Fontana Dam – Graham County’s smallest municipality has now approved its 2021-22 budget.
The Town of Fontana Dam Council approved the budget in a special meeting, held on June 30. As approved, the town’s general fund budget boasts $256,201 in expected income and the same in expenses. The largest projected expense listed is $90,784 toward utility expenses.
The town has spent the last several months working on its utilities infrastructure, with a particular focus on fixing water leaks and making the system more efficient.
Also of note is $52,524.71 toward maintenance and sanitation. Administrative expenses made up $66,060.26 of expenditures, while professional services and governing body expenses were listed at $17,849.51 and $15,468.52, respectively.
The budget also included $7,642 for contract services and $5,872 for street maintenance, construction and lighting under the Powell Bill. The Powell Bill is a state-funded street aid program in North Carolina.
Expected general fund revenues for the town’s 2021-22 budget include $144,000 in user fees, $10,000 in ad valorem revenue, $5,465 in tax refunds and $80 in payments in lieu of taxes (PILT). Expected utility and Powell Bill Revenues equal their respective expenses exactly.
Tourism budget
The town’s tourism authority budget has $66,022.74 in revenues, with the $42,000 lion’s share of the money coming from occupancy tax.
The Town of Fontana Dam shares its territory with the large Fontana Village Resort.
In addition, the budget also showed $16,022.74 from its capital reserve fund and $8,000 in the town’s fund balance.
As approved, the town’s general fund expenditures match its revenues, with the largest share ($12,920) going toward digital media advertisement, followed by sponsorships, memberships and initiatives ($11,315) and print publications advertisement ($10,640).
The budget also funded $9,867.74 in capital expenditures, $7,530 in signage and billboards and $400 in governing body expenses.