Lori Graham
Contributing Writer
CHRISTIANSBURG – A proposed draft for the fiscal year 2024-2025 budget has been presented to Christiansburg Town Council members and the public.
Finance Director Valerie Tweedie began her Mar. 26 presentation with a brief summary of the budget funding categories, what operating costs and projects they cover, and the streams of revenue that support them.
“We have six distinct funds that we budget for, but we kind of pull that all together when we’re looking at the numbers,” Tweedie said. “We have two enterprise funds, the water and sewer fund, and the stormwater enterprise fund, each of those have their own revenues, their own expenditures, their own capital costs and they’re all contained within those funds and those funds are not used for general purpose, general fund type things.”
Tweedie’s presentation also explained that special revenue funds are specific to the source of revenue that the funds are received from, some of which are grants from the state and/or federal government.
Capital projects are “mostly for transportation, trails, streets, roadways, those kinds of projects that aren’t dedicated to one of the Enterprise funds,” Tweedie said.
Capital projects can come from grants, Virginia Department of Transportation specific funds, or can come from general funding to complete projects lacking enough monetary support to fully complete.
“The general fund is where everything else goes,” Tweedie said. “All of our public safety, most of our public works, barring the enterprise type activities, are all funded out of the general fund from our tax revenues, meals tax, lodging tax, the various categorical aid, law enforcement fund, highway maintenance funds, all of those are housed within the general fund. All parks and recreation comes out of the general fund as an accounted for within the general fund.”
Projected taxes in the various areas were also laid out by the finance director. The meals tax has in recent years seen a 7% increase but for the upcoming year is projected to be at 1%. Sales tax is currently at 4% and projected to see a 2% for 2025. Lodging taxes are down but will hold the revenue stream flat for 2025. Personal property taxes will remain flat and real estate taxes are projected to have a slight increase in revenues due to increased property values and development.
There are no proposed increases for water, sewer, or garbage fees or no proposed fee changes.
Sources for all areas of funds are currently totaling approximately $111 million for the upcoming fiscal year.
A considerable gap between revenues and operating expenses is present in the numbers. This gap is a result of increased inflation, rollover of funds for capital projects that have not been completed, and increased salaries and new positions.
“In this budget we presented four new positions that we discussed at our work session back in early March,” said Tweedie. “One full-time firefighter, two more EMS positions, and one new police officer, which would be funded at least in year one as a result of New River Valley Community Resources. That will be grant funded for at least year one.”
A full list of capital project items can be found on page 37 of the budget document and total 57 million dollars.
A public hearing will be set for either May 14 or 28 and community members are welcome to attend. The final budget must be approved by June 30, 2024.
The Town of Christiansburg proposed budget for FY 2024-24 has been posted on the town’s website at www.christiansburg.org.
