Obstacles for Kernersville

My biggest concern this year is the Town’s Sales and Use Tax and Property Taxes. These are the two main sources of revenue for the Town and both have fallen over the past couple of years. I would love to see private sector growth that would increase our revenues, but it appears that it may take a little longer for the economy to recover. Another concern is the possibility of the state withholding funding. Did you know that 30 % of the Town’s revenue comes from other government resources? If these funds were to be held at the state level, or a portion of them held at the state level, this could cause enormous issues for the Town. As with your budget, normal expenses are increasing and some are hard to avoid. Items, such as, health care cost and contribution increases to the State Retirement System. Though we certainly do have budget concerns, Kernersville remains fiscally strong.