HomeMy WebLinkAbout4/1/2025 - Work Session1
MINUTES OF A TOWN COUNCIL WORK SESSION HELD AT 3:00 P.M. ON TUESDAY,
APRIL 1, 2025, IN THE COUNCIL CHAMBERS OF THE VINTON MUNICIPAL BUILDING
LOCATED AT 311 SOUTH POLLARD STREET, VINTON, VIRGINIA
MEMBERS PRESENT: Bradley E. Grose, Mayor
Laurie J. Mullins, Vice Mayor
Michael W. Stovall
Keith N. Liles
Sabrina M. McCarty
STAFF PRESENT: Richard Peters, Town Manager
Cody Sexton, Deputy Town Manager
Antonia Arias-Magallon, Town Clerk/Administrative Manager
Andrew Keen, Finance Director/Treasurer
Anita McMillan, Planning and Zoning Director
Nathan McClung, Assistant Planning and Zoning Director
Donna Collins, Human Resources/Risk Management Director
Mandy Adkins, Cultural Placemaking and Events Director
William Herndon, Public Works Director
Jill Acker, Assistant Public Works Director
Tim Lawless, Deputy Police Chief
Jamie Hurt, Capital Projects Director
Jill Loope, Special Project Assistant to the Town Manager
Mayor Grose called the work session to order at 3:08 p.m.
Town Manager Pete Peters opened the work session by discussing the collaborative process
with departments in preparing the proposed budget for adoption. He noted that the Town is
currently working on its Comprehensive Plan and will soon begin developing a five-year
Strategic Plan.
Deputy Town Manager Cody Sexton presented a PowerPoint, which is available in the Town
Clerk’s office as part of the permanent record. He began with an overview of revenues, stating
that they are stable and currently sustainable. Major revenue streams such as sales and meal
taxes have shown consistent growth in recent years, attributed to both new and established
restaurants performing well. Continued revenue growth in meals tax is anticipated. Growth in
sales tax seems to be leveling off.
Mr. Peters added that the Town will begin examining reserves with the goal of increasing
fund balances. He also noted that FY25 is the final year for the revenue payments from the
Western Virginia Water Authority (WVWA).
There was a discussion on real estate taxes, with Mr. Peters and Mr. Sexton noting that
Vinton does not rely heavily on this source. Council Member Stovall inquired about ideal
revenue targets. A graph showed that total revenues are expected to decrease gradually in
FY26 and FY27, largely due to one-time payments ending and the inability of natural revenue
growth to keep pace. The proposed revenue for FY26 is $13,435,681.
Mr. Sexton reviewed graphs detailing estimated growth in personal property taxes, business
license taxes, sales taxes, meals taxes, and pari-mutuel taxes. Council Member Stovall also
commented on revenue from pari-mutuel wagering.
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Mr. Sexton addressed both the General Fund and Capital Fund balances. He explained that
General Fund operating cash and investments support daily expenses, while the Capital
Fund is used for large, one-time projects. He noted the Town often appropriates money in
the middle of the fiscal year as a result of projected surpluses in order to limit growth of the
General Fund balances.
Mr. Sexton and Mr. Peters provided an overview of expenditures, highlighting that the overall
expenditure budget is essentially flat thanks to the prudent management of our department
heads and managers. Personnel expenses make up over half of the budget, including a 3%
COLA, targeted raises for Public Works and Police, adjustments to Town Council salaries,
and no changes to health insurance premiums. Additional expenses of note include annual
paving, which continues to increase as part of a 10-year plan to repave all roads, and funding
for economic development performance agreements.
The payroll budget analysis showed a proposed increase of $383,899 from the adopted FY25
budget. This includes the 3% COLA, a 1.5% raise and class adjustments for Public Works
and Police Department, and a Council salary adjustment.
Mr. Sexton also reviewed community organization funding requests. Council expressed its
opinion on how to distribute the funding.
Regarding the Capital Improvement Program, Mr. Peters noted that up to three quarters-of a
million dollars is potentially needed in to complete the park, with concrete bids forthcoming.
Mr. Sexton concluded with a review of the overall budget balance. Operational revenues are
projected at approximately $12 million, with an additional $500,000.00 from the final WVWA
payment. Planned use of the fund balance totals $913,350.00, which will appear on the
expenditure side as known and anticipated performance agreements. Expenditures include
$4 million for operations, $7 million for personnel, $800,000.00 for paving, $913,350.00 for
performance agreements, and $500,000.00 for capital projects. There is flexibility in
reallocating funds, particularly regarding the WVWA payment.
A final graph illustrated that expenditures are beginning to outpace revenues by 2–3%, which
may require adjustments moving forward.
Following no further discussion, the meeting adjourned at 4:42 p.m.
APPROVED:
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Bradley E. Grose, Mayor
ATTEST:
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Antonia Arias-Magallon, Town Clerk