City Council

The “New River” City 10 Robertson St. April 25, 2024 Radford, Virginia Special Meeting of Radford City Council, F.Y. 2023-2024 The special meeting of the Radford City Council was convened at 6:00 p.m. on April 25, 2024 in the Radford City Council Chambers, located at 10 Robertson Street Radford, VA. The Mayor of the City, Raymond David Horton, was present and presiding. Other members of City Council present were, Vice-Mayor Seth Gillespie, Ms. Jessie Foster, and Ms. Artrip. Mr. Bobby Davis participated remotely. Mr. Davis asked to participate remotely due to a meeting running late. Mr. Gillespie made a motion to allow him to participate remotely, Ms. Artrip seconded the motion. VOTE: Mr. Davis YES Ms. Foster YES Mr. Gillespie YES Ms. Artrip YES Mayor Horton YES Others present were as follows: Mr. David Ridpath, City Manager SUBJECT: Ordinance #1802: F.Y. 2025 Budget SUMMARY: The Budget for F.Y. 2025 has been delivered to City Council from the City Manager, as required by the City Charter. Revenues are balanced with expenditures in the amount of $79,043,310. The proposed budget provides sufficient revenues to pay for expenditures, maintains positive fund balances, provides resources for maintenance and improvements to infrastructure, supports core customer services and necessary equipment replacement, acknowledges the significant impact of inflation, as well as identifies funds for payments to service the City debt. The funds are summarized as follows: General Funds $35,411,361 Street Maintenance Fund 2,829,359 Water/Wastewater Fund 2,860,488 Electric Fund 28,854,443 Solid Waste Fund 1,688,841 Transit Fund 2,860,488 Internal Services Fund 1,078,320 In addition to the City Budget, the City Council is also considering the F.Y. 2025 Radford City School Board Budget. The $46,803,799 budget was approved by the School Board on March 26, 2024. The funds are summarized as follows: Operating Fund $38,098,270 School Nutrtion Fund 1,033,057 Grants Fund 2,694,745 Textbook Fund 852,102 Capital Projects Fund 220,000 Health Insurance Fund 2,858,251 Region 7 Virtual Academy Fund 862,896 Approval of the “first” reading of the F.Y. 2025 Budget Ordinance #1802, took place on April 16, 2024. ACTION: Ms. Foster made a motion to approve Ordinance # 1802 on its second and final reading, Ms. Artrip seconded that motion. VOTE: Mr. Davis YES Ms. Foster YES Mr. Gillespie YES Ms. Artrip YES Mayor Horton YES SUBJECT: Ordinance #1803: 2024 Tax Rate SUMMARY: The F.Y. 2025 Budget is supported by revenues generated from taxes, fees and utility rates. Ordinance #1803 is an Ordinance to establish the tax rates for Real Estate, Personal Property and Machinery and Tools for the 2024 calendar year. The proposed F.Y. 2025 Budget reflects a tax rate of .69 for Real Property. The rate is an effective tax rate increase of 5 cents over 2023. The tax rates are as follows:  Real Property tax would be at $0.69 per $100 of assessed value  Machinery and Tools tax remains at $1.76 per $100 of assessed value  Tangible Personal Property remains at $2.44 per $100 of assessed value as described in section 15 through 19 of 58.1-3503A of the code of Virginia (Personal Property, vehicles, etc.)  Tangible Personal Property remains at $1.76 per $100 of assessed value as described in section 15 through 19 of 58.1-3503A of the code of Virginia (Business Personal Property) Note: Due to the 31% increase in total assessed value of Real Property from 2023, a lowered tax rate is necessary to offset the increase which would be $0.64 per $100 assessed value. The difference in the lowered tax rate and the proposed rate would be $0.05 per $100 of assessed value, known as the “effective tax rate increase.” Approval of the “first” reading of the 2024 tax rates, Ordinance #1803 took place at Council’s April 16, 2024 meeting. ACTION: Ms. Foster made a motion to approve Ordinance # 1803 on its second and final reading, Ms. Artrip seconded that motion. VOTE: Mr. Davis YES Ms. Foster YES Mr. Gillespie YES Ms. Artrip YES Mayor Horton YES SUBJECT: Ordinance #1805 Electric & Waste/Water Rates SUMMARY: The F.Y. 2024 Budget is supported by revenues generated from taxes, fees and utility rates. Electric and Sanitary Sewer rate revisions are needed to support the approved Budget. Waste water rates are programmed to increase from $14.32 to $16.24 for 2,000 gallons of usage. The rate increases are to support the cost of operations, Capital Improvements, as well as increases in the treatment of sanitary sewer at the regional Peppers Ferry facility. Electric rates are programmed to increase due to base rate and wholesale power cost adjustment increases from our supplier, AEP. The electric base rates increase to $107.97/1000 kwh and the Wholesale Power Cost adjustment would increase to .056087/kwh. ACTION: Mr. Gillespie made a motion to approve Ordinance #1804 on its second and final reading, Ms. Artrip seconded that motion. VOTE: Mr. Davis YES Ms. Foster YES Mr. Gillespie YES Ms. Artrip YES Mayor Horton YES Ms. Artrip made a motion to adjourn the meeting 6:07p.m. seconded by Mr. Gillespie. VOTE: AYES: Ms. Artrip, Mr. Davis, Ms. Foster, Mr. Gillespie, Mayor Horton NAYES: NONE-0 ATTEST: _____________________________ Melissa Skelton, Deputy City Clerk