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Budget in Brief

Budget Summary - Proprietary Fund

The Town has one proprietary fund, the Stormwater Fund, which operates as an enterprise fund. The Fund's expenses and transfers out are programmed at $4.8 million for fiscal year 2018 compared to $3.8 million for fiscal year 2017. Funds will be used to perform routine channel, ditch, and culvert maintenance; weir, lagoon and drainage pipe cleaning; and systems repairs. In addition, two new positions will be added to the program. The fiscal year 2018 budget includes a rate increase from $108.70 to $150.00 per household annually. The rate increase is anticipated to generate approximately $1.0 million in new funds to provide funding for a backlog of stormwater projects.

The Stormwater operations plans a $3.1 million bond issue during fiscal year 2018. This will be funded from future stormwater fee collections.

       
% Change
 
FY 2017
Adopted
Budget
FY 2017
Estimated
Actual
2018 Budget
FY 2017
Budget
FY 2017
Estimated
Acutual
Revenues:
Stormwater Fees
3,725,000
3,703,613
4,800,000
28.9%
29.6%
Interest
300
450
450
50.0%
0.0%
Total Revenues
3,725,300
3,704,063
4,800,450
28.9%
29.6%
 
Expenses:
Personnel
370,887
348,359
544,042
46.7%
56.2%
Operating
702,100
188,350
357,735
-49.0%
89.9%
Debt Service
1,153,000
1,152,998
1,153,673
0.1%
0.1%
PUDs
1,034,000
728,082
1,788,000
72.9%
145.6%
Non-PUDs
471,000
151,988
832,000
76.6%
447.4%
SCDOT Property
-
7,619
-
0.0%
-100.0%
Transfers
95,000
95,000
125,000
31.6%
31.6%
Total Expenses
3,825,987
2,672,396
4,800,450
25.5%
79.6%
 
Net Change in Fund Balance
(100,687)
1,031,688
-
 
Beginning Fund Balance
5,829,142
5,829,142
6,860,810
 
Ending Fund Balance 
5,728,455
6,860,810
6,860,810

Governmental Funds  ~  Millage Rate  ~  General Fund  ~  Debt Service Fund
Capital Improvement Plan ~ Summary