Page 5 - PantegoFY24AdoptedBudget

- Public safety sustainability.
- Code enforcement and neighborhood integrity efforts.
- Street improvement projects.
- Promoting employee retention by implementing competitive compensation and
benefit packages.
- Maintaining and enhancing infrastructure systems including street and sidewalk repairs,
water and sewer system improvements and replacement of major equipment as needed.
- Promote, assist, and enhance economic development activities that attract and
retain businesses in Town.
- Enhance the Town’s promotional and marketing efforts through social media and
participation in the Arlington Chamber of Commerce; and
- Maintaining and enhancing activities that support a sense of community.
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The attached document is a responsible financial plan developed by utilizing advanced planning methods
and Governmental Accounting Standards Board (GASB 34) provisions and complying with the adopted
Town Financial Management Policies. Prudent financial and operational philosophies have guided the
development of this Budget. Every Budget seeks to allocate scarce resources, and there will always be
more needs than available funds.

One of my primary goals this year was to continue to initially provide a conservative Budget with
minimal decision packages. Staff was instructed on this, and all decision packages were vetted
by Sean and me and are recommended as being necessary. There are no decision packages
this year that impact the General Fund. One item impacting the General Fund is the addition of
two new Firefighters that also would be funded in the first three years by a grant. If this grant is
not awarded these firefighters will not be hired.

The narrative which follows provides a detailed overview of the proposed Budget.

Fiscal Year 2023-2024 Overall Budget Considerations – All Funds.

The Fiscal Year 2023-2024 proposed Budget includes total revenues of $9,264,521 an estimated increase
of 29.6% or $2,118,518 from the current (FY23) adopted Budget. The proposed base Budget expenditures
for all funds of $21,069,502 represents an increase of 167.5% or $13,191,603 from the current adopted
Budget. This increase is due to the 2023 Certificate of Obligation Bond Projects.

This Budget supports 53 full-time equivalent (FTE) personnel in all funds, reflecting a decrease .5 from
the current adopted Fiscal Year Budget. The difference the elimination of the part-time building inspector
position.
GENERAL FUND

REVENUES - Total operating revenues for FY 2023-2024 for the General Fund are $5,221,383 as
proposed; $267,912 or 5.4% higher than the FY 2022-2023 adopted Budget of $4,953,471. The increase
reflects increased Property Taxes and maintaining our current Sales Tax Revenues. Furthermore, with
our ability to issue citation warrants again, revenue from Fines and Forfeitures are expected to recover to
pre-pandemic levels. Aside from Water and Sewer Revenue, the proposed Budget addresses in detail the
three primary sources of revenue.

ADOPTED BUDGET FY2023-24 TOWNOFPANTEGO.COM/BUDGET PAGE 3