CARTERET COUNTY, N.C. (May 21, 2024) –Carteret County officials unveiled the recommended budget for fiscal year (FY) 2024-2025 during the Board of Commissioners meeting held on Monday, May 20.

The recommended budget proposed maintaining the county’s current property tax rate of 34 cents per $100 valuation, the lowest in the region and the fourth-lowest in North Carolina.

The recommended general fund budget is $130.02 million, a slight increase of less than one percent over the amended FY 2024 budget. This increase is below the annual inflation rate. The total recommended budget across all funds is $167.73 million, a decrease of 5.12% ($9.05 million) from the amended budget for fiscal year 2024 ending April 30. The county's overall budget encompasses the General Fund, Special Revenue Funds, and Capital Project Funds.

The budget maintains the county’s high-quality service delivery to residents, property owners and visitors, while also addressing the Carteret County Board of Commissioners’ strategic priorities and commitment to fiscal responsibility. Key investments include maintaining current service levels, long-term financial planning for capital projects and human resources, continued focus on public safety and increased school funding. Additionally, the budget allocated funds for the public schools’ 2024 GO bonds debt service and prioritizes improvements in health and human services. The three largest service expenditures continue to be Education (26.80%), Public Safety (17.91%), and Human Services (17.72%).

Additionally, the recommended budget includes:

• Six new positions across various departments, including a county attorney, a deputy director for the Department of Social Services, a bus driver for CCATS, a groundskeeper, an administrative assistant for planning and inspections, and a parks maintenance technician.
• $30.53 million in current expenses funding for Carteret County Schools, representing an increase of $900,000.
• $4.42 million in current expenses funding for Carteret Community College, which is an increase of $254,000.
• Funding a 3% cost-of-living adjustment for County employees.
• Continuation of the Merit Pay program.
• An organization-wide classification and market study to address salary compression and ensure competitive pay within ranges.

The recommended budget is balanced and prepared in accordance with the Local Government Budget and Fiscal Control Act and Generally Accepted Accounting Principles.

The Carteret County Board of Commissioners will hold a public hearing for the recommended budget during the board’s meeting that will be held at 6 p.m. on Monday, June 3, 2024, at the Carteret County Administration Building Commissioners’ meeting room, located at the courthouse in Beaufort. The Board is expected to approve a final budget sometime during the month of June.

To view the complete proposed budget-including the manager’s letter to the Carteret County Board of Commissioners that includes highlights of the proposed budget, visit https://county-carteret-nc-budget-book.cleargov.com/14625.

###