Knightdale ends 2011 with $1M surplus
Posted December 30, 2011
Knightdale, N.C. — The Wake County town of Knightdale banked about $1 million extra in 2011, Mayor Russell Killen said Friday, crediting town staff for running "a very tight ship."
Killen said a lot of factors played into the surplus, including property value increases, more sales tax revenue and grant funds.
Now the town has to decide what to do with the money.
Residents have ideas about where they would like to see the money go. Cher Moore said she wants the town to attract new businesses.
"I would not be mad about a movie theater," said resident Savannah Stephens.
But Killen said he's already got plans to build a town park – an investment he hopes will bring more growth to the expanding town of about 11,400.
"It is going to have a playground, walking trails, (and) eventually, an amphitheater," he said.
The park is just one project the town will fund in 2012. Construction is set to begin this spring.
In the meantime, residents should enjoy the surplus while they've got it. Killen said he doesn't expect to have an extra $1 million lying around every year.
"Next year we will be much closer to budget," he said.