Town Budget
ABOUT THE
BROADWAY TOWN BUDGET
The Town budget is prepared annually by the Broadway Town Manager, and is presented to Town Council. Town Council chooses to approve or make suggested modifications to the budget. The final budget is then submitted to the Town Council for approval at a public hearing. Below you’ll find the budget numbers for the2024 fiscal year. If you have questions regarding the budget, please contact the town office.
OVERVIEW OF
FISCAL YEAR 2024 BUDGET
| Town Revenue | Amount | |
|---|---|---|
|
General Fund |
|
$2,622,086 |
|
Water Fund |
|
$939,500 |
|
Sewer Fund |
|
$4,155,200
|
Total Revenue:
$7,716,786
| Town Expenditures | Amount | ||
|---|---|---|---|
|
General Fund: |
|||
|
|
General/Administrative |
$787,916 |
|
|
|
Public Safety |
$716,500 |
|
|
|
Highways & Streets |
$654,870 |
|
|
|
Parks & Recreation |
$232,800 |
|
|
|
Sanitation |
$230,000 |
|
|
Enterprise Funds: |
|||
|
|
Water Fund |
$939,500 |
|
|
|
Sewer Fund |
$4,155,200 |
Total Expenditures:
$7,716,786
Town Council held public hearings to review the proposed FY25 budget, rate increases, and tax increases on Tuesday, May 7, at 7:00 p.m. The proposed FY25 budget and tax increases will be on the June 4, 2024 agenda to be voted on.
Please click here for a list of expenses per fund. Please click here for a list of revenues per fund.
Please click here for the approved ordinance to increase the water, sewer and trash fees for FY25.
Proposed FY25 Budget
| Revenue | ||
|---|---|---|
|
General Fund |
$2,751,671 |
|
|
Water Fund |
$808,598 |
|
|
Sewer Fund |
$4,291,381 |
|
|
Subtotal before transfer |
$7,851,650 |
|
|
Transfer* |
$374,381 |
|
|
Total Revenues |
$8,226,031 |
| Expenditures | |||
|---|---|---|---|
|
General Fund |
|
||
|
|
General Administrative |
$956,150 |
|
|
|
Public Safety |
$859,500 |
|
|
|
Highways & Streets |
$712,000 |
|
|
|
Parks & Recreation |
$187,000 |
|
|
|
Sanitation |
$235,000 |
|
|
Enterprise Funds: |
|
||
|
|
Water Fund |
$985,000 |
|
|
|
Sewer Fund |
$3,917,000 |
|
|
|
Subtotal before transfer |
$7,851,650 |
|
|
|
Transfer* |
$374,381 |
|
|
|
Total Expenditures |
$8,226,031 |
*Note: Transfers are for budgeting purposes and are from operating surplus. The Town of Broadway operates on a balanced budget.
The town is proposing the following increases in taxes and fees to be effective July 1, 2024:
- A $0.03 increase in the Real Estate Tax rate from $0.07 to $0.10 per $100.
- A $8.20 increase in the bi-monthly trash collection fee from $27.80 to $36.00 and a $1.06 increase from $4.94 to $6.00 for each additional trash tote.
- A $0.05 increase in the Cigarette Tax from $0.20 to $0.25 on each package containing 20 cigarettes.
- A 5% increase in the water and sewer rate with an automatic increase based on CPI (Consumer Price Index) each following fiscal year. For example, the current water bi-monthly rate minimum will increase $1.12 from $22.40 to $23.52, or $0.56 per month. Additionally, for example, the current sewer bi-monthly rate minimum will increase $0.85 from $16.96 to $17.81, or $0.43 per month.
- A $2,000 increase in residential water connections from $4,500 to $6,500 (cost includes residential ¾” meter/labor at $500) and a $1,500 increase in residential 4” sewer connections from $4,600 to $6,100. Larger and commercial connection costs to be determined by Town Manager. Commercial and out-of-town limits connection costs will be reviewed on a case-by-case basis.
- A $100 increase in the renter water deposit from $100 to $200.
BROADWAY
TOWN OFFICE
Address
116 Broadway Ave
Broadway, VA 22815
Mailing Address
P.O. Box 156
Broadway, VA 22815
Phone
(540) 896-5152
Hours Of Operation
Monday-Friday 8:00 a.m. – 4:30 p.m.
Closed for lunch daily from 12:30 – 1:30 p.m.
