The Richmond County Commission unanimously approved its $74 million, 2024-2025 budget.
At least a portion of last week’s meeting seemed more of a celebration than an annual standard procedure as County Manager Bryan Land whirled through each department budget over 30 minutes.
“This budget is a result of the combined efforts of all department heads, as well as many other employees who assisted with the tracking and monitoring of the various revenues and expenditures. As always, I sincerely appreciate the efforts of our finance director – Mr. Carey Garner, and his deputy finance director Ms. Missy Kelley, and their team and our finance office,” Land said. “I feel our budget is very understandable and straightforward… Over the last seven years, the county made great strides in improving our overall financial picture.”
Hot real estate market provides optimistic forecast
In 2018, following the retirement of then County Manager Rick Sago, Land inherited a budget shortfall requiring a 4-cent tax increase, and an across-the-board 15 percent reduction in all department budgets. While other counties had an available fund balance of 34 percent, Richmond County’s was 11 percent. Seven years later, Land presented a much more positive outlook to commissioners, which also included a reduction in county debt and dependence on offsetting general fund shortfalls with solid waste fund revenue.
“Our debt burden has been slashed by over 50 percent or roughly $23 million. From over $45 million to $21 million during the same (seven-year) timeframe,” Land said.
Although benefitting from high interest rates over the past two years, Land believes that period will soon. However, with Richmond County undergoing its eight-year property revaluation period, revenue lost from falling interest rates may replenish from revenue from rising property values.
“(We) are witnessing our first major price appreciation in the county in almost two decades. This can be attributed to the smoldering real estate market that we are witnessing nationwide since COVID. While our 2024-2025 property and sales tax revenue is expected to exceed the amount budgeted for 24-25 substantially, the need for these additional funds is great,” Land said.
Large-scale projects, recreational contributions on the horizon
Before diving into department budgets, Land outlined a few capital improvements coming in the near future with the 2024-2025 budget’s passage. These projects include IT improvements, demolition of the vacant Locker Plant Country Ham building at Lawrence Street in Rockingham, jail parking lot paving, a $30,270 contribution to the town of Norman and a substantial increase to multiple recreation departments across Richmond County.
“The budget also includes a 50 percent increase to all municipalities, with the exception of Norman – because they do not have a parks and rec. department, for parks and rec. contributions,” Land said.
$64 million general fund includes increase employee pay, benefits
With 44 percent of the county budget earmarked for employee wages and benefits, in order to compete with municipalities looking lure employees away, Land proposed a 4 percent salary increase of all full-time employees and continue a previously approved two bonus days off or a $100 payment in lieu of time off and a paid day off on their birthdays.
“We must do all we can to incentivize and protect our most valuable asset – our employees,” Land said.
Booming industrial park has county officials cautiously optimistic
With the Rockingham West Industrial Park expected to be at capacity with Duke Energy looking to expand operations, and the Richmond County Industrial Park adding new manufacturers or expanding current manufacturing space for its current residents, Land feels Richmond County’s $40 million investment in economic development may have paid off. While dedicating a substantial amount of his time to an update on the progress of multiple manufacturers throughout Richmond County, he hopes the rapid expansion will continue but remains
“We saw several projects come to fruition. Many more prospective new clients visited Richmond County … Nearly all of our industries experience organic growth over the last year, which mirrors that of a strong economy,” Land said. “Most have incrementally increased their jobs and investment throughout the year. Martie Butler, our economic developer and management analyst, and I are cautiously optimistic about what we see in the future as far as economic development. We are both looking forward to a strong 2024-2025 year.”
Richmond County’s businesses and manufacturers will also carry the burden of funding improvements to county water and sewer services through a four percent increase in commercial rates while residential rates remain the same. Residents will also see no increase in sales tax rates related to fire services.
