, Emergency approval of purchase orders exceeding $2,500.00 may be conveyed by the Town Administrator in consultation with the Mayor and subsequent legally required advertising, postage, etc. c) notification of the Board. SECTION 6: The Finance Officer is hereby authorized to transfer appropriations contained herein under the following conditions: a) Transfers between line-item expenditures up to $1,500.00 within a department without limitation and without Budget Officer approval and without tar report being required. These changes must not result ini increases in recurring obligations such as salaries. SECTION7 7: Copies of this Budget Ordinance shall be furnished to the Clerk, the Governing Board, the Budget Officer, and the Finance Officer to be kept on file by them for their direction ini the disbursement of funds. th Adopted this, the, day of June 2024. elont Byat Delane Bryant, Mayor Pro-Tem ATTEST: Llayn Waibk Clay Webb, Budget Officer dylA Kelly Hunter, Town Clerk/Finance Officer OF A EST.1887 ANNUAL BUDGET FY 2024-2025 OFCONE EST.1887 Town of Conetoe Fiscal Year 2024/2025 Budget Projected Expenses: ADMINISTRATION Payroll Advertising Attorney Auditing Bank Service Charges Bonds Building Repair/Maintenance Insurances Office Expenses Security $54,000.00 $2,000.00 $7,000.00 $6,000.00 $255.00 $550.00 $1,000.00 $5,500.00 $6,000.00 $2,000.00 $84,305.00 TOTAL GOVERINING BODY Payroll Ordinance Updates Training UCPC League of Municipalities Travel/Mileage SANITATION & SERVICES $6,000.00 $7,500.00 $1,500.00 $340.00 $780.00 $1,200.00 $17,320.00 $17,900.00 $4,350.00 $16,000.00 $8,600.00 $46,850.00 TOTAL Solid Waste Contract Yard' Waste Removal Grass Cutting Contract Streets & Drainage TOTAL UTILITIES Park Streetlights Town Hall Veteran'sMemorial $850.00 $16,500.00 $3,500.00 $280.00 $21,130.00 TOTAL EVTALEATION/EVENTS Events/Revitalization $2,000.00 $2,000.00 $171,605.00 TOTAL TOTAL PROJECTED EXPENSES: Budget Projected Revenue: Automobile Tax Beer & Wine Tax Franchise Tax & Utility Tax In Office Revenue Powell Bill Property Tax Sales Tax Distribution Solid Waste Disposal Tax Distribution Unrestricted Fund Balance $6,900.00 $1,000.00 $12,000.00 $7,600.00 $8,600.00 $40,000.00 $65,000.00 $100.00 $30,405.00 $171,605.00 $171,605.00 TOTAL TOTAL PROJECTED REVENUE