Wake Passes $1.26 Billion Budget; Schools Get $21 Million in New Funding

Wake Passes $1.26 Billion Budget; Schools Get $21 Million in New Funding

The annual fiscal wrangle between Wake County’s governing bodies ground to a halt Monday as the Board of Commissioners approved a $1.26 billion budget on a 5–2 vote, bumping up the schools’ allocation by $5 million over the county manager’s recommendation to provide $430.9 million in local funding.

Commissioner Matt Calabria, who moved to include the extra $5 million, acknowledged that Wake County schools would still lag beyond many other counties in the state even with the increase.

Use of a recent $1.5 million rise in sales tax revenues and transfers from debt service and capital funds meant that the property tax increase needed to fund the budget could remain at 1.45 cents per $100 in assessed value.…

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