The Wicomico County Council voted unanimously to approve the fiscal 2016 budget as proposed by County Executive Culver. The $129 million budget, which uses $6.2 million in prior year revenue, is slightly more than the current year and maintains all current tax rates.
A previous post on Conduit Street describes the items funded in the budget.
The FY16 estimated recurring revenue of $122,815,651 will cover our debt service, recurring educational, public safety, pension, health care, general government, culture and recreation, and community development ongoing expenses. In addition, I am proposing the use of $6,184,592 of General Fund prior year revenue to pay for one-time operating costs, pay-go Capital Improvement Plan funding, and minor capital/infrastructure spending bringing the total proposed General Fund Budget to $129,000,243; a change of $266,435 or 0.2% increase over last year’s budget. This increase accommodates a $910,527 recurring expenditure for the Board of Education as a result of State mandated increases in Maintenance of Effort and Teacher Pension funding. It also accommodates $222,288 to fund the County’s commitment to the Fraternal Order of Police (FOP) in accordance with the collective bargaining agreement executed February 19, 2015. In addition this budget proposes the appropriation of $2,837,923 in unassigned capital funds plus the proposed issuance of $15,760,000 of new debt to fund approved CIP projects. Of the proposed new debt amount, $10,558,228 is contemplated for Board of Education priority systemic renovations.
Information on the County Executive’s proposed budget can be found on the county’s website.