Town of Blacksburg Adopted Operating Budget FY 2027

The Recommended FY 2027 Budget provides funding to support the broad array of Town services at expected service levels under current economic conditions. The local economy has continued to grow moderately while, nationally, inflation has remained at around 3%. While this is a positive sign, the economy remains sensitive to national and global activities. Town revenues have remained stable over the past two years. Inflation continues to impact the Town’s operational expenses and the cost of capital projects. This recommended budget accounts for these inflationary increases within our projected revenues. By the end of calendar year 2026, the Town will have completed all the projects and programs funded using the $13 million received through the American Rescue Plan Act (ARPA). Funds were used for programs supporting food security, childcare, economic development, and affordable housing. Capital projects included the Meadowbrook Greenway Trail, the North Main Trail, repaving sections of the Huckleberry Trail, creating outdoor spaces, and town-wide bicycle and pedestrian improvements. The Town’s use of ARPA funding will have a lasting impact on the quality of life in Blacksburg. There are several new and continuing initiatives funded in the recommended budget. These initiatives are listed below: • The Town continues to participate in the New River Valley Housing Trust Fund and provides funding to support its work. The New River Valley Regional Commission established the Trust as a regional housing initiative to support affordable housing development in Blacksburg and throughout the New River Valley. • In FY 2027, the Town will open The Local at 414 , a downtown retail incubator offering space for start-up businesses and small downtown events and meetings. The budget includes funding to support staffing, programming, marketing, and facility activation during start-up, until tenant and event rental revenue are realized to offset operating costs. • In FY 2026, the Town launched an EMS revenue recovery program to offset rising emergency medical services costs. The FY 2027 Budget establishes a new Rescue Fund which is a dedicated special revenue fund to track all Rescue Squad revenues and expenditures. • The New River Valley Emergency Communications Regional Authority is upgrading Montgomery County’s emergency radio communications systems. The project addresses ongoing issues of capacity, coverage, clarity, and lack of security experienced with the current outdated technology. The budget funds the Town’s share of the debt to procure and construct the radio system infrastructure as well as funding to purchase radios for the Town’s three public safety departments. Fire Department radios will be funded through the State's Fire Fund, Rescue Squad radios through the newly

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