Town of Milton presents preliminary 2018-19 fiscal year budget

The Town of Milton provided the Caswell Messenger with financial details regarding its preliminary 2018-19 fiscal year budget. Milton is projecting a general fund budget of $67,650 for the coming fiscal year, and a water/sewer budget of $122,775. 

The Town of Milton provided the Messenger with details regarding its preliminary 2018-19 fiscal year budget. According to the 2010 U.S. Census, Milton, located in northern Caswell County along the North Carolina-Virginia border, has a population of approximately 166 residents. 

Milton projects total income of $67,650 for fiscal year 2018-19, and balances that out with $67,650 in expenditures. Milton generates approximately $7,500 in utility taxes, $24,000 in sales and use taxes, $32,300 in real and personal property taxes (94.1 percent collection rate on real and personal property taxes), $1,000 in beer and wine taxes, and $2,200 in vehicle taxes. Milton also generated approximately $650 in investment income, with approximately $50,000 in savings as of May of this year. 

Milton’s expenses, totaling $67,650, includes $11,000 in building and grounds maintenance (Gilreath - $6,000, Tree Removal - $3,000, Sink Holes - $2,000). Milton also projected approximately $950 in FICA/Medicare employer taxes, $5,000 in town liability insurance, $1,000 in professional fees, a $7,000 town audit, $4,000 in office expenses (10 months annualized), $1,500 in electric bills for Milton’s town office, $600 in bathroom expenses, $5,000 for new street lights in Milton, $500 for a new electric Milton sign, $2,500 for phone and internet expenses, $1,000 in dues and permits, $12,400 in payroll expenses, a $1,000 tax collection fee, $3,222 in contingency spending, and $10,978 in miscellaneous expenditures. 

Milton is anticipating water revenues of approximately $122,775 for the coming year. A total of $121,775 of that comes from billing all the town’s green tanks, selling pool water, and collecting delinquencies. Milton collects another $1,000 in water late charges to reach the final total. 

The town’s water expenditures balances with revenues - adding up to $122,775. This includes $775 in employer taxes, $4,600 debt service on Milton’s water tank, $16,100 debt service on a USDA loan, an estimated $44,000 in repairs and maintenance to the town’s sewer system, $10,100.00 in projected repairs and maintenance to the water tower, $24,000 in water testing, $9,000 in expenditures to the electric sewer plant, $3,000 in expenditures to the electric water pump, and $1,200 in dues and permits. There are also approximately $10,000 in payroll expenses projected for four part-time Town of Milton employees.