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The Danville Town Council is set to discuss the town’s proposed budget for the upcoming fiscal year as well as projected expenses and revenues over the next 10 years during a morning workshop this week.
The discussion is set to center on an overview of the draft budget and capital improvement program for the 2025 to 2026 fiscal year; the programs, activities and service levels being budgeted for; and plans for services and expenses along with future financial projections.
The town’s healthy financial outlook is due in part to reliable property tax revenues, according to the draft budget by Town Manager Joe Calabrigo — projected to generate $18.9 million in the next fiscal year, 5.6% more than the current year.
“Although the Town receives only 7% of total property taxes paid by Danville property owners, strong growth in property valuation continues to increase property tax revenues,” Calabrigo wrote in the draft budget.
Other General Fund revenue sources including recreation fees and franchise fees are also projected to be up in the next fiscal year, by 7.2% and 7.8% respectively. Meanwhile though, sales tax revenues are projected to be down by 2.4% for a total of $6.4 million in revenue.
While Calabrigo is forecasting stable or growing revenue for the town, expenses are also set to grow, with $42,442,316 in spending recommended for the next fiscal year’s budget amid operating expense increases projected at 3.8% overall.
Of that recommended spending for the next fiscal year, $12,031,300 is recommended for the Capital Improvement Program.
The upcoming workshop is informational only, with the council set to vote on the draft budget at a later date.
The current budgeting process is set to be the final one for Calabrigo, who announced his upcoming retirement earlier this year. In a closed session following the budget workshop, the council is set to discuss next steps for filling his position.
The Danville Town Council is set to meet at 8:30 a.m. Tuesday (May 13). The agenda is available here.
