2015 2nd Quarter Report

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ADMINISTRATION Finance Budget Downtown Development Economic Development Legislative Program Aquastar Utility Billing In FY15 we billed 4.69 billion gallons which was 2.7 percent higher than FY14. The FY15 billings were only 0.3 percent higher in total than FY12, however our water meter count - excluding irrigation or reclaimed water meters - was 8.2% higher at the end of FY15 compared to FY12. FY16 rates were calculated in April at projected demand that we now know is three percent less than we billed in FY15. To ensure continued fiscally responsible financial results, utility projections were conservative given potential demand fluctuations due to weather and other changes in customer use. 20,000 Digipay Users! With multiple electronic payment options, in June 2015 fewer than 1 in 4 customers paid by check or cash through the mail or at Town Hall. The Town conducted three budget work sessions and two public hearings in May and June, prior to the adoption of the Operating and Capital Budgets on June 25. Council was presented a balanced budget that addressed critical needs, including responding to requests for service from providers installing gigabit fiber. Before adoption, the proposed tax rate increase of three cents was reduced to two cents. In addition, a new capital budgeting system was implemented that limits projects during the first five years of the Capital Improvement Plan to what could be programmed within projected funding levels. Economic Development Update A grand opening was held on June 22 celebrating the completion of two 7-story, 213,500 square foot buildings in Weston. At the event, they announced that they had achieved their hiring goals as well, six months ahead of schedule. The company announced on April 22 that it would be relocating its U.S. headquarters to Cary, bringing 67 executive-level jobs. As part of the project, the company is also locating a distribution facility in Mebane, creating 29 jobs at that location. The company announced on June 18 that it will be expanding and investing $25 million in Cary and creating 170 new jobs over five years. Proto Labs is a technology-enabled manufacturer of custom parts for prototyping and short-run production. The Cary location will house the company's expanded additive manufacturing (3D printing) operation. MetLife CBC Americas Proto Labs Public Information 53 Manager Approved Contracts FYI

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