The Town of Holden Beach is proposing a smaller budget for the 2024-2025 fiscal year with no change to its current tax rate of 14 cents per $100 value.
The proposed FY 24-25 budget includes big-ticket projects, needed infrastructure upgrades and improvements, a coastal storm reduction study and a new detective position for the Holden Beach Police Department.
If adopted, the budget includes a 3.2% cost of living adjustment (COLA) for town staff, who will also be eligible for a 5% merit pay program.
The proposed budget is composed of seven overall funds, four main governmental funds and three capital reserve funds. Each fund contains detailed calculations in the budget message and can be viewed on the town’s website.
The town is expected to kick off the year with a general fund surplus.“The estimated fund balance available at [June 30, 2024,] is $4,917,229 which represents an estimated available fund balance ratio of 104%,” the budget message states.
The town will divide the extra $312,023 by identifying $236,812 as “available to appropriate” and transferring $75,311 to the beach and inlet capital reserve fund.
Overall general fund expenditures and expected revenues have decreased from $5,169,737 in FY 23-24 to $4,736,246 in FY 24-25.
The town’s general fund revenues for FY 2024-25 are projected to match expenditures at $4,736,246, down from $5,169,737 from the fiscal year 2023-24 budget. Money that makes up general fund revenues comes from property tax collections, state-collected revenues, town-collected revenues and interfund transfers.
The town is projected to collect $3,335,924 in property taxes next fiscal year, compared to $3,300,074 in property tax revenue projected for FY 2023-2024.
Two of the largest funds are the Water and Sewer fund with $7,665,209 and the Beach, Parks, Access and Recreational Tourism (BPART) fund with $6,239,679. The general fund is the third highest fund.
The town projects BPART fund revenues to come from the 441 Ocean Boulevard West pier properties and island-wide paid parking. The upcoming fiscal year is the first year the town will enforce paid parking all year. Staff expects the town to collect $895,000 in parking revenue this year.
Debt services are also included in the proposed budget message. It is noted that total debt services appropriations of $1.88 million are made for annual payments on the Central Reach Project, Block Q and the pier properties.
Departmental budget
Holden Beach commissioners have held multiple special meetings since February to thoroughly review budgetary funds and hear out what departments need and want.
Some departments will see an increase in expenditures from FY 23-24 while others will see a decrease.
Holden Beach’s planning and inspections department expenditures have decreased from its projected $525,968 in FY 2023-24 to $469,533 in the upcoming FY. The budget message states that the planning and inspections department paid for a vehicle replacement last year and will not need to this year.
The Streets Building and Grounds (SBG) Department and Public Works Department are seeing a huge decrease in their budget this year. Together, the departments total $532,285 in expenditures for the upcoming fiscal year; last year, their proposed expenditures were $1,010,018.
In the SBG department calculations, $200,000 is marked for street projects in anticipation of the update to the town’s street condition survey.
Some SGB expenditures cover costs for motor grader rentals, street end bulkhead replacements, sidewalk repairs, facilities and equipment maintenance.
Sewer rate change
Holden Beach residents will also see a change in their sewer rates.
“Effective 1 July 2024 Brunswick County is increasing the wholesale sewer rate by $1 per thousand gallons which is proposed to be passed on in the retail rate charged to town customers,” the message notes.
Detective
The police department has proposed an increase in their expenditures from FY 23-24 budget $1,220,546 to $1,650,671 in FY 24-25.
If the budget is adopted, the police department will be funded to add a detective position and associated vehicle. Expenses for emergency services vehicle modifications and an upgrade of radios are also included in the police department’s expenditures.
Other projects
Some of the town’s capital projects include implementing year-round paid parking, upfitting lift station 2, improving the Block Q site, conducting a coastal storm damage reduction study, resurfacing streets and appropriating money for pier professional services for site-specific evaluations.
Block Q improvements include the construction of bathrooms and associated stormwater infrastructure, as well as parking and Americans with Disabilities Act-accessible facilities. “A $45,000 appropriation is made in ‘Block Q Professional Services’ for further design and development at that location,” the budget message states.
Town staff has also appropriated $83,096 in the proposed budget to support a United States Army Corp of Engineers sidecast dredging project for the Lockwood Folly Inlet.
The town is also proposing the board include $50,000 in the budget for a new camera system for meetings at Holden Beach Town Hall.
The Holden Beach Board of Commissioners will vote on adopting the proposed budget after a public hearing at their June 18 meeting at 5 p.m. in the Holden Beach Town Hall Public Assembly, 110 Rothschild Street. The town’s budget must be adopted by July 1.
“Oral and written comments will be received at the hearing from any interested person,” the public notice notes.
To access the budget message and more, visit the Town of Holden Beach website at https://hbtownhall.com/.
Savanna Tenenoff is the staff writer at The Brunswick Beacon. Feel free to reach out with comments, questions and tips at stenenoff@brunswickbeacon.
