Interim Cary town manager Russ Overton proposed a new budget for the Town of Cary for the 2027 fiscal year. 

This proposal introduces a three-year plan to address staffing, rising operational costs, and capital investments. With a total budget of $573 million, Overton plans to use $445.9 to fund operations and $127.6 million for capital projects such as park and street maintenance and other community amenities.

Other WRAL Top Stories

The budget is also set to strengthen the financial management of public resources.

“We must ensure that our financial practices, internal controls, and Council decision-making processes meet the highest standards of transparency and responsibility," Overton said.

It comes as the Wake County District Attorney's Office, the State Bureau of Investigation, and NC State Auditor Dave Boleik investigated the town's financial mismanagement by former town manager Sean Stegall.  

Overton said the new proposed budget includes the addition of two positions within the Finance department to "enhance internal capacity, improve oversight, and support stronger financial controls."

"In the coming year, we will also continue refining policies and procedures to help ensure more consistency, transparency, and accountability in how public funds are managed," Overton continued.  

The Town of Cary would see a tax hike to support this budget. Cary residents could see property taxes increased by 3.75 cents. The new rate would become 37.75 cents per $100 of assessed home value. Which means for every $100 your home is valued, you'd pay $0.3775 in property tax to the Town of Cary

Solid waste fees and utility fees will also increase. Trash and recycling go from $26 to $28 per month. Water and sewer utility base rates would rise by 4%, which is about $3.08 more per month.

Residents have been invited to share their thoughts on the proposed budget at the regular Town Council meeting on May 28th and June 11th at 6:30 p.m. at the Town Council Chambers, 16 N. Academy Street. 

A budget must be adopted by June 30 since the new fiscal year begins July 1.