News Flash

Indian Trail News

Posted on: April 4, 2022

Fiscal Year 2022-2023 Budget Process

The Town of Indian Trail is in the middle of its budgeting process for the 2022-2023 fiscal year, which will begin on July 1 of this year.

In general, North Carolina law requires that local governments comply with benchmarks in the completion of their budget process:

  1. A balanced budget must be approved by July 1 or else an interim budget must be approved until a more permanent budget is approved.
  2. The city or county manager must present a budget by June 1.
  3. There must be a public hearing and all budget meetings must be open to the public.
  4. The local government, as part of its budget process, must set the tax rate, and the tax rate may only be set once a year.

“The budget process is one of the most important responsibilities of the Town Council and Town staff,” said Mayor David Cohn. “A balanced budget with clear priorities is essential to running the Town, providing high-quality services and amenities to our residents, and showing that we are responsible with our taxpayers’ dollars. It’s the main way we are able to make Indian Trail one of the best places to live.”

The Town’s budget process started in January with the Town Manager, Town staff and the finance department preparing initial budget proposals. The Town held its first budget workshop on Saturday, March 12, where the Council heard these initial proposals, asked questions and provided input.

At the March 12 workshop, the Council also discussed how it would use the more than $10 million dollars the Town received from the state and potential uses for the more than $12 million it received in American Rescue Plan Act (ARPA) funding from the federal government.

“The receipt of the ARPA funds, in addition to the funding from the state, puts Indian Trail in a unique and probably once-in-a-lifetime position,” said Town Manager Mike McLaurin. “These funds will allow the Town to begin long-awaited projects, assist community partners, improve our infrastructure, and enhance the level of services we provide to our residents. As part of the budget process, we look forward to finalizing the plans for these funds and sharing them with our community.”

The next budget workshop is scheduled for Tuesday, April 12, immediately following the regularly scheduled Town Council meeting.

If you have any questions about the budget or the budget process, please contact Finance Director Jim Wojtowicz at 704-821-5401 or jmw@indiantrail.org.

If you would like to learn more about the Town’s finances or view the current budget, visit the Finance section of our website at http://indiantrail.org/160/Finance-Business-Operations.

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