Mount Airy's surplus fund, or savings, is projected to drop for the first time in years when the present...

Mount Airy's surplus fund, or savings, is projected to drop for the first time in years when the present fiscal year comes to a close next June 30, though the city will remain many millions of dollars in the black. City Manager Darren Lewis presented the figures during a meeting last week, projecting a total fund balance of $19,456,259 at the end of the 2026-2027 fiscal year.

That figure includes restricted funds legally designated for purposes such as public safety and streets, and a projected capital investment fund of $3,152,353 set aside for building-related and other major expenditures. By comparison, the city's unrestricted available fund balance stood at $20.3 million at the end of the most recent audited fiscal year, out of a total balance of $24.5 million, which is about $5 million more than the new projection.

Big expenses have drawn down savings, including $521,905 as the city's share of construction costs for the Granstone Conference Center on Franklin Street downtown, $325,818 related to the Balladeer Hotel project on the former Spencer's textile mill property, $300,000 for granite curbing acquired from North Carolina Granite Corp. as the company closed, and $571,998 allocated toward replacing city vehicles lost in the August flood. Lewis said no property tax increase is planned next year as a result.

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Source note: Star News TV · Oct 21, 2026 11:50 PM.