Century Set To Approve Budget With 50 Percent Increase

September 22, 2013

The Town of Century is set to hold a public hearing Monday afternoon before adopting a budget up about 50 percent over last year and setting the tax rate for the upcoming fiscal year.

The proposed 2013-2014 budget is$4,384,791, up about $1.6 million over the last fiscal year. The operating budget increase is due to grant income and associated expenditures of $1,595,000 — including a $650,000 housing grant and a $944,000 drainage project grant for North Century Boulevard.

There will be no net increase in ad valorem taxes this year to meet the budget for fiscal year 2013-2014, which begins October 1. The recomputed millage rate of .9006 is equal to and does not exceed the rolled-back rate.

The budget hearing will be held at 5:01 p.m. in the council chambers. The council will also hold a workshop beginning at 3 p.m. Monday to hear presentations from competing insurance companies for liability and worker’s compensation cover coverage.

To view a summary of the budget in pdf format, click here or the image below.

Comments

One Response to “Century Set To Approve Budget With 50 Percent Increase”

  1. SW on September 22nd, 2013 7:07 am

    Why is Century still a town? They provide no service that a privately-owned entity couldn’t or the county doesn’t already provide…and residents/businesses wouldn’t be getting double-taxed, IMHO.

Written by William Reynolds · Filed Under Archive