POA Newsletter: June 9, 2022

Board of Commissioners Special Meeting

Public Hearing on Proposed Budget

The Town of Holden Beach Board of Commissioners will meet TOMORROW, Friday, June 10th for a special meeting and public hearing on the Proposed Budget for Fiscal Year 2022 – 2023.  Click here for the meeting agenda.

Highlights of the proposed budget include:

  • No tax increase – the tax rate remains unchanged at 20 cents per $100 valuation
  • Expenses exceed revenues by more than $1 million.  This deficit is being covered by the following Fund Balance appropriations:
    • $871,892 from the Beach & Inlet Capital Reserve Fund balance
    • $151,659 from the General Fund balance
  • The deficit spending is largely due to debt service expenses of $3.7 million, not including FEMA:
    • Town Hall: $237,794 (General Fund)
    • Block Q: $365,134 (BPART)
    • Pier Property: $277,060 (BPART)
    • Central Reach: $1,317,720 (BPART)
    • EOC: $93,335 (Water/Sewer)
    • County Sewer: $1,115,364 (Water/Sewer)
    • Sewer Lift Station: $221,757 (Water/Sewer)
    • Sewer Vacuum Truck: $64,773 (Water/Sewer)

Click here for the Budget Message containing the details of the proposed budget.  The budget must be approved by the Commissioners by the end of this month.

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