Budget Work Session for New Hanover County details new focus of 2022-2023 fiscal year
The focus of the coming fiscal year is set to be workforce housing, including funding $3 million in new housing programs each year for the next five years.
WILMINGTON, NC (WWAY) — The Budget Work Session between New Hanover County staff and the Board of Commissioners yesterday provided a way for the two parties to meet and discuss development for the Fiscal Year 2022-23 budget.
County staff provided Commissioners with a review of sales tax collections and current county revenues, noting that the tax base is expected to increase in the coming year.
Staff also shared continuation budget figures and current known priorities for the coming year, as well as projections related to the 2022-2023 budget. The entire meeting is available to watch here.
The focus of the coming fiscal year is set to be workforce housing, including funding $3 million in new housing programs each year for the next five years.
The county is currently recruiting for key staff to help lead this project, with a goal to have some programs launched close to the start of the fiscal year.
Commissioners are planning to focus on community building initiatives in the budget, including the design and construction of a grocery store in the Northside of downtown, which is currently a food desert.
With these and other priorities, the Commissioners are also reviewing the possibilities of reducing the tax rate.
“In our budget conversations, we are evaluating all opportunities to be able to cut the tax rate and put money back in the pockets of our citizens,” said Board of Commissioners Chair Julia Olson-Boseman. “We also need to ensure we can continue our important services that citizens rely on and deserve, continue investing in our quality-of-life amenities, and make sure the board’s and community’s priorities like affordable housing, a grocery store on the Northside and other initiatives to strengthen New Hanover County are prioritized. It’s important that we find a balance in expenditures and revenue sources to achieve all of that and a tax rate reduction.”
Two additional budget work sessions are scheduled to take place at 2 p.m. on April 14 and 28, prior to the board’s regularly scheduled agenda reviews, followed by the recommended budget being presented to the Board of Commissioners at its May 16 meeting.
A public hearing is scheduled for the board’s June 6 meeting at 4 p.m., so Commissioners can hear feedback and thoughts from the public on the recommended budget before a final vote.
