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Budget in Brief

Governmental Funds

The fiscal year 2018 budget represents a funding plan designed to meet the needs of the Town's citizens. The total consolidated budget amount is $81,443,036 representing the General and Debt Service Funds, as well the Capital Improvement Plan that is comprised of multiple funds.

The General Fund budget maintains the current level of high quality service. Overall, General Fund expenditures are programmed at $40.3 million for fiscal year 2018 compared to $39.6 million last fiscal year, an increase of $705,393 or 1.8%. The Town worked diligently to keep the operating expenses as low as possible, while still maintaining the high level of services its citizens and visitors require. The proposed budget is essentially the same as last year.

The budgeted expenditures for the Debt Service Fund are programmed at $24.2 million for fiscal year 2018 compared to $13.6 million last fiscal year. There are four new bond issues programmed for FY 2018: (1) $36.0 million in Beach Preservation Fee Bonds, (2) $32.0 million in TIF Bonds, (3) $28.5 million in General Obligation Bonds, and (4) $18.0 million in General Obligation Bonds to replenish reserves (Hurricane Matthew Recovery).

The budgeted expenditures in the Capital Improvement Plan are programmed at a much more sustainable rate of $16.9 million for fiscal year 2018 compared to a budget of $49.4 million for fiscal year 2017. New projects added to the Capital Improvement Plan in fiscal year 2018 are as follows:

  • Pathway accessibility & safety enhancement projects - $100,000
  • Private dirt roads and intersection improvements - $775,000
  • Park upgrades and Cordillo tennis court upgrades - $500,000
  • Recreation Center new building upfit - $309,000
  • Recreation Center dome replacement - $316,000
  • Recreation Center miscellaneous capital - $109,000
  • Sewer projects - $2,526,000
  • Fire hydrant expansion project - $100,000
  • Beach management and monitoring - $500,000
  • Dune fencing and planting - $300,000
  • Beach renourishment project - $7,750,000
  • Fire and Rescue vehicle replacement - $2,085,000
  • Other storm related projects not covered by FEMA - $150,000

Town's Governmental Funds Budget: $84,443,036

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Budgets by Fund as a Percent of the Total Budget

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Millage Rate  ~  General Fund  ~  Debt Service Fund
Capital Improvement Plan ~ Budget Summary-Proprietary Fund ~  Summary