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Mayor's Budget Message
Mayor and Council Adopt FY14 Budget

In their June 13th~town meeting the Cheverly Town Council adopted the Budget for FY2014. ~The budget as unanimously passed retained the property tax rate at 58 cents for virtually all property owners except multi-family units whose tax rate rose from 58 cents to 68 cents.   Since there have been no increases in home assessments, virtually every resident’s Town Tax Bill will remain the same year over year.   

In FY14 the Council will continue on its three year plan to minimize expenses, property tax increases, and draw from the fund balance until homes in town are re-assessed in FY2016.  This plan was put in place last year in response to plummeting real estate assessments which resulted in a projected drop in property tax revenue of over $670,000.    

The Council is pleased to report that after the first year of the plan, the FY13 year end Fund Balance increased to approximately 1.7M.  While the FY13 Budget Plan called for a deficit, the town actually had a real surplus due unplanned revenue surpluses and keen management of expenses by our department heads.

In FY14 the Town Council for has planned for a deficit of $317,000 which should result in a year ending fund balance of approximately 1.4M.  Once again, the town has budgeted conservatively so there are opportunities to improve that number.  

In FY14 there are two main priorities being addressed that require significant funding, the purchase of a new trash truck and repairing roads that have been disrupted by recent WSSC construction. The Council agreed to purchase a Trash Truck on a three year lease that will cost $85,000 / year.   The Council also agreed to allocate $250,000 to road repair which will be combined with funds from WSSC to repair the roads next spring.

The Council also agreed to funds for: Raises and COLAs for Town Staff, Community Grant Program ($8,000), Technology and Communications Upgrades of ($5,000) and Park Improvements ($8,000)

For more information regarding the budget please refer to the Town Newsletter distributed to resident’s homes or visit the Town Website.  

Cheverly Executive Offices:   6401 Forest Road, Cheverly, MD 20785  (301) 773-8360
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