Minding dollars and cents

Posted by mcovington at 8:02 pm, Tuesday, March 31st, 2009
Posted in 

Fiscal year 2010 doesn’t start until July 1, but Port Royal council members already have begun thinking about what to add to — and remove from — the town’s budget, which now stands at $4 million.

At a Saturday retreat, council members heard funding requests from 14th Circuit Solicitor Duffie Stone and Chief Public Defender Gene Hood, as reported in Tuesday’s Beaufort Gazette, and from each department manager: fire, police, building and codes, public works, administrative and legislative.

The retreat was an opportunity for the council to get an idea of how much money town employees believe they will need to operate their departments and agencies successfully.

Council members said they will carefully consider how the recession might affect expected revenues before setting anything in stone.

“It’s always good to hear from the different departments, and they’ve been very conservative in their requests,” said councilman Joe Lee.

In addition to reviewing budget requests, council members discussed issues that might arise later — from the potential creation of a Port Royal visitors center, to the completion of a traffic study and the incorporation of green building principles at Town Hall.

The council also told Town Manager Van Willis to develop proposals for how to spend the additional $120,000 it expects to receive each year in tax increment financing dollars.

A TIF district is an area that has been designated for redevelopment because it is, or could become, blighted. The government pays upfront for improvements in the area, counting on getting its money back from increased property tax revenues.

In Beaufort County, TIF revenues are collected by county government then returned to the town.

Willis said Tuesday the town likely will need a capital improvement plan that will indicate how and where its extra TIF funds should be spent.

“It’s a substantial amount of money,” he said.

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