Garner Update April/May 2017

April/May 2017 IN THIS EDITION Several free family movie options coming up. See page 3. Town wins communications awards. See page 3. TOWN HALL CALENDAR May 8: Planning Commis- sion meeting (7 p.m.) May 16: Town Council regular meeting (7 p.m.) May 24: Town Council budget work session (8 a.m.-5 p.m.) May 30: Town Council work session (6 p.m.) June 5: Town Council regular meeting (7 p.m.) Town Council meetings are held in the training room in the police station at 912 7th Ave. The Town Council’s regular meetings are record- ed and broadcast (not live) on GTV11 (Time Warner 11, AT&T U-verse 99). They can be watched on demand at Š›—Ž› ŘŖŗř /townofgarner UPDATE Vol. 97, No. 103 No Tax Hike in Proposed FY 2017-18 Town Budget Town Manager Rodney Dickerson Still, the Town faces some revenue has released the Town of Garner challenges in the short term. Recommended Annual Operating Budget for Fiscal “The evidence of more Year 2017-18. The proposed commercial and residential budget of $33,234,362 is an permits of all types can be increase of $2,525,073 over seen in the development the FY 2016-17 adopted services office,” Dickerson budget, but it does not said in his budget message. include an increase to the RECOMMENDED ANNUAL “Unfortunately, the growth OPERATING BUDGET municipal property tax rate. in revenue is lagging behind the vast number of per- The proposed balanced bud- mit approvals. As a result, get anticipates a rise in base department budgets will be revenues of $1,306,204, with substan- adequately funded and service delivery tial increases in property tax, permits levels will remain steady, but there and fees, and other taxes and licenses. is significant pent-up demand for Other financing sources are expected to increase by more than $1.2 million. Continued on page 2 ® Town of Garner, North Carolina Fiscal Year 2017-18 /townofgarner Moody’s Grants Garner Timely Bond Rating Upgrade Moody’s Investors Service has up- graded to Aa1 from Aa2 the rating on the Town of Garner’s $29.3 million in outstanding general obligation bonds, the company announced on April 17. The upgrade could help the Town ob- tain better interest rates and terms for future borrowings and bond issuances. “The upgrade to Aa1 is based on the town’s consistently strong financial position bolstered by conservative fiscal policies, a growing tax base ben- efitting from its proximity to the City of Raleigh, and manageable debt and pension burdens,” Moody’s said. The bond credit rating company also cited Garner’s maintenance of a strong liquidity and reserve position and below-average unemployment levels. Moody’s added that Garner “will likely experience continued growth driven by ongoing residential and commercial development.” “The upgraded Moody’s general Continued on page 2 You can sign up to receive Town news releases at about-us/e-noti- fications.