FY Recommended Budget

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2 FY Recommended Budget Primary Budget and Capital Plan Goals Maintain current property tax rates Maintain high service quality Proceed with efforts to develop a meeting and events center in the Islander Drive area Pursue significant grant funding for acquisition of 29.7 acre tract

3 FY Recommended Budget Primary Budget and Capital Plan Goals (continued) Plan for transition of Emerald Isle EMS to a Town department during FY Plan for expansion / renovation of Fire Station 1 in the next two years Provide reasonable salary increase for Town employees and maintain current employee benefits package

4 FY Recommended Budget Other Important Budget and Capital Plan Goals Structurally sound budget Retire existing Fire Engine debt early to improve FY budget position Maintain strong customer focus Maintain high priority on community aesthetics Maintain responsible capital replacement strategy

5 FY Recommended Budget Total Town Budget = $9,886,167 across all funds General Fund = $9,454,176 $350,976, or 3.86% increase from FY original budget Early retirement of Fire Engine debt in FY Sales tax distribution changes Maintain and enhance service quality two key enhancements Priority capital investment Future Beach Nourishment Fund $747,991 to be reserved for future nourishment activities, consistent with established plans

6 FY Recommended Budget No change in General Fund tax rate 15.5 cents 14 cents for general services, 1.5 cent for beach nourishment Town remains 2 nd lowest of 21 NC oceanfront municipalities No increase in annual solid waste fee No change in beach nourishment special district tax rate 4 cents A few minor fee increases building permit fees, preschool / afterschool / summer camp fees

7 General Fund Revenues FY Recommended Budget

8 FY Recommended Budget Total General Fund property tax revenues ~ $4.29 million Average value ($361,149) taxpayer s annual General Fund tax bill is approximately $788 ($560 plus $228 annual solid waste fee) Increase of ~ $50k due to growth, previous conservative estimate Sales tax revenues projected at $1.85 million Increase of $101,000 from FY adopted budget Would be approximately $ $1.95 million if not for SB 126 Revised estimates for SB 126 project $1.803 million - $47k less than FY Recommended Budget Electricity sales tax is projected to decrease by $35,000 from FY original budget

9 FY Recommended Budget Solid Waste fees expected to generate nearly $1.5 million Additional $32,500 of development permit fees anticipated Proposed permit fee increase roughly half of this amount Fire grant revenues = $122,158 Golf cart permits, beach driving permits, parking fees, ABC revenues up No General Fund balance appropriated Adjusted fund balance projected at nearly $2.1 million at June 30 Approximately 22.1% of FY Recommended Budget

10 General Fund Expenditures FY Recommended Budget

11 FY Recommended Budget General Fund budget honors Board s expressed priorities #1 priority to maintain General Fund property tax rate Key FY General Fund budget amendment Early retirement of Fire Engine debt ~ $190,000 Frees up ~ $96k of budget capacity in FY and FY Islander Drive land purchase To further develop the meeting and events center concept $60,000 for first of 5 annual payments for Town share; pay-as-you-go funding to repay internal financing arrangement

12 FY Recommended Budget Three new Fire positions to expand staffing on emergency scenes; one additional per shift Approximately $163,000 Funded 75% by Federal grant Total Town contribution of $390,000 for EI EMS Additional $185,000 from service fees Planned March 1, 2018 transition date to Town department Additional Parks Maintenance position to improve NC 58 landscaping and bicycle path maintenance Approximately $39,000 total cost

13 FY Recommended Budget New sidewalk along Old Ferry Road $30,000 50% funded by fundraising proceeds New Welcome to EI sign, other landscaping improvements New sign ($15,000) will include new logo and Nice Matters Additional $10,000 for other landscaping features New Town software system Approximately $17,000 for 3 years to replace outdated applications Enable tax payment information to go online

14 FY Recommended Budget New equipment to improve asphalt repair quality $21,400 Employee compensation 2.2% cost of living adjustment for all employees, consistent with change in CPI $79,190 Maintain employee health insurance benefit Switch from BCBS to NC League of Municipalities plan to avoid 28% premium increase ($112,000) Transfer to Future Beach Nourishment Fund $400,000, equivalent of 1.5 cent of General Fund tax rate Additional $60,000 for first year of internal financing arrangement

15 FY Recommended Budget Includes $84,000 for beach access walkway replacements at Fairfax, Beachview, Whitewater Replacement of 6 vehicles = $191,000 Three Police vehicles, one Parks and Recreation truck, one Public Works truck, one Fire Dept ATV Other notable items: $13,000 for replacement school bus for rec programs $15,000 for small area storm water solutions $72,000 for County inspections contract

16 Capital Replacement / Improvement Program Five year plan for replacement of major capital equipment, plus a few new capital projects Total cost of projects = ~$37.8 million over 5 years Scheduled vehicle and other capital replacements $3.0 million for Surfside Realty Tract purchase in FY 17-18, to be funded by $2.545 million in grants and $455,000 Town debt $1.25 million for reno / expansion of Fire Station 1 in FY $900,000 for new Fire aerial truck in FY $15 million for next realignment of Bogue Inlet channel / beach nourishment in FY (State grant, room tax, Town reserves) $15 million for eastern EI beach nourishment in FY (room tax, Town reserves)

17 Capital Replacement / Improvement Program

18 Budget Perspective With recommended 15.5-cent General Fund property tax rate, the average-value property owner would pay approximately $47 of property tax per month to Town of Emerald Isle; less than: Monthly cable bill Monthly smartphone bill Daily cup of coffee at nice coffee shop Dinner for two at a moderately-priced restaurant Movie night out for family of 4 Tank of gas for many vehicles

19 Budget Perspective

20 Budget Perspective Average-value property owner in EI pays approx $506 annually for general services (14 cents of rate). The same value property in other towns pays (for general services): Oak Island $ 993 Duck $ 758 Kitty Hawk $1,083 Carolina Beach $ 776 Nags Head $ 975 Surf City $ 939 Sunset Beach $ 578 Wrightsville Beach $ 480 Bald Head Island $1,847

21 Budget Perspective FY Recommended Budget includes 61 full-time positions (4 new positions, with 3 funded by grant) FY budget included 63 full-time positions Since FY (16 years), the Town s property tax rate has: Decreased in 4 of those years Stayed the same or revenue-neutral in 8 of those years Increased in 4 of those years Since 2001, Town has secured more than $33 million in grants and outside funding sources for beneficial projects

22 Budget Perspective Only (effective) tax rate increase in past 7 years 1 cent for 2013 Community Improvements Package

23 Budget Perspective

24 Budget Calendar Budget Workshop and Public Hearing Tuesday, May 16 1:30 pm Budget Workshop Tuesday, June 6 6 pm (official public hearing) Budget Adoption Tuesday, June 13 6 pm Other meetings as necessary or desired Recommended Budget is the Town Manager s recommendation. The Board of Commissioners should adjust this recommendation in any manner that more clearly represents the Board s priorities.