Budget retreat meeting is Monday, Tuesday
By Pat Dowling|
The North Myrtle Beach City Council will hold its FY 2018 budget retreat meeting Feb. 27-28 at the Wild Dunes Resort at the Isle of Palms. The meeting will convene on Feb. 27 at 8 a.m. at city hall, and City Council will then travel to the conference center at Wild Dunes Resort to continue the meeting and discuss the city’s proposed FY 2018 budget. The meeting will end after City Council has completed its budget discussions on Feb. 28. The budget retreat meeting is open to the general public.
The meeting agenda for Feb. 27 is as follows:
8 to 10:45 a.m. – Travel to Isle of Palms
10:45 to 11:45 a.m. – Budget overview and general fund
1:15 to 2:30 p.m. – Other funds
3 to 4 p.m. – Proposed public works projects
The meeting agenda for Feb. 28 is as follows:
9 to 11 a.m. – Priority setting and review
City Council has for years held its annual budget retreat meeting at the conference center at Wampee Plantation in Moncks Corner but the facility was not available to the city for its use this year.
The city’s fiscal year is July 1-June 30.
The proposed FY 2018 budget involves 16 separate funds, with significant interrelations and transfers between various funds.
The proposed budget is $105.3 million, an $11.5 million increase over the current budget. The increase is largely reflected in funding for the next beach renourishment project, continuation of the Cherry Grove dredging project and funding for the next ocean outfall project at 18th Avenue North, which will occur over two years.
The proposed budget maintains the city’s current millage rate of 41.3 mills, the lowest in Horry County and one of the lowest in the state. No other rate changes are anticipated for FY 2018.
The budget also proposes about $8.8 million in street improvement projects ranging from continuation of the major Crescent Beach, South Ocean Boulevard and North Ocean Boulevard underground utilities conversion and road widening projects, to the widening of 11th Avenue North, beach access improvements and more.
Also included in the proposed street improvement projects is the resurfacing of about 12 miles of city roads. There are about 180 miles of roads in the city limits, and the objective is to resurface about 12 miles of roads annually, so that all roads will have been resurfaced at least once in a 15-year period. It costs about $2 million annually to do that. There can be some deviation in the resurfacing formula as some roads are more highly used than others and may require more attention.
The city will continue to work on accomplishing its list of localized flooding improvements. In 2016, following a series of historic rain events, City Council prioritized localized flooding fixes into five categories and proposed to complete them over a three-year period. The estimated cost for all the improvements is around $2 million. Work on the improvements began in FY 2017.
City Council will also review proposed expenditures of FY 2018 accommodations tax revenue, which is estimated to be about $3.9 million.
An Accommodations Tax Committee, whose members are appointed by City Council, recommends expenditures of accommodations tax revenue to City Council. City Council may adhere to the committee’s recommendations or it may choose to redirect some of the recommended funding.
State law requires that the first $25,000 of accommodations tax revenue be deposited into the city’s general fund, 5 percent of the balance must then be allocated to the city’s general fund, 30 percent of the balance must then be allocated to a promotion fund for the exclusive use of tourism advertising and promotion, and the remaining balance must then be used for tourism-related expenditures.
City Council Budget Retreat Meeting presentations will be posted on www.NMB.us under “Press Releases” on the homepage following the Feb. 27-28 meeting.