Public hearing Tuesday for Spencer’s proposed budget
Published 12:00 am Monday, June 8, 2015
By David Purtell
david.purtell@salisburypost.com
The Spencer Board of Aldermen will hold a public hearing on the proposed budget for fiscal year 2015-2016 during Tuesday’s meeting.
The proposed budget includes a property tax increase from 62.8 cents to 65.5 cents per $100 of valuation. If finalized by the board, the new rate would be the first property tax increase for the town since 2011. After property revaluations this year, Spencer’s total assessed valuation dropped by 5 percent.
Town staff recommended the tax rate be set at 65.3 cents, which would have resulted in a revenue neutral budget — but due to this year’s property revaluations, the estimated tax revenue would still be about $13,000 less then the current fiscal year that ends June 30.
During a budget workshop May 26, aldermen decided to use the 65.5 cent rate since the difference was so small — $2 for a house valued at $100,000. Sales tax revenue is projected to increase in the coming year also.
Total projected revenue for the town’s general fund is $2.77 million, up from $2.6 million for the current fiscal year that ends June 30. The proposed budget does not include the pending stormwater initiative.
The budget includes a 2 percent cost of living adjustment for town employees — which totals $19,500 overall. The budget also includes a $500 annual raise for the six aldermen — they each currently make $2,000 a year for their service. Town Manager Larry Smith said the raise would bring the aldermen’s pay closer to the statewide standard for towns the size of Spencer.
Most town departments will see an increase in their funding. The Police Department, which has the largest budget at $891,000, will receive the same amount of money as the current fiscal year. The Streets Department will see a decrease in funding, but it’s because the current year’s budget included the purchase of a replacement vehicle.
The Recreation Department will receive grant funds totaling $189,000 from the Parks and Recreation Trust Fund matching grant the town was awarded two years ago for the continual development of the Standback Forest.
In other business Tueday, the board will:
• Review an ordinance calling for a tree, deemed to be in imminent danger of falling, at 205 S. Rowan Ave. to be removed by the town if the property owner doesn’t remove it.
• Review a commercial facade grant application from Pinocchio’s Restaurant.
• Decide whether to authorize up t0 $1,000 for a “Paint Pals” project in partnership with the Historic Salisbury Foundation. The project involves painting the exterior of the house at 803 Third St.
