Town Council — 2021-03-25

This record is the Town of Centreville FY2022 budget work session held March 25, 2021. Council and staff reviewed a salary study (to be added to the April 1 agenda), steps/COLA scenarios, and the compensation payout policy (staff noted the FY2021 comp payout estimate will be the highest due to a new cap). Finance staff reported the Town participates in LGIT with an expected surplus payout and a 3.9% health insurance rate increase, proposed an "end of service" payout line or revolving fund to cover accrued vacation, and reviewed operating and capital department budgets including a request to remove a $3.89 (75%) difference related to the Public Utility Tax placed into the Permanent Fund. Other key items: administrative cost allocation to the Enterprise Fund will remain at 20%, the current property tax rate is $0.405 and the public utility tax rate is $7, a planned 25% water & sewer rate increase for FY2022 (previously approved), a proposed inflow & infiltration (I&I) study, the Town’s $4.1 million American Rescue Plan Act allocation (half arriving within 60 days, half in one year, all funds to be used by 2024) with Council President McCluskey requesting $500,000 be earmarked for broadband, and agreement to start the April 1 and April 15 budget work sessions at 5:30 p.m.