The financial transactions of the Town are budgeted and accounted for within three types of funds. Each fund has a different source of revenue and/or certain restrictions on the use of the revenues. The fund types, major revenue sources, and primary fund uses are summarized below.
| Fund Type |
Primary
Resources |
Fund Uses |
| The
General Fund provide for basic Town services and operations
not required to be accounted for in other funds. It is the largest
of the Town's funds. |
Property Taxes
Business License Fees
Permit Fees
Local Public Safety Fee
Accommodation Taxes |
General Operations
Public Safety
Planning, Facilities, and
Community Services
Beach & Area Parks Support |
| The
Debt Service Fund accounts
for long-term debt obligations for capital assets, improvements, and
land acquisition. |
Property Taxes
Real Estate Transfer Fees
Storm Water Utility Fees |
Debt principal
& interest
|
| The
Capital Projects Fund
are used to purchase and construct capital facilities. |
Property Taxes
Fund Balance
Grants
Hospitality Tax
Impact Fees
Storm Water Utility Bond
Lease Account
Accommodations Taxes
Sunday Liquor Permit Fees |
New Construction
Purchase of Capital Assets
Street & Drainage Improvements
Pathways
Beach Maintenance
Parks & Open Space |
