RADFORD – Radford City Council unanimously passed a budget for F.Y. 2021 on Monday with no tax increases and no use of reserve funds, but leaders warned there is still much unknownin today;s fiscal climate.
“We think this budget is reflective of at least what we know at this point,” said Radford City Manager David Ridpath during Monday’s city council meeting, which was held in an on-line Zoom format. “This may be phase one budget, I’m sure you are going to see a number of amendments throughout the year, for bettertor worse. This is the best guess of where we think were going to be. Fingers crossed.”
“That is a pretty good budget,” said Mayor David Horton. “David you have done a masterful job.”
The following is a synopsis of the 2020-2021 City of Radford $59,514,312 total budget.
General Fund $ 26,802,275
Streets Maintenance Fund $ 2,505,953
Transit $ 3,002,981
Water/Wastewater Fund $ 4,639,264
Electric Fund $ 20,293,253
Solid Waste Fund $ 1,524,677
Internal Services $ 745,909
The tax rates are:
Real Property tax levy decreases to $0.78 per $100.00 of assessed value to maintain approximate level funding with the 2019 real estate tax levy.
Machinery and tools tax levy remains at $1.76 per $100.00 of assessed value.
Tangible personal property (vehicles) remains at $2.44 per $100.00 of assessed value.
Other tangible personal property remains at $1.76 per $100.00 of assessed value.
City Council held public hearings on the proposed F.Y. 2020-2021 budget, tax rates for calendar year 2020, and the school budget on Monday, April 20 at 5 p.m. in an on-line format. Declarations of emergency and restrictions on public gatherings have been made at all levels of government. Due to the threats posed by the COVID-19 virus, a disaster exists which requires the City to assure continuity of government for a period not to exceed six months. During a declared disaster, the Code of Virginia authorizes governing bodies to conduct their meetings on matters and with procedures which are consistent with providing continuity of government and promote the health, safety, and welfare of the public.
The COVID-19 virus makes it impractical and unsafe for City Council to physically assemble in one location. The virus also makes it impractical and unsafe, as well as potentially life threatening, for the public and city staff to gather in the same location to participate in the public hearings. As a result, public hearings and meetings are being conducted virtually.
The budget in its entirety can be found at https://www.radfordva.gov/DocumentCenter/View/3783/FY-2021-Budget-Document.