Local News

Knightdale ends 2011 with $1M surplus

Posted December 30, 2011

Map Marker  Find News Near Me

— 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.

Mayor Russell Killen Knightdale mayor: $1M surplus will fund town park

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.

2 Comments

This story is closed for comments.

Oldest First
View all
  • DontLikeTheSocialistObama Jan 2, 2012

    Translation, taxes were too high.

    Instead of spending this surplus, they should be refunding it to the taxpayers along with lowering the tax rates.

  • carydaddy Jan 2, 2012

    It would probably cost the town a mint to return this money to taxpayers, but instead of burning through the money by looking at it as an "investment" I would hope that town officials would simply roll the money forward. All you need is one surprise snow storm or other out of the ordinary event to bleed through the town's coffers. Anyway, Kudos to Knightdale for being of the few governments that spends less than it receives. Here that, Washington?!