The Four Oaks Town Council adopted the proposed $2.2 million budget for fiscal year 2015-16 during the town’s regular council meeting this week.
The budget represented an $84,906 increase from the current year’s budget, totaling $2,245,081. This incorporated a $1.4 million general fund, $841,965 water and sewer funds, and the PT George Endowment Fund of $1,970, used to support beautification projects to improve neighborhoods and other public places in the Town of Four Oaks.
Four Oaks citizens will see no tax or fee increases in the coming year. The tax rate of 38 cents on each $100 valuation of taxable property remains the same from the previous year. The budget account also specified there would be no levy for dogs. No major capital expenditures or changes in city personnel were included in budget.
In the budget summary, Town Clerk and Finance Officer Sherry Hudson stated, “In summary, I believe the (fiscal year) 2015-2016 Four Oaks budget reflects the board’s service priorities while reflecting a conservative approach to municipal revenues and expenditures.”
