
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, February 27, 1991                   TAG: 9102270146
SECTION: CURRENT                    PAGE: NRV-5   EDITION: NEW RIVER VALLEY 
SOURCE: M.J. DOUGHERTY CORRESPONDENT
DATELINE: FLOYD                                LENGTH: Medium

NO INCREASED TAXES SEEN IN TOWN BUDGET

The proposed 1991-92 budget for the Town of Floyd includes more spending but no tax increase.

Mayor Gino Williams presented a proposed budget of $129,953 at a special meeting Monday night. That's about 10 percent higher than this year's $118,000 budget.

Public works is up about $4,500 to $71.396. Administrative costs are up about $4,500 to $34,496. And expenses of the mayor and council are expected to increase almost $2,000 to $24,060, including a new $3,300 expenditure for economic development.

The proposed budget includes no tax increases. The town's current tax rates are 13 cents per $100 assessed value for real estate and 25 cents per $100 for personal property.

Town residents also pay Floyd County taxes, which are 67 cents per $100 for real estate and $1.82 per $100 for personal property.

Williams told council there would almost certainly be changes in some specifics, but the total town budget would remain $130,000.

The budget includes no new programs. Last year, a supplemental budget of $5,000 helped establish the Floyd Economic Development Corp.

"The biggest reason the budget didn't include any new initiative is we want to hold off and make sure the money can go as far as it can during the six- to eight-month recession," Williams said after the meeting. "Hopefully, we'll get additional money after the recession. And we can put into doing some other things."

Those other things include hiring an economic development coordinator and finishing projects, such as the park being developed by the Floyd Recreation Authority and the town's beautification project.

Council will discuss the budget and the audit report on the 1989-90 budget at its March 7 meeting.

In another matter, council heard a request from a Willis businessman for financial assistance. A decision was postponed until the March 7 meeting.

Charlie West, the owner of ABC Manufacturing, sought town help in obtaining $30,000 to $50,000 in operating capital. His business uses fabric scraps from the textile plants in Floyd to produce packaging materials and other products, ranging from doors to chair backs.

by CNB