GUEST COMMENTARY: More Debt vs. Economic Uncertainty

Williamsburg must separate 'wants' from 'needs' as budget tightens

(Editor’s Note: This piece contains guest commentary. The opinions expressed below are the authors and not necessarily those of the Williamsburg Independent.)

At the end of Fiscal 2022, the City’s Debt stood at $18 million, or roughly $2,600 per non-student resident of the City. The City’s preliminary FY2026 Budget proposal projects that the City’s Debt will be $79 million, or over $11,000 per non-student resident, by the end of Fiscal Year 2026 (although the actual borrowing for 2026 may slip to FY2027).

The growth in debt has brought recent criticism from both a prior mayor and planning director, as reported by the Williamsburg Independent. As the the City’s prior director of planning said, it’s time for the City to do the hard work of separating wants from needs.

Making up the bulk of the $33.M in additional debt is $20 million for a new library, $6.84 million for water system upgrades, and $6.75 million for a new children’s park. However, in the City Council’s Work Session on April …