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Wake Co. manager presents $982.8 million budget for FY 2014

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RALEIGH, N.C. -

Wake County's manager presented the Board of Commissioners with a $982.8 million budget for the fiscal year 2014 during the board's regularly scheduled meeting Monday.

The proposed budget represents an increase by $44.3 million, or about 4.7 percent, in FY 2014 compared to the previous fiscal year.

"As the economic recovery occurs, we find ourselves also in the position of identifying priority service areas that need attention," Wake County Manager David Cooke said. "We've identified areas where we recommend adding resources to respond to service demands, while not expanding the role of county government."

$9.2 million of the $982.8 million budget would be allocated to education, $9.1 million to public safety, $4.8 million to human services and public health, $18.4 million to debt and capital, and $8.1 million to other county activities.

The budget also holds the property tax rate at 53.4 cents for the fifth year in a row, and funds development-related services.

"Real estate development is showing signs of recovery in new residential building permits with an increase of 60 percent over the same time period from a year ago," Cooke said. "The tax base is also projected to grow at a steady and modest rate of 2.67 percent, more than twice last year's growth rate."

The Board of Commissioners took no formal action on the budget Monday other than to accept it for review. The board is expected to take formal action on the budget June 17.

Public hearings will be held June 3 at 2 p.m. at the Wake County Courthouse and at 7 p.m. at the Wake County Commons Building.

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