Page 6 - Town of Bedford FY 2018-2019 Budget.pdf

&z ϮϬϭϴͲϮϬϭϵ KWd h ' d dKtE K& &KZ ͕ s/Z'/E/

Budget Message

The Honorable Members of the Town Council
Town of Bedford
215 E Main Street
Bedford, Virginia 24523

Dear Mayor Wandrei and Honorable Members of the Town Council:

I am pleased to submit the adopted 2018-2019 Fiscal Year Budget for the Town of Bedford. This budget
provides the financial resources necessary to fund community services including professional law
enforcement, professional land use and economic development support, enjoyable parks, well
maintained streets, innovative and supportive use of technology, efficient trash service, adequate
physical structures and facilities, and reliable electric service.

The Town’s department heads and staff have prepared this annual financial plan to provide for the
continuation of adequate Town services for our citizens and also to provide funding for capital
improvements and equipment that promote the safe and efficient performance of those services. The
Town faces many challenges in the upcoming year, including continuing issues with our aging
infrastructure, uncertainty related to the timing of development patterns, and also the uncertain level of
state and local revenues. The level and frequency of change in the operating environment of the electric
utility poses its own unique set of challenges. Within this service area, capital outlay expense is directed to
providing more efficient core services to Town residents as well as maintaining hydro generation
operations, system extensions, and circuit reliability maintenance. Energy and energy transmission costs
continue to rapidly increase and be passed through the energy market to distributors which make it
imperative that the Town continue to evaluate all options in energy production and pursue all available
means available to stabilize costs.

The Town continues to monitor its active landfill which is nearing capacity and will carry with it significant
closure and post-closure costs. In accordance with federal and state laws the Town is required to perform
certain maintenance and monitoring functions for thirty years once capacity is reached and a final cover is
placed on the landfill. The Town is actively planning for the activity related to these costs in current budget
cycles in order to accommodate these expenses as they arise. However, immediate service demands are
present which demand attention and compete for available resources within the overall stream of
revenue. In addition, the Town continues to meet DEQ testing and monitoring requirements related to its
current closed landfill and to accrue additional expenses resulting from those standards.

Although there are many significant challenges facing the community, they are also accompanied by
opportunities. Efforts to expand the local economy, increase the efficiency and effectiveness of
services, and enhance the quality of life for all citizens of the Town are ongoing for the foreseeable
future. A number of businesses within Town have plans to expand and create additional
employment. In addition, several new units of residential housing have been approved throughout
Town and construction of many of those is currently underway. The Town also continues to benefit
from its association with (and inclusion within) Bedford County. The scheduled opening of the new

WĂŐĞ ϱ