By Debbie Adams
Vinton Town Manager Pete Peters presented an overview of the recommended budget for
FY2024-25 at the council meeting on May 7. He credited Deputy Town Manager Cody Sexton,
Finance Director Andrew Keen, Town Clerk Antonia Arias-Magallon, Human Resources
Director Donna Collins, and the town’s leadership team (department heads) with doing the bulk
of the work in developing the proposed budget for the upcoming year.
he FY25 proposed budget for the General Fund totals $13,610,991, an increase of 8.6% over
the previous fiscal year. The FY25 proposed budget for all funds (general, grant, stormwater, and
capital) totals $14,879,829, an increase of 4.10% over last year.
According to Peters, the budget is “more than just the legal document appropriating funds; it
establishes priorities among competing governmental services.” The development of the
proposed budget for FY25 was guided by three goals in the town’s Strategic Plan for 2020-2025:
“enhance the town’s infrastructure and livability, maintain an efficient and high-performing
government, and ensure the town’s continued financial viability by actively pursuing quality
economic development.”
Highlights of the proposed budget include:
- The budget is balanced with no tax rate increase. The real estate tax is unchanged at 7
cents per $100 of assessed value. The personal property tax rate of $1 per $100 of
assessed value also remains unchanged for FY2025. - The budget invests in personnel with a 3% cost of living adjustment for all employees
(consistent with neighboring localities), an end-of-year gratuity bonus, no change to the
employee health plan premiums, and fully funded VRS Employee Contributions. - The fund balance and other one-time money will be used for one-time and capital
expenses, such as support for economic development projects, the Comprehensive Plan,
and increased paving. - Debt service payments are present in budgeted expenditures but offset by corresponding
reimbursement revenues.
The number of town employees will remain steady with 69 full-time budgeted positions: three in
Administration, five in Finance, one in Human Resources/Risk Management, four in Planning
and Zoning, 27 in the Police Department, 22 in Public Works, two in Building and Grounds, one in Economic Development, and four in Community Programs. Personnel is the town’s largest expenditure at 44.67% of the budget, followed by 26.47% for Operating Expenses.
In describing revenues, Peters noted that the town has largely experienced “positive growth
across a primarily consumer-based revenue budget.” For a time, after the recession in 2009-10,
the revenue growth of the town was less than 1%. Since 2018, the town has seen a more
consistent growth trend and is now able to prioritize expenditures that had been put on hold for
most of a decade.
In July 2022, the town transferred its water and wastewater utility system to the Western Virginia
Water Authority (WVWA) with the town retaining the balance of the Utility Fund and the
WVWA assuming all utility-related debt, plus cash payments to the town over a three-year
period. Proceeds from the sale of the system have been allocated to reserves and will be the
town’s primary source to fund the Capital Improvement Fund over the next five years. The FY25
budget incorporates the second of the three cash payments to the town of $1,000,000. The funds
are primarily designated for one-time expenditures.
Revenue sources are highly diversified in Vinton and not primarily dependent general property
taxes as is the case in many localities. General property tax revenues (real estate, personal
property, public service corporation) account for 7.83% of the town’s revenues. Peters said that
town residents expect that services be provided with minimal reliance on real estate taxes.
Sales tax revenue makes up almost 11% of the town’s total revenue and is one of the top five
revenue sources for Vinton. Meals taxes are also in the top five, making up 13% of revenues.
Peters said that the meals tax is “performing extremely well” due to the number of new
restaurants in Vinton which “didn’t exist five to ten years ago and are attracting visitors from
outside of Vinton.”
Business license taxes make up 7% of the town’s revenues. The pari-mutuel taxes from Rosie’s
Gaming Emporium contribute 10% of the town’s total revenues; the town anticipates this income
will continue to increase.
“An overarching goal of the town is to utilize this revenue stream for capital projects as much as
possible,” Peters said.
“The town’s revenue streams combined with good fiscal management by department heads have
produced budget surpluses in recent years,” he continued. “These surpluses allow the town to
take on one-time projects and activities without majorly impacting the operating revenues of the
town.”
The FY25 budget for Capital Improvement Projects includes $660,000 for a new refuse truck,
core drill analysis of 3 rd Street, HVAC upgrades for Municipal Building and Public Works,
Public Works garage updates, Downtown Revitalization Incentives, and contributions to the
Regional Skate Park.
Citizens may review the proposed budget on the town’s website at www.vintonva.gov. A public
hearing on the proposed budget is scheduled for May 21 at the Town Council meeting. The
budget will be adopted on June 4.
During the meeting, Cody Sexton notified council that the town’s Treasurer/Finance Department
has received the prestigious Distinguished Budget Presentation Award from the Government
Finance Officers Association (GFOA) for FY23-24. This is the eighth year the town has received
the award—a significant achievement, as it is based on nationally recognized guidelines.
According to Sexton, “In order to receive the award, a budget document must satisfy criteria to
operate as a policy document, a financial plan, an operations guide, and a communications
device. Budget documents must rate ‘proficient’ in all four categories, and in the fourteen
mandatory criteria within those categories to receive the award.” This is a rigorous process.
In fact, the town received not only “proficient” ratings in all categories, but an “outstanding” for
“understandability and usability,” commended for consistent formatting throughout which makes
the document an easy budget to navigate and comprehend. “Well done overall,” the report said.
Finance Director/Treasurer Andrew Keen noted that the budget is “usable to staff and citizens;
anyone could open and look through this budget and use it.”
In other business, council declared May 12-18 as National Police Week, recognizing Vinton
Police officers for “their faithful and loyal devotion to duty and dedicated service to their
community.” Mayor Brad Grose commented that the police department is always a source of
pride in Vinton.
Council approved a resolution adopting the new Town of Vinton Employee Handbook as
presented by Human Resources Director Donna Collins. The handbook has been updated in
employee classification, payroll practices, time-keeping procedures, PTO policy, and the
definition of part-time and full-time employees, after feedback from town staff and the town
attorney, Jeremy Carroll.
