Proposed Budget for FY25-26
6/10/2025
TOWN OF PIKEVILLE
PROPOSED BUDGET ORDINANCE
FOR THE FISCAL YEAR ENDING JUNE 30, 2026
BE IT ORDAINED BY THE Town Board of the Town of Pikeville, North Carolina pursuant to
General Statute 159-181(c):
Section 1. The following amounts are hereby appropriated in the Town’s General Fund for the
Operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending
June 30, 2026:
Governing Board $ 13,985
Administration 106,180
Police 477,600
Fire 40,000
Streets 56,600
Sanitation 62,500
Cemetery 37,050
Library 6,135
Recreation 68,300
Museum 7,500
Total General Fund $ 875,850
Section 2. The following revenues are estimated to be available in the Town ‘s General Fund
For the operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending June 30, 2026:
Taxes:
Property Taxes – Current Year $ 339,000
Property Taxes – Prior Year 4,500
Vehicle Taxes 40,000
Penalties & Interest on Taxes 2,300
Powell Bill “Street Aid” 27,000
Beer and Wine Tax 3,000
Local Option Sales Taxes 234,000
Utility Franchise Taxes 55,000
Solid Waste Disposal Taxes 550
Gas Tax Refunds 3,500
Total Taxes $ 708,850
User Fees:
Planning and Zoning Fees 3,000
Garbage Collection Fees 75,000
Court Facility Fees 1,100
Total User Fees $79,100
Other Revenues:
Interest Earned $ 13,000
Misc. Income 4,000
Park Area Rental 1,400
Sale of Cemetery Lots 20,000
Cemetery Services 17,000
Appropriation from Fund Balance for CIP 32,500
Total Other Revenues 87,900
Total General Fund Revenues $ 875,850
Section 3. The following amounts are hereby appropriated in the Town’s Water and Sewer Utilities Fund for the operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending June 30, 2026:
Water and Sewer Administration $ 141,460
Water Operations 232,400
Sewer Operations 282,640
Total Water and Sewer Utilities Fund $ 656,500
Section 4. The following revenues are estimated to be available in the Town’s Water and Sewer Utilities Fund for the operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending June 30, 2026:
Charges for Services – Water $ 312,000
Charges for Services – Sewer 368,000
Interest Earned 12,000
Water Tank Antenna Fees 45,500
Spray Field Rental 13,000
Utility Tap and Service Fees 10,000
Total Water and Sewer Utilities Fund $ 760,500
Section 5. The following amounts are hereby appropriated in the Town’s Electric Fund for the operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending June 30,2026:
Electric Administration/Operations $1,251,800
Total Electric Fund $1,251,800
Section 6. The following revenues are estimated to be available in the Town’s Electric Fund for the operation of the Town and its activities for the fiscal year beginning July 1, 2025 and ending June 30, 2026:
Charges for Electric Service $ 1,200,500
Late Fees 8,000
Returned Check Fees 500
Reconnection Fees 5,800
Interest Earned 37,000
Total Electric Fund $1,251,800
Section 7. The Town has budgeted the following debt service payments, the amounts of which are included in the indicated fund’s operations appropriations.
Principal $ 68,000
Interest 36,000
Total Water Sewer Debt Service $ 104,000
Section 8. The Town has budgeted the following debt service payments, the amounts of which are included in the indicated fund’s operations appropriations.
Principal $ 0
Interest 0
Total Electric Debt Service $ 0
Section 9. There is hereby levied a tax at the rate of fifty-four cents ($0.54) per one hundred dollars ($100) valuation of property as listed for taxes as of January 1, 2025, for the purpose of raising the revenue listed “Current Year’s Property Taxes” in the General Fund in Section 2 of this ordinance. The property value is listed as $64,074,830. This rate is based on an estimated rate of collection of 98.00% for the 2025 fiscal year.
Section 10. Copies of this Budget Ordinance shall be furnished to the Town Clerk/Finance Officer to be kept on file by them for their direction in the disbursement of funds.
I, Wendy Holland, Town Clerk/Finance Officer, CERTIFY that the forgoing is a true and correct copy of the budget ordinance adopted at a meeting of the Town Board duly called and held June 23, 2025.
WITNESS my hand, this 23th day of June 2025.
__________________________________________________
Wendy Holland, Town Clerk/Finance Officer
Town of Pikeville