Middleburg Town Manager Danny Davis will present his proposed Fiscal Year 2022 budget to the Town Council on Feb. 11.
The proposed FY22 budget will include a full year of revenues and expenditures with the expectation that the economy will return to normal. But the town staff noted there will be latent effects from the COVID-19 pandemic, which is why the Town Council will have the option to freeze expenditures. The new budget will also include two revenue scenarios: the “most probable” scenario and the “worse case” scenario. The town will adjust the budget to either scenario based on economic conditions as it moves closer to adoption.
The town staff is expecting an increase in residential real estate assessments, but a 14% decrease in commercial assessments. Overall, it’s expecting a 5.5% increase in real estate revenue in FY22.
Following Davis’ budget presentation Feb. 11, the Town Council will discuss the budget Feb. 25, March 11, March 25, April 8 and April 22. It could adopt the budget May 27, June 10 or June 24 at the latest. A public hearing will be held May 13.