Event Recap
Meeting Overview
On March 11, 2025, the Woodfin Town Council held a budget work session to discuss preliminary matters regarding the Fiscal Year 2026 budget. The primary focus of the meeting was a long-term financial review, including a five-year financial forecast, to help the council identify potential budget priorities and assess the town’s fiscal health.
Key Decisions
The council recorded two unanimous votes during the session. First, Vice Mayor Elisabeth Ervin made a motion to approve the agenda, which was seconded by Council Member Ken Kahn; the motion passed with a 6-0 vote. Second, Vice Mayor Ervin made a motion to approve the consent agenda, which was seconded by Council Member Philip Cohen; this motion also passed unanimously with a 6-0 vote. The consent agenda included Resolution 2025-01, which approved the North Carolina Cashflow Loan Agreement and Promissory Note provided by the North Carolina Department of the State Treasurer.
Discussion Highlights
Town Finance Officer Sherry Powers presented the five-year financial forecast, noting that while North Carolina’s economy is projected for sustainable growth, the town must consider federal changes, such as tariffs and program availability, as well as potential hurricane impacts. Powers highlighted that property revaluation, originally slated for 2024, has been postponed to 2025. She explained that property taxes remain the largest revenue source, though sales tax growth has slowed due to the impact of Hurricane Helene. Despite these challenges, Powers emphasized that Woodfin appears to be in a better financial position than many neighboring municipalities, particularly regarding property tax collection.
The council discussed the importance of maintaining a healthy fund balance, with a target range of 50-70% of annual expenditures, and the possibility of achieving revenue neutrality in future budget decisions. Significant attention was given to capital projects, specifically the need for a new town hall and continued park projects, which require significant investment and will impact the town’s debt levels. Additionally, the council clarified that Buncombe County handles the collection of accommodation taxes from short-term rentals, directing that revenue to the Tourism Development Authority.
Shannon Tuch provided an update on the Community Grant Program, which was established in 2022 to support education, neighborhood development, and human services. The presentation covered current FY 2025 recipients, including ABCCM, MHO, Catholic Charities, and RiverLink, as well as in-kind contributions from local organizations. Tuch and Powers discussed potential future expansions of the program, specifically mentioning a partnership with Asheville Greenworks for post-Helene river cleanups and the potential establishment of a propagation center. The council also noted a successful volunteer river cleanup event.
Follow-ups
Sherry Powers agreed to follow up with Asheville Greenworks regarding their proposals for river cleanup and a propagation center. She also agreed to provide additional financial data to the council, including a projection of available funds if the town maintains its current revenue neutrality goals. Council Member Ken Kahn and Sherry Powers agreed to discuss options for exploring fundraising to support community programs.
Impact
This work session serves as a preliminary step in the town’s long-term financial planning. By reviewing the five-year forecast and discussing the impacts of external factors like Hurricane Helene and federal policy changes, the council is establishing a baseline for the FY2026 budget. The discussions on fund balance targets and capital projects, such as the new town hall, provide context for the financial decisions that will be made in upcoming sessions.