Angelica Ramos
Contributing Writer
CHRISTIANSBURG- The Christiansburg Town Council voted to approve the adoption of the fiscal year 2024-2025 budget during its June 11, 2024 meeting.
The FY 2024-2025 budget was first brought to the Christiansburg Town Council on March 26, 2024. Multiple work sessions were held and a public hearing was held on March 28, 2024 addressing the budget. Changes to the original budget were made and a new draft was proposed on May 5, 2024. Directors submitted their requests for their departments in January and the budget was created to best achieve balance for the fiscal year. Those meetings, requests and the public hearing have led to the budget that was approved June 11, 2024.
Currently, the total general fund is $11,613,417.60 and the total of all capital funds is $58,243,419.17. The proposed unassigned fund balance is $16.26 million with 33 percent of that to remain within the fund balance policy. The 33 percent is part of a policy that was established to have funds enough to sustain the town’s essential services in times of hardship or difficulty.
With the approval of the budget, there came some important updates. There will be no increases to water or sewage rates in FY 2025 with this approved budget. There will also be no real estate or property tax increases for the Town of Christiansburg. Real estate taxes will stay at 14 cents per $100 of a property’s value. Personal property taxes will stay as they are, at 45 cents for every $100 in the assessed value of the property. Garbage collection fees will also not increase in FY 2024-2025.
The approved budget will cover capital and construction projects that continue into FY 2024-2025 as well as new projects for the fiscal year.
“Managers and department heads, thank you for your work on these budgets. It just seems like now, you can start on next year’s,” Mayor Michael Barber said, humorously.