GOLDSBORO, N.C. — The Goldsboro City Council has officially adopted its Fiscal Year 2025-2026 budget, approving a comprehensive $93.68 million financial plan that prioritizes economic revitalization, the elimination of slum and blight, and the reduction of crime — all while bolstering the city’s infrastructure, workforce, and community services.
Passed during the council meeting on Monday, June 16, the adopted budget reflects a strategic effort to address current challenges while investing in Goldsboro’s long-term growth and livability.
Major Budget Reductions, Same Bold Vision
Despite an initial draft that surpassed $124 million, city staff — with the guidance of the City Council’s Finance Committee — trimmed over $31 million from the proposed budget to align with current revenue projections. City Manager Tim Livingston emphasized that the resulting plan still adheres to council priorities and includes key investments for the city’s future.
“The adopted budget reflects the priorities of the Mayor and City Council by increasing funding for slum and blight removal, creating a new street improvement fund and adding $1.2 million to that fund for street resurfacing,” said Livingston. “It also sets aside funding for a new Parks and Recreation complex that will allow us to expand programming and recreational access citywide.”
Key Highlights from the FY 2025-26 Budget
Property Tax Rate Decrease
- New Rate: 69 cents per $100 of assessed value
- Reduction: 13.5-cent decrease from last year’s 82.5 cents
- While reduced, the rate remains 12.68 cents above the revenue-neutral rate of 56.32 cents to fund critical services and personnel costs.
The additional revenue generated will fund:
- A 3% cost-of-living adjustment (COLA) for city employees
- Market-based salary increases per a citywide pay study
- A 1% increase in 401(k) contributions for regular employees
- New staff positions and equipment purchases
- Capital projects and street improvements
Water & Sewer Rate Increase
- Rate Hike: 7.5% across the board
- Purpose: To fund capital improvements such as:
- Upgrades to the city’s water reclamation facility
- Water loop system improvements
- Salary and 401(k) increases for utility employees
Additional Revenue Streams
- Sales Tax Growth: Estimated 6% increase
- Vehicle Fee Increase: From $10 to $30, specifically earmarked for street resurfacing
Key Investments in Infrastructure, Public Safety, and Staff
- $1.2 million dedicated to street repaving
- $3.45 million allocated for vehicles and equipment
- $3.26 million reserved for utility fund capital expenses
- Funding for three new full-time positions:
- Second Assistant City Manager
- Deputy Police Chief
- Stormwater Administrator
The budget also supports an economic development plan and a community-wide survey aimed at shaping future city planning and increasing resident engagement.
To recognize city employees and improve morale, the budget includes:
- $400 bonuses for full-time staff
- $200 bonuses for permanent part-time employees
Recreation and Community Development
In a major step toward improving recreational services, the city will begin plans for a new Parks and Recreation main complex, which will replace the Herman Park Center slated for demolition later this year. A new facility at the Edgewood School site will serve as the primary location for expanded recreational programming and community events.
Fiscal Responsibility and Forward Momentum
One of the most significant aspects of the newly approved budget is that none of the city’s operating funds rely on fund balance reserves, enabling Goldsboro to continue building financial reserves for future infrastructure and capital needs.
This fiscal prudence, combined with strategic investment and community-driven planning, positions Goldsboro for continued growth while directly addressing longstanding challenges such as housing deterioration, crime, and aging infrastructure.
