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| Radford City Unveils Proposed $50 Million Budget For 2008-09 |
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| David Grimes | |
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An increase in the real estate tax rate and a four percent salary increase for city employees were just a few of the items revealed, as Radford City Manager Tony Cox presented to council a nearly $50 million city budget for 2008-09.
In addition to the $50 million budget, the city will also have a general fund of $20.9 million.
There will be a four-cent increase in the real estate tax rate. However, the actual rate will decrease from its current rate. Cox explained that Due to the property value reassessment process, the city is required to roll back its tax rate to a rate that would bring in flat revenue to the city despite increased property values. In this case, the city will roll back the tax rate to 60-cents per $100 in value to offset revenue gains the city would see from increased values from the reassessment based on the current rate of 73-cents per $100 in value. The new budget was based on a real estate tax rate of 64 cents per $100 in value.
The tax rate in the City of Radford will remain lower than the current rates in the cities of Salem and Roanoke, as well as the County of Roanoke and the Towns of Blacksburg, Christiansburg, Pearisburg and Pulaski. Radford’s rate is higher than those of Montgomery County and Pulaski County.
The new proposed budget does not include debt service for the new elementary school, which will start construction soon. The debt service for the 2008-09 fiscal year includes only one interest payment to be made and that payment will be made by the Radford School Board.
The 3.9 percent increase in general fund expenses are due expenses not controlled by the city, such as social services, jail costs and the Community Services Act.
The proposed budget includes a four percent salary increase for city employees.
There are no proposed increases in the rates for water, sewer, electric or solid waste.
Click here to read the entire Radford City 2008 -2009 Budget.
Click here to read the entire Radford City Annual Financial Report.
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| Pulaski Fest |
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Pulaski County held its' annual Pulaski Fest on Saturday in Jackson Park. Once the fog lifted and the sun began to shine, people from all over the community came into the free event that offered crafts, food, music, rides, activities for kids, and other vendors. Just across the railroad tracks, a sidewalk sale took place and across the street the Pulaski Farmer’s Market was happening. The convergence of all of these events allowed festival attendees to peruse assorted items for sale. Photos by Tim W. Jackson |
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