| Town of Hilton Head Island Budget |
| Dear Island Neighbors, As your Ward One representative, I voted last week with other Town Council members to approve our Town’s budget for the new fiscal year, which begins next month on July 1. In our form of government, the Town Manager proposes the budget and then implements it after Town Council approval. As Chair of the Town’s Finance and Administration Committee, I approach the budget with the following principles in mind:Fiscal responsibility, Transparency with citizens, Funding of the most critical needsConsistency with our strategic planFair burden on taxpayersIn keeping with those principles, we’ve been able to reduce property tax millage rates and adequately fund the most important priorities. I’m proud to say that my work on improving the Town’s procurement policy and process has helped accomplish that outcome. Here’s a brief overview of six major components of the approved budget: General Fund of $60.9 million includes the Town’s basic operations, public safety and affiliated agency funding. It is primarily supported with revenue from property taxes, business licenses, local accommodations tax (ATAX) and permit fees. Capital Projects Fund of $74.4 million supports work that will enhance the quality of life for the community. Priority programs include road improvements, parks master plans, and beach renourishment. Stormwater Utility Fund of $7.5 million provides resources to protect our Island from flooding, protect watersheds, and sustain our water quality. Housing Fund of $4 million provides funding to implement the Town Council adopted Workforce Housing Framework, Finding Home, including: Debt Service Fund of $16.7 million further reduces Town debt. There will be discussions this year about establishing Tax Increment Finance Districts to achieve long term goals in the Skull Creek and Mid island Districts. Gullah Geechee Historic Neighborhoods Community Development Corporation Fund of $3.4 million supports continuing community investment through the revitalization of economic opportunity and quality of life for our historic neighborhoods.If you would like to take a more detailed look at the new budget, click here:https://www.hiltonheadislandsc.gov/budget/FY2025/FY2025BudgetPresentation_6-4-2024.pdf As always, please contact me with any questions, comments, or concerns. – –Alex AlexB@hiltonheadislandsc.gov PS – I’ve included our next workshop, which will be held on Monday, June 17th, regarding the William Hilton Parkway Gateway Corridor, below. I hope you can join us. Read my email on Land Preservation here Read my email on Parks here Read my email on February 2024 Key Issues here Read my email on the Affiliated Agency Process here Read my email on the Corridor Update here |
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