Budget Workshop, June 5, 2012

CALL TO ORDER 

Mayor pro tem Shooter declared a quorum present and called the meeting to order at 6:37 PM.

Commissioner Boyd opened the meeting with a prayer, and the attendees stood for the Pledge of Allegiance.

NEW BUSINESS 

Finance Officer Blake Proctor began the workshop by distributing updated budget documents that incorporate changes from the previous two workshops, and reviewing the proposed budgets so far. He informed the Board that Big Daddy’s sweepstakes has closed, which will cost the Town $18,000 in gaming revenues in the upcoming year; however, this loss in revenues will be more than made up by $11,500 in final STEP reimbursements and another $11,500 in final FEMA monies, both of which are anticipated in July.

Inasmuch as we anticipate a substantial surplus this fiscal year, and recognizing that next year’s budget will be lower and tighter, Mr. Proctor also recommended that we pay two bills in June that are due in July: the $8,301 USDA debt service payment on the library and the $9,000 police car loan with BB&T; this 14-day early payment will free up $17,301 in FY 2013 expenses.

At the last workshop, the Commission asked Mr. Proctor to consider all options for revenue generation; in response to this request, he presented his Memorandum 12-3, which stated that a 1¢ increase in taxes would generate $3,550 for a 1.3% tax increase; also, the memorandum showed that each $50 increase in gaming fees would generate $2,400.

In the Utility Fund, rate increases would have to have a major time-consuming study done and would not be ready before mid-year; an increase in late fees from $8 to $10 would generate $3,600, and an increase in reconnect fees from $25 to $35 would add $1,000 in revenues.

Finally, Mr. Proctor advised the Board that the rate of inflation in the last year has been 2.7% and recommended that a Cost of Living pay adjustment of that amount would have a grand total cost of $13,650.

The next Budget Workshop will be held at on Tuesday, June 14th at 6:30PM.

ADJOURNMENT 

Motion by Commissioner Hunt, second by Commissioner Boyd, to adjourn at 7:50PM.

Comments are closed.