# 2024.03.05 Town Council Budget Work Session Video

**Body:** Town of Woodfin — Woodfin Town Council
**Date:** March 5, 2024 5:00 PM EST (2024-03-05T17:00:00-05:00)

**Link:** https://sunshinemeetings.org/event/1205

## Summary

The Woodfin Town Council convened for a budget work session on March 5, 2024, marking the first of three planned sessions for the Fiscal Year 2025 budget. The meeting, which ran from 3:04 pm to 5:18 pm, focused on reviewing the overall budget process, examining a five-year financial forecast, and discussing fund balance policies. The agenda was approved unanimously by a 6-0 vote. As this was an informational work session, no formal votes on budget items were taken, and the Council’s primary action was to approve the meeting agenda.

Key discussions centered on the town’s financial health and upcoming priorities. Staff presented a five-year financial forecast projecting a modest increase in revenues, potentially resulting in a surplus for the next fiscal year. The Council reviewed the current fund balance of approximately $6.7 million, noting that unrestricted funds are projected to remain well above the town’s target of 50% of annual expenditures. The Mayor emphasized the importance of transparency and accountability in the budget process, while the Town Manager highlighted the necessity of maintaining a healthy fund balance to address unexpected challenges. Council members acknowledged the favorable financial situation but cautioned against complacency, stressing the need for careful planning.

Significant attention was given to specific projects and programs. The Town Hall Project, estimated to cost $8.1 million, was discussed, with staff recommending the postponement of detailed design decisions until later in the year due to funding uncertainties, pending county reimbursements, and higher interest rates. The Council directed Town Manager Tuch and staff to move forward with planning for the Community Grant Program, which supports local organizations such as Woodfin Elementary School and Catholic Charities. Additionally, the Council considered a potential salary increase based on the Consumer Price Index (CPI), which was recorded at 3.4% from December 2022 to December 2023.

There were no public comments or testimony from residents during the session. The Council engaged in clarifying questions throughout the discussion, demonstrating a focus on understanding the financial outlook and project timelines. The meeting concluded with a commitment to a transparent and collaborative approach to ensure responsible financial management for the town.

Several follow-up actions were established for the post-meeting period. Staff will continue to monitor the financial forecast and update the Council as needed. The Town Council will continue discussions regarding the Blue Way/Green Way project, with bids expected back soon. Staff will provide additional information on the Community Grant Program, including reporting metrics from ABCCM. The Council will revisit the Town Hall project later in the year once funding and priorities are clearer. Finally, Shannon will circulate the presentation slides to council members for their review.

## Agenda

- [Consent Agenda](https://sunshinemeetings.org/event/1205/item/23099)
- [New Business](https://sunshinemeetings.org/event/1205/item/23100)
- [Presentation and discussion regarding FY2024 budget matters.](https://sunshinemeetings.org/event/1205/item/23101)
- [Budget process overview](https://sunshinemeetings.org/event/1205/item/23102)
- [Five-year financial forecast](https://sunshinemeetings.org/event/1205/item/23103)
- [Fund Balance & Debt](https://sunshinemeetings.org/event/1205/item/23104)
- [Town Hall Project Feasibility Initial Discussion](https://sunshinemeetings.org/event/1205/item/23105)
- [Community Grant Program-Shannon Tuch](https://sunshinemeetings.org/event/1205/item/23106)

## Votes

- Council Member Thornton made a motion to approve the agenda. Council Member Kahn seconded the motion which passed unanimously, 6-0. — Passed, 6-0

## Video & Transcript

- Recording: https://www.youtube.com/watch?v=wlsGQ4JoG68
- Transcript: https://sunshinemeetings.org/transcript/889/segments

## Documents

- [agenda_2024-03-05.pdf](https://sunshinemeetings.org/event/1205?document=14335)
- [minutes_2024-03-05.pdf](https://sunshinemeetings.org/event/1205?document=14336)
- [presentation_2024-03-05.pdf](https://sunshinemeetings.org/event/1205?document=14337)

## Sources

- [YouTube video](https://www.youtube.com/watch?v=wlsGQ4JoG68)