Hickory's upcoming fiscal year brings a notable increase in budget as the city prepares to bolster its infrastructure, especially in the wake of severe weather challenges. In a report published by Hickory's official website, City Manager Warren Wood announced a recommended budget amounting to $159,075,833 for the Fiscal Year 2025-2026, marking a 9.9% climb from the preceding year. Most of the city’s expenses fall within three funds, namely: General, Water and Sewer, and Solid Waste, comprising roughly 80% of the overall financial activity.
The General Fund, which is the main operating fund, would see an increase to $78,877,527 according to Wood's recommendation. This signals a 6.6% rise compared to current budget allocations. Of note, the proposed property tax rate is set to increase from 45.5 to 46 cents per $100 of assessed value; this increase, despite being modest, would generate an additional $425,000 in revenue earmarked for the City's water and sewer resiliency projects.
On the front of improving Hickory's resilience to natural calamities like Hurricane Helene, adjustments in Water and Sewer Fund charges have been recommended. A statement from the city's budget announcement indicates that this includes a 1% uptick in customer and availability charges, along with a 5% surge in volume charges—translating to a reasonable $1.51 average increase per month on residential bills.
Additionally, the city's Solid Waste Fund is not exempt from the climate of increases, with a recommended bump of $1 to bring the monthly sanitation fee to $29. This adjustment is aimed to help offset rising operational costs, which continue to pressure the city’s waste management capabilities. Wood, in a statement obtained by the city's website, laid down strategic initiatives saying, "As Hickory nears the end of implementing its 2014 Bond Program, we look towards meeting our medium and long-term utility infrastructure needs by creating a more redundant and resilient system." These initiatives come as timely interventions, gearing the city towards greater sustainability and preparedness.
Hickory residents are encouraged to express their thoughts on the fiscal plan. A public hearing is slated for June 3, at the regular City Council meeting, which will take place at 6 p.m. at the Julian G. Whitener Municipal Building. Those interested in delving into the details of the FY2025-2026 Recommended Budget can access the information via the city's budget webpage.
